Regulatory

Federal and provincial funding announced for critical minerals development and clean energy.

The federal government announced an investment of up to $137 million from the Canada Growth Fund to Svante, contributing to its new carbon capture and removal filter manufacturing facility currently under construction.

The Pacific Economic Development Agency of Canada (PacifiCan) has announced funding to the City of Prince George to develop a regional Hydrogen Hub for Central and Northern British Columbia. This initiative supports Canada’s Hydrogen Strategy, while also creating jobs, attracting investments, and boosting business revenues in the region.

Bill C-59 receives royal assent bringing significant amendments to the Competition Act and affecting how companies market and promote their efforts to reduce their environmental footprint and address global climate change.

Ten years after the first application was submitted to the Canada Energy Regulator (CER), the Trans Mountain Expanded System commenced commercial operations. The pipeline has been successfully filled with crude oil at the terminal in Edmonton, Alberta, to load tankers at the Westridge Marine Terminal in Burnaby, BC.

The Government of Canada released Budget 2024: Fairness for Every Generation, which aims to attract more investment in the net-zero economy by increasing economic investment tax credits, investing in research grants to provide good jobs for younger generations, and ensuring Indigenous Peoples share in this growth.

Both the Governments of British Columbia and Saskatchewan unveiled their respective 2024-25 Budgets. British Columbia’s funding is directed towards transitioning to a low-carbon economy, while Saskatchewan’s focuses on achieving a net-zero emissions electricity grid by 2050, supporting cleantech startups, and bolstering the energy and mining sectors.

The federal government is opening consultation and engagement activities for GHG Emission Reduction Targets, Right to Healthy Environment, and Design Options for Clean Electricity.

Effective 15 April 2024, industry applicants planning projects on Treaty 8 Lands must incorporate new planning and mitigation measures outlined by the BC Energy Regulator and Treaty 8 First Nations. Proponents will be required to submit additional documentation demonstrating adherence to these measures as part of their application, and some measures may necessitate pre-application planning and investigations based on project specifics.

The Federal Government announced its regulatory framework for capping emissions in the oil and gas sector – a national cap-and-trade system that claims will set emissions limits without restricting production. The framework proposes to cap 2030 emissions at 35-38% below 2019 levels to support the government’s objective of reaching net-zero emissions by 2050.