Alberta plans to invest $1.4bn to boost innovations in energy sector

Date: 2017-12-06   Author: Pankaj Singh  Category: #industry

Alberta plans to invest $1.4bn to boost innovations in energy sector

The government of Alberta, in Canada, has apparently taken a significant step to curb greenhouse gas emissions from several industrial sectors. In fact, the government has decided to provide financial support to numerous industry verticals – primarily O&G sector to implement innovative solutions for the reduction of carbon emissions.

As per reports, the Alberta government will invest close to USD 1.4 billion for developing innovative projects over the coming seven years. Through this initiative, the Alberta government mainly intends to focus on coal-fired power generators, oil and chemical producers, and other industries that emit more than or equal to 100,000 tons of carbon dioxide per year.

Sources also cite that the government plans to reward the companies that undertake favorable initiatives to reduce carbon footprints, by investing in innovative product development. The Environmental Minister of Alberta, Shannon Phillips, was quoted stating that this system is also designed to maintain competitiveness among energy companies. Currently, the Alberta government has added carbon tax and other environmental regulations to minimize carbon emissions. This year, Alberta implemented USD 20 as a carbon tax for a ton, which will increase up to USD 30 from the beginning of 2018. Apart from this, it has also been reported that the government is looking forward to deploying other favorable legislations in order to exempt carbon tax.

Sources claim that in order to implement this notion rather effectively, the government is planning to set an emission benchmark by providing free GHG emission credits to heavy emitters. Every company will be judged depending on performance improvement against their competitors, with regards to carbon emissions rate, which would make the companies eligible enough for government rewards.

As per experts, this initiative by the government of Alberta is likely to attract more investors in Canada’s tremendously growing oil and gas industry, that would eventually lead to a rise in the development of energy and petroleum-based products.



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

3D Visualization System Market Professional Survey 2021 by Manufacturers, Share, Growth, Trends, Types and Applications, Forecast to 2027

Author: Ashwin Naphade

The and United States 3D Visualization System Market Forecast Report provides details analysis of and United States 3D Visualization System industry which will accelerate your business. and United States 3D Visualization System market report cover...


3D Systems Market Share, By Product Analysis, Application, End-Use, Regional Outlook, Competitive Strategies & Forecast up to 2027

Author: Ashwin Naphade

and China 3D Systems Market Trends covers the companies’ data including Growth potential analysis, Industry segmentation, Business trends, Growth drivers, Price trend analysis. The Report also Gives Detail Analysis on Market concern Like an...


Cinema Ticketing System Service Market Size | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2027

Author: Ashwin Naphade

and United States Cinema Ticketing System Service Market report provides key statistics on the market status of the and United States Cinema Ticketing System Service Industry and is a valuable source of guidance and direction for companies and in...