Other pillars of the party’s economic vision include its child-care program, aimed at bringing women into the work force, and increased investments in science and innovation – including a $2-billion promise to establish a Canada Advanced Research Projects Agency modelled on the United States Defense Advanced Research Projects Agency.
“The green transition is a reality in the global economy.
The Liberals say they would require 50 per cent of all new car sales to be zero-emissions by 2030, while the Conservatives would require 30 per cent by 2030.
The parties differ on some environmental questions, such as carbon taxes and subsidies for electric vehicles.
The focus on the electric vehicle industry, in particular, is aimed at ensuring Canadian automakers remain an integral part of the North American vehicle supply chain, which is undergoing momentous transition.
“What they are putting forward are what our major trading partners, like the United States and the U.K.
A major piece of the Liberal Party’s green industrial policy is the “net-zero accelerator,” an $8-billion fund announced last year and greatly expanded in the April budget.
The Liberals say they will set new five-year emissions-reduction targets for the oil and gas industry, aimed at hitting net-zero by 2050.
The Conservative Party has promised a tax credit of its own, as part of a $5-billion CCUS package.
Alongside direct spending promises, the Liberals said they would “move toward mandatory climate-related financial disclosures” for public companies.
Maintaining that advantage – which could be helpful in attracting manufacturers and other companies committed to lowering their own carbon footprints – will likely require adding considerable new clean-power generation to meet rising demand caused by the electrification of transportation, buildings and industry.
Toward that end, the Liberals are promising unspecified new investment tax credits for renewable energy and battery storage.