
Alberta government aiming to accelerate emissions reductions
EDMONTON, AB – Alberta’s government says it is introducing a new carbon capture incentive program that will cut emissions and create jobs.
According to provincial officials, Alberta is a global leader in carbon capture, utilization and storage (CCUS) development and regulation, and the new Alberta Carbon Capture Incentive Program (ACCIP) is expected to provide major industries with up to 12 per cent of new eligible capital project costs.
The ACCIP is anticipated to help businesses in multiple industries, such as oil and gas, power generation, hydrogen, petrochemicals and cement, and reduce their emissions by incorporating CCUS technology into their operations. CCUS is currently the only viable option available for these industries to significantly reduce their emissions, say government officials.
“Alberta is transitioning away from emissions, not from proven, reliable energy sources,” says Danielle Smith, Premier of Alberta. “We have invested significantly in CCUS projects and now we’re encouraging the private sector to do the same. Together, we can ensure Alberta remains a leader in providing responsibly sourced energy solutions to meet worldwide demand.”