CBTU believes in energy independence for North America and supports oil sands and other hydrocarbon developments in Canada. CBTU also recognizes that as a major energy user, Canada needs to strive to reduce greenhouse emissions by relying more on sustainable energy alternatives. We also need to be mindful of the fact that this is a cold country with a small population spread over a vast area, and that we are therefore energy dependent.
With all this mind, the 2023 federal budget included strong investments that will aid in the transition to sustainable energy, and these types of investments will create good, middle-class jobs including commitment to clean energy transmission through the Atlantic Loop, and support for Carbon Capture, Utilization and Storage (CCUS).
These investments include strengthened Investment Tax Credits in Clean Technology and Hydrogen, which were first introduced the 2022 Fall Economic Statement. Newly introduced in the 2023 federal budget are Investment Tax Credits in Clean Electricity and for Clean Technology Manufacturing.
For more information, read CBTU’s Just Transition submission and our statement on the federal government’s Sustainable Jobs Plan.