Canada is set to introduce legislation this month to provide subsidies for carbon capture and net-zero energy projects, part of a plan valued at approximately USD20bn over five years. The legislation, expected to be submitted later this month, will include details about the funding for the investment tax credit (ITC). The move is considered crucial for reducing emissions from Alberta’s oil sands while maintaining production. The investment tax credits are part of Canada's strategy to achieve net-zero emissions by 2050. The legislation aims to provide certainty to investors and foster investment in such projects.

Source: Carbonherald