We here at Globe Climate love a good budget. And there are many key details related to climate that will need to be explained.
, there are still many key details related to climate that will need to be explained in the budget itself. Here’s what to watch for:of the federal Liberal government’s investment tax credit for carbon-capture projects. For critics, it’s another subsidy for the fossil fuel industry. Let’s see if the government can get the balance right –because Canada needs to use every tool in its emissions-reduction toolbox if it’s to meet its goal of net zero by 2050.
The target will rise to 60 per cent in 2030 and 100 per cent in 2035. One issue is whether, despite the narrow time frame, the 20-per-cent target will be strictly regulated and enforced. While the government has sent clear signals about that being the case with its later sales targets, it has sent mixed signals around the nearer-term one.
With auto makers moving to build bigger, more expensive electric cars, SUVs and trucks, will the government adjust its ZEV rebate program? Currently, a suite of electric, hydrogen and longer-range plug-in vehicles are eligible for up to $5,000 in “incentives” from the federal government. Automakers say that incentive needs to rise to $15,000. Ottawa has plans to provide $1.
Finally, will the 2026 sales quotas apply to a manufacturer’s sales across the country overall, or will the target need to be met in each province and territory? That’s an important consideration because in B.C. and Quebec – which are the only two provinces that have both a sales mandate and a rebate program that tops up the federal incentive – zero-emissions vehicles made up 12 per cent and 10 per cent of registrations in the third quarter of 2021, respectively.
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