Skip to main content
Start of content
Start of content

441-00446 (Environment)

Paper petition

Original language of petition: English

Petition to the House of Commons

We, the undersigned citizens of Canada, draw the attention of the House of Commons to the following:

Whereas, the reduction of global net carbon emissions is a critical endeavor in our fight against climate change;

Whereas, the Liberal Government committed to net-zero emissions by 2050;

Whereas, the Liberal Government committed to exceed Canada's 2030 goal by introducing new carbon reducing measures;

Whereas, Carbon Capture, Utilization, and Storage (CCUS) is a leading measure to reduce global carbon emissions.

Therefore we, the undersigned, Citizens and residents of Canada, call upon the Government of Canada to introduce new tax incentives to attract CCUS investment to Canada.

Response by the Deputy Prime Minister and Minister of Finance

Signed by (Minister or Parliamentary Secretary): The Honourable Chrystia Freeland

In Budget 2022, the Government of Canada proposed the final design of the investment tax credit for carbon capture, utilization and storage (CCUS) projects that was first announced in Budget 2021. The investment tax credit would be refundable, and available for business that incur eligible CCUS expenses starting in 2022. It has the goal of reducing emissions from CCUS by at least 15 megatonnes of CO2 annually.

The credit would provide support to reduce the large, upfront capital costs associated with the construction of CCUS, with a rate as high as 50 percent for equipment to capture CO2, and 60 percent for this equipment in the case of direct air capture projects. Tax support will be available for a broad range of CCUS applications across different industrial subsectors, including blue hydrogen projects, and could be used to help reduce emissions in oil and gas, chemical production, electricity generation, or other sectors. The investment tax credit would be available for CCUS projects to the extent that captured CO2 goes to an eligible use, which includes dedicated geological storage, or storage in concrete, but does not include enhanced oil recovery.

Presented to the House of Commons
Garnett Genuis (Sherwood Park—Fort Saskatchewan)
May 11, 2022 (Petition No. 441-00446)
Government response tabled
August 17, 2022
Photo - Garnett Genuis
Sherwood Park—Fort Saskatchewan
Conservative Caucus
Alberta

Only validated signatures are counted towards the total number of signatures.