OTTAWA — The Trudeau government says it will launch a new fund to draw investments in green technology as it seeks to strike a balance between the competing visions of environmental advocates and legacy industries.
In the throne speech delivered Wednesday by Governor General Julie Payette, the governing Liberals outlined plans to spend on green retrofits, clean energy and areas such as zero-emission vehicles and batteries.
The address also highlighted investments to support the adoption of renewable energy technology in order to meet the new clean-fuel standard.
Scheduled to take effect in 2022, the fuel standard requires companies to reduce the amount of greenhouse gases produced when liquid and gaseous fuels are burned by cutting emissions throughout the supply chain, from extraction to consumption.
Other measures include plans to cut the corporate tax rate in half for clean-tech companies and unspecified support for the manufacturing, natural resource and energy sectors.
Details on the green products fund and other investments have yet to be laid out.
This report by The Canadian Press was first published Sept. 23, 2020
The Canadian Press