Surge in Plant-Based Alternatives Innovative APAC Innovations and Consumer Interest Set to Hit Shelves in 2025
Canada Takes Initiatives to Finance Green Technologies in 2023
By Aarti Dhapte , 27 December, 2023
The investment in clean energy transformation in different countries will increase exponentially in 2023. Countries worldwide have prepared themselves to achieve the target of clean energy transition by 2050 and Canada is one of them. The Canadian government has revealed that the country will finance investment tax credits (ITCs) for the Carbon Capture and Storage (CCS) and net-zero energy technologies in 2023.
The Canadian government’s decision on the subsidies will lead to more investments for green energy in 2023. Canada is known to be the fourth largest petroleum-producing country in the world. Therefore, Carbon capture and storage (CCS) is considered an essential factor for the decarbonization process in oil production. Canada takes these necessary initiatives to become a leading producer and supplier of green technology worldwide. Similarly, the United States invests in clean-energy projects, investing more than USD 132 billion in 2022 and 2023. Canada takes the United States as its competition to achieve the clean energy transition with various initiatives in 2023. The Canadian government announced that the government will decide ITCs for hydrogen and clean technology after the spring budget in 2024; however, the clean electricity initiative in Canada will be done by the end of 2024.
The government's investment in Canada focuses mainly on transforming green energy. The clean energy transition around the world is expected to be achieved by 2050, while half of the growth is supposed to be achieved by the end of 2030. Therefore, various nations are taking necessary steps to achieve net-zero targets by limiting carbon emissions, transportation electrification, and many other ways in 2023.Value of the CCUS Tax Credit
Latest News
Surge in Plant-Based Alternatives Innovative APAC Innovations and Consumer Interest Set to Hit Shelves in 2025
The Plant-Based Surge: New Meat Alternatives Hitting APAC Shelves Market 2025 is benefitting from an innovation cycle, a change in diet preferences, and sustainability needs. There is an emerging focus from start-ups, universities, and global food…
Recycled Polymers Surge in Global Packaging Demand in 2025
The global packaging industry is projected to have a sharp increase in the consumption of recycled polymers in relation to sustainability goals by 2025. This change is likely caused by regulations, business commitments to sustainability, and advances…
Flexible Packaging Market 2025 Sees Strong Growth Driven by Food Waste Reduction Initiatives
The Flexible Packaging Market’s role in reducing food waste in 2025 is becoming increasingly pivotal as governments, food producers, and packaging companies align around sustainability targets. With global food waste exceeding 1.3 billion tons…
Green Chemistry Update Startups Scale Bio-Based Resin Production in the CnM Market 2025
In 2025, the CnM (Composites and Materials) Market is witnessing a pivotal shift as green chemistry startups accelerate the production of bio-based resins, driven by regulatory pressures and sustainability commitments across industries. The momentum…
Solar Prices Fall by 12% in the first quarter of 2025 Effects on India's Renewable Energy Sector
In the first quarter of 2025, India experienced a remarkable decline of 12 percent in the cost of solar photovoltaic (PV) systems for the first time in history. This is a turning point for the country's renewable energy sector. The improvements in…
Aarti Dhapte
Team Lead - Research
Latest News
Recycled Polymers Surge in Global Packaging Demand in 2025
Flexible Packaging Market 2025 Sees Strong Growth Driven by Food Waste Reduction Initiatives
Green Chemistry Update Startups Scale Bio-Based Resin Production in the CnM Market 2025
Solar Prices Fall by 12% in the first quarter of 2025 Effects on India's Renewable Energy Sector
