On April 19th, 2021, the Canadian government tabled Federal Budget 2021 – one of the most important budgets of our time. The budget includes a plan to build a clean economy, with tax incentives to grow zero-emission technology manufacturing, carbon capture, utilization, and storage, and green hydrogen. Our team of leading CCI professionals help make sense of the complex and ever-changing Canadian landscape by exploring the implications of key federal budget initiatives, investments, and proposed tax measures regarding clean technology and a sustainable future. Budget 2021 commits $17.6 billion to “green stimulus measures” for Canada’s traditional industries, including its natural resources, manufacturing and energy sectors.
Chapter 4 – Helping Canadian Businesses Grow and Succeed
Chapter 4 focuses on helping Canadian business grow and succeed by investing in Canadian innovators through a renewed venture capital catalyst initiative, boosting Canada’s cleantech exports, and supporting innovation and industrial transformation.
- $450 million over five years beginning in 2021 to provide additional venture capital to entrepreneurs, which may be of interest to early-stage energy companies across Canada
- $21.3 million over five years starting in 2021 for Global Affairs Canada’s continuation of its International Business Development Strategy for Clean Technology
- The intention of the International Business Development Strategy is to assist Canadian firms in identifying export opportunities and accessing international climate financing
- $8 billion over seven years starting in 2021 for increased funding in the Strategic Innovation Fund’s Net Zero Accelerator to help support industry decarbonization and clean technology projects
Chapter 5 – A Healthy Environment for a Healthy Economy
Budget 2021 recognizes