Alberta has pledged $1.4 billion over 7 years to help industries cut emissions of greenhouse gases.
The oil sands industry is to be the largest recipient. The government is making $440 million available to it to increase production while reducing emissions as it adjusts to new rules for large emitters.
The government also will make $400 million in loan guarantees available to support investment in efficiency and renewable energy, $240 million for industrial energy-efficiency projects, $225 million for “innovation projects across sectors,” and $60 million in grants for bioenergy projects.
Most of the funding will come from carbon levies imposed by Alberta’s Climate Leadership Plan.