The Cement Association of Canada releases official statement in response to the Federal Fall Economic Statement

OTTAWA, ON, Nov. 21, 2023 /CNW/ - The Cement Association of Canada (CAC) is pleased to support the measures and investments announced in the Federal Fall Economic Statement to advance the Carbon Capture Utilization and Storage Investment Tax Credits (CCUS ITC) and others. It is essential that Canada keeps pace with other jurisdictions such as the United States and the EU (European Union) in attracting investment in industrial decarbonization. Attracting investment means that Canada's economy remains competitive and retains good jobs, while staying ahead of the global imperative to reduce carbon emissions.

Adam Auer, President and CEO of the Cement Association of Canada, commented, "We commend the government's recognition of the importance of carbon capture utilization and storage in achieving our climate objectives. The cement industry is committed to reducing its carbon footprint, and these investments will facilitate the deployment of innovative technologies that are essential for achieving our Concrete Zero sustainability action plan objectives. "

The CAC is also encouraged by the investments in housing announced in the Fall Economic Statement. As Canada's population continues to grow, so does the need for housing. The investments in the housing sector not only address this demand but also pave the way for the development of more energy-efficient, more climate resilient and environmentally friendly homes. The use of innovative building materials and sustainable construction practices is paramount in achieving these goals, and cement and concrete will play a pivotal role in this process.

"Cement is a fundamental building material that supports high quality and affordable structures while also offering the potential to significantly reduce the environmental footprint of homes," said Adam Auer "We are encouraged to see the focus on building greener homes, and we believe that cement can greatly contribute to the construction of affordable, durable, energy-efficient, and low-carbon buildings."

The Cement Association of Canada is the voice of Canada's cement industry, representing five vertically integrated cement companies that provide a reliable local supply of cement to help build Canadian communities and critical infrastructure. The cement and concrete industry contribute approximately 158,000 direct and indirect jobs across the country, and $76 billion dollars in direct, indirect, and induced economic impact into the Canadian economy.

www.cement.ca

SOURCE Cement Association of Canada