BUDGET 2023-2024 - Press release no. 6 of 6 - $2.4 billion to fight climate change and protect biodiversity and our water resources

QUÉBEC, March 21, 2023 /CNW/ - The government is using Budget 2023-2024 to diversify and consolidate its environmental measures. Initiatives totalling $1 billion over five years will make it possible to protect biodiversity and our water resources and to promote good environmental practices.

In addition, for a second consecutive year, the government has substantial additional revenues from the carbon market. These revenues will be used, among other things, to enhance the 2030 Plan for a Green Economy. Today, Budget 2023-2024 confirmed that the 2023-2028 implementation plan will benefit from an additional $1.4 billion.

This increase brings the total amount of money that will be dedicated to fighting climate change over the next five years to $9 billion.

The government is also providing $30 million to support the green transition and decarbonization of the economy. This money will support businesses that develop and commercialize clean technologies.

At the United Nations Conference on Biodiversity (COP15) held in Montréal last December, the government pledged to protect Québec's water resources. Budget 2023-2024 makes this commitment a reality with an investment of $500 million over five years. This initiative will support the creation of the Fonds bleu, which will be funded, in part, by the charges payable for the use of water.

Nearly $20 million is also being provided to support upgrades to municipal dams.

In keeping with a commitment made at COP15, an investment of more than $443 million over five years will be used to implement the Plan nature 2030, which reflects Québec's commitment to global targets for biodiversity conservation. In accordance with the plan's objectives, measures will be put in place to foster public access to nature, take action on threats to biodiversity and support indigenous leadership in biodiversity conservation.

Investments totalling $32 million will also support the creation of greenways and blueways, a structured network of natural environments, and encourage active mobility in Québec City.

The government will also continue to promote good practices in sustainable development by rewarding actions that are good for the environment and applying the polluter pays principle. In this regard, Budget 2023-2024 provides approximately $23 million over two years to promote agri-environmental practices.

The duty on new tires will also be adjusted and increased to ensure long-term funding for the Québec Integrated Used Tire Management Program.

"We presented clear objectives at COP15 and are determined to make them happen. Fighting climate change and protecting biodiversity are at the top of our priority list."

Eric Girard, Minister of Finance and Minister Responsible for Relations with English-Speaking Quebecers

All the details on Budget 2023-2024: Québec.ca/en-budget.

SOURCE Cabinet du ministre des Finances et ministre responsable des Relations avec les Québécois d'expression anglaise