44th Parl. 1st Sess.
April 7, 2022 10:00AM
- Apr/7/22 2:37:48 p.m.
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Mr. Speaker, certainly, carbon capture and sequestration is one tool in a broad tool box associated with reducing emissions across the economy, starting with putting a price on pollution and working through regulatory mechanisms and investment mechanisms, as well as tax measures.
We have been clear that there will be a tax credit associated with the implementation of carbon capture and sequestration technologies. That will be something that the hon. member will hear about a little bit later from my colleague, the Minister of Finance.
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- Apr/7/22 2:38:56 p.m.
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Mr. Speaker, if I were the hon. member, I would not be so dismissive of Canadian technology. Two of the top 100 clean-tech companies in the world this year were Canadian carbon capture and sequestration technologies.
I would ask the hon. member perhaps to spend some time with clean tech in Canada. Canada is a leader in carbon capture. We are a leader in clean tech around the world.
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- Apr/7/22 2:40:06 p.m.
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Mr. Speaker, certainly, as the hon. member would expect, ministers of the Crown work with their provincial counterparts across a range of issues all the time.
I was very pleased to work with the Government of Newfoundland and Labrador to launch changes this week on the offshore energy boards to include renewable energies, offshore wind and hydrogen, and certainly to focus on the transition that will be happening with respect to energy down the road. The Government of Newfoundland and Labrador has been a great partner in that regard.
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- Apr/7/22 2:41:12 p.m.
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Mr. Speaker, certainly as everybody in the House should appreciate, we will be going through an energy transition over time. The Bay du Nord project is one of the lowest emission-intensity projects in the world. It is something that will fit within our cap. It will be net zero by 2050.
It is an important step forward, but so is actually making steps towards a transition to renewable energies and hydrogen, something I was very pleased to work on with my counterpart in Newfoundland and to announce this week.
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- Apr/7/22 2:50:03 p.m.
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Mr. Speaker, certainly Canada is moving forward with the development of a critical minerals strategy. As the hon. member knows, we released a list of critical minerals some time ago. I think we will see, as the hon. member indicated, that we intend to resource the critical minerals strategy. It is a critical element of driving the economy going forward, all the way from extraction to processing to battery production and electrical vehicle production. It is certainly part of the growth agenda for this government.
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- Apr/7/22 2:53:44 p.m.
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Mr. Speaker, certainly, economic diversification of all economies to ensure that we are on a growth trajectory as we move toward a lower-carbon future is very important. I will tell members that Canada is extremely well situated to take advantage of the opportunities that will arise. In Alberta, those opportunities certainly involve carbon capture and sequestration, hydrogen, biofuels, critical minerals and a range of other things. We are working with the Government of Alberta, and we will be launching a process over the coming months to work toward economic diversification not just in Alberta, but in every province and territory in this country.
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