Canada Ban on Fossil Fuel Tax Breaks to Target Measures That Boost Production
- Energy firms must ‘ramp up’ decarbonization, minister says
- Canadian industry group argues sector is not subsidized
An oil pumpjack near Longview, Alberta.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada will propose long-awaited measures to end some fossil fuel subsidies this month, becoming the first country in the Group of 20 to make the move, its environment minister said.
Canada and other G-20 countries committed in 2009 to phase out “inefficient” fossil fuel subsidies but did not set a deadline. In 2016, Canada, the US and Mexico promised to complete the process by 2025, but Prime Minister Justin Trudeau’s government has since accelerated its timeline to this year.