Government of Canada launches call to action targeting industrial decarbonization of high-emitting sectors

The Net Zero Accelerator initiative is reaching out to the private sector for innovative projects in high-emitting sectors

OTTAWA, ON, March 18, 2022 /CNW/ - Canada's future is clean and green. To cut pollution, build a strong, sustainable economy and reach net zero by 2050, the government and the private sector must work together.

One of the key instruments in this collaboration is the Strategic Innovation Fund's Net Zero Accelerator (NZA) initiative. The Government of Canada has already earmarked $8 billion through the NZA to support the decarbonization of domestic high emitters, to drive the green transformation of Canadian industry, and to help develop clean technologies and a Canadian battery ecosystem.

Building on this, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, today announced a call to action to industry leaders, inviting them to put forward their most ambitious projects to help Canada meet its climate goals. Through this call to action, the government and private sector will work together to identify projects that will support the decarbonization of key sectors of Canada's economy.

The result of this initiative will demonstrate how the private and public sectors can collaborate to significantly reduce emissions and set a path to net zero by 2050. Ambitious and high-impact projects identified through this process will contribute to the future of Canada's sustainable economy.

Industry partners are encouraged to engage with Innovation, Science and Economic Development Canada to explore possibilities through one of two strategic investment paths:

• Path 1: High-emitting sectors?Proposals that offer significant and short-term emission reductions within the next decade, helping Canada meet climate targets and likely contributing to broader economic, innovation, social or other types of benefits.
• Path 2: Transformational ideas pathway?Proposals that may be in earlier stages of development but that have long-term potential to set high-emitting sectors on a transformative path to net zero by 2050 or sooner.

"Our government is calling for ambitious and innovative projects from companies in high-emitting sectors to help Canada scale up our clean-tech sector as we chart a path to net-zero. By supporting businesses that understand the economic benefit of lower emissions, we're prioritizing a strong and sustainable economy, Canadian jobs and ensuring a cleaner future for generations to come."
?  The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

• In December 2020, the Government of Canada announced a strengthened climate plan that includes investment in the Strategic Innovation Fund's Net Zero Accelerator (NZA) initiative.
• The NZA is seeking additional greenhouse gas (GHG) emission reductions and incentivizing industry collaboration with established industries and clean technology suppliers to help Canada reach its climate targets.
• Potential applicants are invited to attend an information session about this funding opportunity on April 5, 2022, and find out about what they can do to help Canada meet its GHG emission reduction targets. For further information, please visit the information session sign-up page.
• The Government of Canada invites companies to request a Strategic Innovation Fund application package for Path 1: High-emitting sectors and submit proposals by June 30, 2022.
• Path 2: Transformational ideas pathway is now open, on an ongoing basis, to engage with companies as they move through the project development process, build partnerships and seek access to appropriate federal funding. Companies will meet with the new Industrial Decarbonization Team?a dedicated team of specialized officials who will provide tailored guidance and advice on meeting the government's industrial decarbonization priorities. Interested proponents should contact the Industrial Decarbonization Team at [email protected].

• Net Zero Accelerator initiative
• Strategic Innovation Fund
• Prime Minister announces Canada's strengthened climate plan to protect the environment, create jobs, and support communities
• Industrial decarbonization of high-emitting sectors
• Call to Action?Path 1: High-emitting sectors
• Industrial Decarbonization Team

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SOURCE Innovation, Science and Economic Development Canada