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Canada’s provincial governments need comprehensive net-zero climate strategies to drive growth in the green economy, but some are sending mixed policy signals to the companies that will create tomorrow’s jobs, says a new report from the Canadian Climate Institute. . However, B.C. We see this transition as inevitable,” Arnold said.
Rising global temperatures and increasing climate-related disasters are the most widely felt outcome of climate change, stressing the critical importance of cutting greenhouse gas emissions and accelerating the shift to clean energy sources. While progress varies by region, the momentum behind clean energy policies is undeniable.
News headlines trumpeted that the federal budget was setting aside more than $80 billion for cleantechnology tax credits over the next 12 years. The scale of investments that Canada requires to reach net-zero by 2050 is significant, with estimates ranging from $60 billion to $140 billion per year on average,” it said.
For companies that fall short of those markers, the 15% cleantechnology and hydrogen tax credits will fall to 5%. In terms of impacts for emissions, impacts for clean growth, impacts for competitiveness in a net-zero world, I can’t think of anything that compares to this in a budget,” said Beugin. “It
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