Canada set to end domestic subsidies for unabated fossil-fuel production

Ottawa –

Next week, the Liberal government is expected to finally deliver on Canada’s 14-year-old promise to end federal subsidies that support fossil fuel production.

Environment Minister Stephen Guilbeau said the policy directive would be similar to last year’s ending most of Canada’s public financing for international fossil fuel projects.

This means that fossil fuel projects will only be able to receive federal funding in the future if the government is consistent with Canada’s commitment to climate change.

Guilbeau said he would not end subsidies for clean technologies such as carbon capture and storage systems that help reduce or eliminate emissions from fossil fuel production.

In 2009, G20 countries jointly pledged to remove government funding from underground oil, gas and coal projects.

The Liberal Party had initially promised to implement it by 2025, but has since extended the deadline to the end of this year.

This report by the Canadian Press Agency was first published on July 14, 2023.

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