Ottawa expected to unveil guidelines next week aimed at curbing fossil fuel tax breaks
‘Similar to policy that ended most of Canada’s public financing for international projects’
OTTAWA — Fourteen years ago, Canada joined the rest of the G20 in promising to wean fossil-fuel companies off of government subsidies that encouraged wasteful consumption and undermined efforts to slow climate change.
Next week, that promise is expected to be fulfilled.
Environment Minister Steven Guilbeault is set to publish policy guidelines that will dictate the circumstances under which future federal investments can still flow to Canadian oil and gas firms.
“Canada will no longer support subsidies that are directly aimed at the oil and gas sector that give that sector an advantage in comparison to other sectors, and subsidies that help the production of fossil fuels,” Guilbeault said during a media availability ahead of an environment ministers’ meeting in Belgium on July 12.
