2030 Emissions Reduction Plan
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On March 29, 2022, the Minister of Environment and Climate Change, the Honourable Steven Guilbeault, released the government’s 2030 Emissions Reduction Plan to reduce emissions across the entire economy to reach an emissions reduction target of 40 to 45 percent below 2005 levels by 2030.
The Plan includes $9.1 billion in new investments, and reflects economy-wide measures such as carbon pricing and clean fuels, while also targeting actions sector by sector ranging from buildings to vehicles to industry and agriculture. The plan includes:
- boosting climate resiliency through the development of the $150-million Canada Green Buildings Strategy;
- expanding the Low Carbon Economy Fund through a $2.2-billion renewal including a new $180-million Indigenous Leadership Fund to support clean energy and energy efficiency projects led by First Nations, Inuit, and Métis communities;
- $1.7 billion to extend the Incentives for Zero-Emission Vehicles (iZEV) program to encourage Canadians to buy and drive new electric light-duty vehicles;
- a "projected contribution” from the oil and gas sector of emission reductions to 31 percent below 2005 levels in 2030 (or to 42 percent below 2019 levels);
- establishing a Pan-Canadian Grid Council to promote clean electricity infrastructure investments, including investing an additional $600 million in the Smart Renewables and Electrification Pathways Program;
- developing a carbon capture, utilization, and storage (CCUS) strategy; introducing an investment tax credit to incentivize the development and adoption of this important technology;
- investing $194 million to expand the Industrial Energy Management System to support ISO 50001 certification, energy managers, cohort-based training, audits, and energy efficiency–focused retrofits for key small-to-moderate projects;
- an additional $780 million for the Nature Smart Climate Solutions Fund to deliver additional emission reductions from nature-based climate solutions;
- an investment of $470 million in the Agricultural Climate Solutions: On-Farm Climate Action Fund to help farmers adopt sustainable practices such as cover crops, rotational grazing and fertilizer management; and
- exploring measures that help guarantee the price of pollution.
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