Decarbonizing Fuel Supply
The forthcoming Clean Fuel Standard (CFS) will be a core regulatory pillar for decarbonizing the fuel supply and enabling Canada to meet its climate commitments and achieve net-zero carbon emissions by 2050. Locking in a robust CFS in 2021, as proposed, will help attract private investment in clean fuels. The sector has the potential to create thousands of jobs during the construction phase and new full-time clean-tech jobs.
To complement the CFS, the Green Budget Coalition recommends near-term
financial support for the clean fuel sector to accelerate expansion of renewable, low-carbon fuel production capacity and distribution/use infrastructure, while supporting economic recovery. We further recommend that Finance Canada review applicable tax policy to attract investment in renewable, low-carbon fuel production, distribution and use.
• $100 million [NRCan] top-up to the Electric Vehicle and Alternative Fuel Infrastructure Deployment Program, which aims to establish a national network of clean fuel charging/refueling stations, to increase the federal government’s contribution from 50% to 80% of costs for projects initiated by August 2021, and to expand eligibility criteria to include biofuel blending infrastructure.
• $350 million over five years [NRCan] for a new low-carbon fuels innovation program, leveraging private capital, to accelerate expansion in clean fuel storage and distribution.
Lisa Gue – firstname.lastname@example.org
Isabelle Turcotte – email@example.com