Last week Minister Wharton and I met with key industry and business leaders at the Carbon Capture Industry Roundtable on the future of carbon capture and storage in our province, an opportunity that will protect our environment and good jobs in Manitoba’s heavy industries.
Federal carbon tax increases threaten the security of Manitoba’s economy. That is why our government is moving forward to develop a made-in-Manitoba regulatory framework for carbon capture and storage. This will give businesses and industries access to the Government of Canada’s Carbon Capture, Utilization and Storage Capital Investment Tax Credit as well as savings on the federal carbon tax for large industrial emitters.
Carbon capture and storage is an important emissions reduction technology that offers unique benefits to both environment and industry. This process prevents greenhouse gases, including carbon dioxide, from entering the atmosphere by storing emissions from underground industrial facilities. It will help Manitoba achieve its new five-year emission reduction target of 5.6 megatonnes and promote new economic opportunities for the benefit of all Manitobans.
We will continue to work collaboratively with all stakeholders to advance our shared goals in the Made-in-Manitoba Climate and Green Plan while continuing to attract investment and grow our economy.