Canada Looks To Compete With US Carbon Capture Incentives

Canada Looks To Compete With US Carbon Capture Incentives - Carbon Herald
Source: Marko Aliaksandr via Shutterstock

Canada is looking at ways to make carbon capture offerings more competitive in the wake of the latest US incentives facilitated by the Inflation Reduction Act (IRA).  

Through the IRA, the US will be spending $369 billion on climate change and energy security programs over the next ten years. 

And the Canadian federal government, as pointed out by Randy Boissonnault, the associate minister of finance and minister of tourism, is willing to ensure that local companies are just as attractive to international investors, who want to take advantage of tax credits for carbon capture and storage (CCS). 

Furthermore, Canada’s government is particularly focused on the IRA and avoiding a big gap between the two neighboring countries as far as incentives for emissions reduction go. 

Read more: Canada Officially Announces Up To 60% Carbon Capture Tax Credit

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