Budget 2023 Recognizes the Key Role of Clean Fuels in Canada’s Climate and Economic Plans
Canada to promote biofuels and support clean technologies that produce ultra-low carbon fuels
The budget recognizes the opportunities for Canada’s energy, agriculture, forestry, and waste sectors to participate in expanding global demand for clean fuels. The government has pledged to consult with the sector to ‘explore opportunities to promote its growth in Canada’; this is a critical step to properly align market signals, mitigate risks, and address competitive pressures from policies such as the US Inflation Reduction Act (IRA).
Budget 2023 also updates previous fiscal and policy commitments directed at decarbonizing transportation in Canada, promising focused action on the use of clean fuels to decarbonize ‘non-ZEV’ transportation platforms, such as long-haul trucking, aviation, marine, and rail. For example, carbon contracts for differences, investment tax credits for clean hydrogen, carbon capture, utilization and storage, and clean technologies, and fiscal programs such as the clean manufacturing tax cut, Canada Growth Fund, Strategic Innovation Fund, and the Canada Infrastructure Bank can be optimized to enhance investments, jobs, and clean fuel growth across Canada.
“We are very pleased to see the Government of Canada’s commitment to clean fuels and the recognition of the important role that advanced biofuels will play in decarbonizing our transportation systems,” said Doug Hooper, ABFC’s Director of Policy and Regulation. "Budget 2023 takes direct aim at ensuring made-in-Canada clean fuels can be competitively produced in Canada, supporting our rural and resource-based communities. Clean fuel production in Canada helps our fuel refiners and distribution systems transition to long-term, sustainable clean energy platforms, such as renewable diesel and sustainable aviation fuel.”
“There is an urgent need to move ahead with the consultations to ensure our federal and provincial policies are effectively aligned – the US market has a significant lead and is rapidly rolling out new policies and programs under the IRA legislation. Advanced Biofuels Canada is committed to working with the Government of Canada, our clean fuel supply chain and technology partners, and climate and clean energy collaborators to ensure that we attract state-of-the-art clean fuel investments here in Canada and produce the clean fuels we will need to meet our 2030 targets and 2050 net zero commitments.”
Advanced Biofuels Canada/ Biocarburants avancés Canada is the national voice for producers, distributors, and technology developers of advanced biofuels and renewable synthetic fuels. Our members are global leaders in the commercial production of these functional, scalable fuels, with over 24 billion litres of installed annual capacity worldwide. Our members include Canada’s leading advanced biofuels producers and technology innovators, who are actively developing new clean liquid fuel production and distribution assets and operations in Canada. For information on Advanced Biofuels Canada and our members, visit www.advancedbiofuels.ca.
Ian Thomson
Advanced Biofuels Canada
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