Clean Prosperity President and CEO Michael Bernstein made the following statement in response to the federal government’s announcement today of the first nation-building projects set for fast-tracking under the Building Canada Act:

“The first wave of projects announced today for fast-tracking signal that the federal government is taking positive steps towards making Canada into a diversified global energy powerhouse and growing the Canadian economy.

“Strengthening Canada’s carbon markets will make even more nation-building projects economic. That includes the Pathways Alliance carbon capture project that the government has announced as part of the next wave of projects under consideration for fast-tracking.

The first wave of projects announced today for fast-tracking signal that the federal government is taking positive steps towards making Canada into a diversified global energy powerhouse and growing the Canadian economy.

Michael Bernstein, president and chief executive officer, Clean Prosperity

“To unleash more nation-building projects, federal and provincial governments should strike their long-awaited grand bargain on climate policy. The federal government should work with the provinces to strengthen carbon markets, and cancel policies like the oil and gas emissions cap that are unnecessary with strong markets. Provincial governments should commit to carbon market reform to unlock low-carbon investment.    

“Carbon market reform must give big low-carbon projects greater certainty about the value of the carbon credits they will generate. That’s why it’s critical that a grand bargain include a commitment from the federal and provincial governments to jointly offer carbon contracts for difference. These contracts de-risk low-carbon investments by guaranteeing the future value of carbon credits.

“Stronger carbon markets can unlock tens of billions of dollars worth of industrial projects and drive Canada’s low-carbon economic growth far into the future.”

Contact: media@cleanprosperity.ca