CleanTechnica•about 2 months ago
Canada’s New Budget Has Billions in Fossil Subsidies Disguised As Climate Action
Key Takeaway
Canada's new federal budget signals a commitment to the clean economy through extended climate programs, but its allocation of billions to fossil fuels disguised as climate action could distort market signals for clean energy developers and large power consumers.
AI Summary
- •Canada's new federal budget, led by Mark Carney, includes billions in what are characterized as fossil fuel subsidies, despite being framed as climate action.
- •Climate provisions in the budget are primarily extensions of existing programs, indicating policy continuity rather than new initiatives.
- •This approach signals Canada's intent to remain competitive in the clean economy but introduces potential market distortions by financially supporting fossil projects under climate banners.
- •For developers and IPPs, this implies a continued, but potentially uneven, playing field where traditional energy sources may receive indirect climate-related financial support.
Topics
emissionspolicy
Article Content
Mark Carney’s first federal budget arrived with the promise of discipline and credibility, but also a signal that Canada would stay in the clean economy race. The climate provisions were not new programs so much as extensions of what already existed. They provided more time for industry to commit to ... [continued] The post Canada’s New Budget Has Billions in Fossil Subsidies Disguised As Climate Action appeared first on CleanTechnica .