The Government of Canada launches first tax credits for clean economy investments
The new tax credit program will support innovation, create jobs, and accelerate the achievement of zero emissions.
The Government of Canada is taking decisive steps to support Canadian workers and industries in achieving net-zero emissions. Today, the launch of the Clean Economy Investment Tax Credit (ITC) program was announced, representing federal incentives totaling CAD $93 billion by the years 2034–35.
Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, and Minister of National Revenue, Marie-Claude Bibeau, announced the implementation of the first four credits for the clean economy: credits for clean technologies, carbon capture utilization and storage (CCUS), clean technology manufacturing, and clean hydrogen.
These measures aim to attract investments, support innovation, create jobs, and achieve net-zero emissions by 2050. Organizations can already apply for credits in the field of clean technologies, with information on applying for credits for clean technology manufacturing and clean hydrogen to be provided soon.
