The Government of Canada announced today the publication of its ‘2030 Emissions Reduction Plan,’ outlining its strategy to achieve its interim climate goals. The plan covers a broad set of initiatives, ranging from carbon pricing and clean energy expansion, to carbon capture development and zero emissions vehicle incentives, provides targets for high-emissions sectors, and introduces over $9 billion of new investments.
Today’s plan follows Canada’s commitment, introduced last year, to cut greenhouse gas (GHG) emissions by 40% – 45% by 2030, on a 2005 base. The 2030 goal forms the first main step in the country’s pledge to reach net zero emissions by 2050.
Introducing the new plan, Canada’s Minister of Environment and Climate Change, Steven Guilbeault said:
“What we do next is critical. The emissions reduction plan is Canada’s roadmap to meet its achievable greenhouse gas emission reduction targets. The government of Canada is harnessing the ingenuity and the will of Canadians all across the country, not just to fight climate change, but to create sustainable jobs, and build a strong economy for the future.”
According to the plan, Canada’s economy-wide greenhouse gas emissions in 2019 reached 730 million tonnes of carbon dioxide equivalent. The oil and gas sector accounted for over a quarter of emissions (26%), followed by transport at 25%, buildings at 12%, and heavy industry and agriculture at 11% and 10%, respectively. Oil and gas also account for the largest share of planned 2030 emissions reductions, with the strategy setting a target for the sector to lower emissions by 81 million tonnes of CO2e, representing nearly 30% of Canada’s 2030 emissions reduction plan. The plans also includes a major transformation in the electricity sector’s footprint, with a target to reduce emissions by over 75% from 2019 levels.
Easing and accelerating the transition to electric vehicles also formed a major part of the strategy, which includes plans to introduce a sales mandate ensuring that at least 20% of new light vehicle sales will be zero emissions vehicles by 2026, followed by 60% by 2030 and 100% by 2035. The plan includes additional funding of $400 million for zero-emission vehicles charging stations, $1.7 billion in incentives targeting EV affordability, and $500 million investments in charging and refueling infrastructure.
Other key areas of investment under the plan include a $2.2 billion to Canada’s Low Carbon Economy Fund supporting GHG emissions reduction projects, $600 million supporting renewable electricity and grid modernization projects, $150 million to the Canada Green Buildings Strategy, and over $450 million for green home loans.
The plan also includes a major expansion of Canada’s Nature Smart Climate Solutions Fund, with and additional commitment of $780 million. The fund focuses on nature-based solutions to address climate change, supporting projects such as those focused on restoring degraded ecosystems, conserving carbon-rich areas at high risk of conversion, and improving land management practices, especially in the agriculture, forest, and urban development sectors. Canada launched the fund last year, and initially pledged to provide up to $200 million to the fund over 5 years.
Click here for more details on Canada’s 2030 Emissions Reduction Plan.