Start Date: 2025-02-22
End Date: 2025-02-28

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Canada's $10 Million Carbon Removal Initiative

The Government of Canada has committed $10 million to invest in carbon removal technologies as part of its strategy to reduce its carbon footprint, announced by the Honourable Ginette Petitpas Taylor, President of the Treasury Board. This initiative includes launching a Request for Information for industry procurement options, aiming to support carbon removal at a larger scale. The government exceeded its emissions-reduction target for its facilities and fleet by reducing GHG emissions by 42% compared to 2005 levels, aiming for net-zero by 2050.

Sources: Announcements: www.canada.ca

Canada and British Columbia Methane Regulation Equivalency Agreement

The Canadian Environmental Protection Act notice announced the availability of an equivalency agreement between Canada and British Columbia concerning methane emissions from the oil and gas sector. This agreement, dated February 22, 2025, intends to align federal and provincial regulations to manage methane release more effectively.

Sources: Gazette, Part I: www.gazette.gc.ca

Alberta's Budget 2025: Economic and Energy Outlook

Alberta's Budget 2025, announced by Nate Horner, emphasizes continued investment in crude oil exports and energy projects despite potential Canada-U.S. trade conflicts. The budget anticipates moderate growth in oil production, supported by projects like the Trans Mountain Pipeline expansion. It includes a new tax bracket and investments in health, education, and infrastructure, projecting a deficit due to a decline in non-renewable resource revenue.

Sources: Provincial Announcement: www.alberta.ca

Quebec and California Carbon Markets Auction Results

The 42nd joint GHG emission units auction with California generated $296 million for Quebec to support its 2030 Plan for a Green Economy. The auction sold over 51 million current vintage emission units at $41.54 per unit, contributing to projects aimed at reducing GHG emissions.

Sources: Provincial Announcement: www.quebec.ca

Saskatchewan's Trade Mission to Washington

Premier Scott Moe led a delegation of Saskatchewan businesses to Washington, D.C., to engage with U.S. decision-makers about potential tariffs and trade relations. The mission included companies from the energy and agricultural sectors, emphasizing the integrated economy between Canada and the U.S.

Sources: Provincial Announcement: www.saskatchewan.ca