The federal budget that was tabled on April 7 offers $2.6 billion in tax incentives over five years to companies that deploy carbon capture, utilization, and storage , enabling them to write off up to 60% of their investments in the area.
Alberta Energy Minister Sonya Savage said earlier this week that 50% would be the minimum to entice companies to build carbon-capture projects, which are seen to be key to Canada achieving net-zero emissions by 2050.
The Business Council of Alberta joined the Edmonton chamber in calling for regulatory changes to speed up the development of low-carbon infrastructure.