Easly’s CEO, Andrew Kareckas, wrote an opinion piece about the new carbon capture, utilization, and storage (CCUS) tax credit and its heavy focus on supporting carbon emitters rather than technology providers. Budget 2022 allotted more than $7B in climate tax credits over eight years to the oil and gas sector, while Canadian CCUS technology companies are set to receive only $319M over a seven-year period.
Innovative Canadian companies are being sidelined. Our oil and gas sector can be reimbursed for CCUS implementations provided by non-Canadian companies, leaving our domestic technology providers scrambling to be chosen for CCUS projects.
Andrew’s piece was picked up by the Toronto Star, which published it in their Saturday paper. Take a look at the full article here and see his thoughts on how climate tax credits can better support Canada’s innovative clean-tech sector.