Forest Products Association of Canada (FPAC) has voiced its support for the Ministry of Environment and Climate Change announcement of $2 billion in federal funds over the next 5 years for the Low Carbon Economy Fund.
“Canada’s forest products sector is a leader in the fight against climate change. We were the first major Canadian industry to launch a comprehensive plan to reduce carbon through our 30 X 30 Climate Change Challenge announced in May 2016,” said Derek Nighbor, CEO of FPAC. “Through our work in Canada’s forests, at our mills and by the products we make we are a sector that alone can help the federal government achieve 13 percent of its carbon reduction goal by 2030.”
“With most of our operations in rural and northern Canada, we know very well that there are challenges and opportunities facing our workers and our communities as we work together to address climate change. Today’s announcement by Minister McKenna provides a real opportunity for companies that are interested in investing and innovating to secure a lower carbon economy.”
Details of the funding are as follows:
An envelope of $1.4 billion will be available to support the leadership commitments from provinces and territories that they outlined in the Pan-Canadian Framework on Clean Growth and Climate Change.
The remainder of funds will be available for the implementation of the Pan-Canadian Framework and for projects submitted by provinces and territories, municipalities, Indigenous governments and organizations, businesses and both not-for-profit and for-profit organizations. Projects that best reduce GHG emissions and generate clean growth will be considered for funding.