The Canadian CCUS business environment will need to be competitive globally to achieve its emission reduction potential. Global companies with facilities across North America and the world can select where to invest in CCUS, and this decision is often determined by the regulatory environment of that jurisdiction in comparison to its competitors. With an unparalleled increase in carbon price and a lack of competitive tax incentives, we fear that Canada’s CCUS business environment is not currently competitive in a global market. Regulatory certainty, tax incentives, and public infrastructure will allow Canada to compete with other jurisdictions that are moving quickly and aggressively to reduce barriers to CCUS investment.
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