Canada’s CCS tax credit strong for job support, CCS centre says
Canada’s CCS tax credit strong for job support, CCS centre says
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Natural Gas News
Canada’s CCS tax credit strong for job support, CCS centre says
Summary
But private sector will need more than tax credits to advance CCS, International CCS Knowledge Centre says. [Image: Quest CCS] by: Dale Lunan
Canada’s proposed regulations for an investment tax credit for carbon capture, utilisation and storage (CCS/CCUS) projects include strong provisions to support jobs and promote the development of large-scale CCS infrastructure, the International CCS Knowledge Centre said August 31. With one week left in the government’s public consultation period, the Knowledge Centre has published a detailed review of the draft legislation for the CCUS ...
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”