OTTAWA – The Liberal government is expected next week to finally fulfil a promise Canada made 14 years ago to end federal subsidies that aid in the production of fossil fuels.
Environment Minister Steven Guilbeault says the policy directive will be similar to the one last year ending most of Canada’s public financing for international fossil-fuel projects.
That means going forward, fossil-fuel projects could only receive federal funding if the government could square them with Canada’s climate commitments.
Guilbeault says he won’t end subsidies for clean technology, such as carbon capture and storage systems, that help reduce or eliminate emissions from fossil-fuel production.
G20 nations collectively promised in 2009 to start removing government dollars from projects that pull oil, gas and coal out of the ground.
The Liberals at first promised to do it by 2025 but then moved the deadline up to the end of this year.
This report by The Canadian Press was first published July 14, 2023.