About The Submission:
Environmental Defence is deeply concerned with the proposal to introduce a new investment tax credit for carbon capture and storage (CCS). Carbon capture is not a climate solution. CCS technologies rely on the flawed premise that we can continue burning fuels indefinitely by capturing some of the production-related carbon emissions. CCS does not halt the core drivers of the climate crisis–fossil fuel production and consumption–or meaningfully reduce greenhouse gas emissions. Investments in CCS divert resources from the proven, cost effective solutions that are needed in the near-term to achieve deep emission reductions in the next decade along a pathway to zero emissions, including renewable energy, electrification and energy efficiency.
Environmental Defence does not support the creation of a CCUS investment tax credit. However, if the Government of Canada still decides to move forwards with this proposal, we have recommended conditions to mitigate the worst effects of the tax credit.
