Keeping up with the Bidens: Canada needs to up its climate change game
is a great win and an example of how Canada builds on its existing strengths. But real success will require more, including streamlining and speeding up regulatory approvals, agreeing to definitive contracts and finding innovate ways to coordinate federal and provincial areas of jurisdiction. Speeding up regulatory approvals must be a policy imperative.
New American credits, loans and incentives should hasten the deployment of existing climate technologies such as wind and solar and encourage more advanced technologies. For direct air capture , instead of the tax credit of $50 per ton of captured carbon, the government now offers $180 with an easier qualification threshold. It makes it very attractive to build new DAC facilities in the U.S. It is a shot in the arm for climate technology entrepreneurs and Canada cannot be left behind.
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