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The province is expanding its CleanBC Program for Industry.

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CleanBC program expanding, encouraging industry to choose clean tech

By Richmond Sentinel

Published 3:41 PDT, Mon March 28, 2022

Last Updated: 3:42 PDT, Mon March 28, 2022

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The CleanBC Program for Industry is expanding to build greater collaboration between industry and B.C.'s clean tech sector.

The program, which aims to reduce industry emissions through co-investment in innovation, is opening its next round of funding. The CleanBC Industry Fund is now open to applications for projects that will match carbon tax revenue with industry investments to generate new economic opportunities to reduce pollution.

"Our government is accelerating the adoption of clean technologies to reduce emissions and support good, stable jobs for people across our province," said George Heyman, Minister of Environment and Climate Change Strategy. "Our CleanBC roadmap recognizes the urgent need to act faster on all fronts to protect communities in the face of climate change. Communities need the kind of low-carbon industry that will be here for the long haul, and these investments create more opportunity to meet that need."

The new round of the fund includes three project streams:

• The Emissions Performance stream supports projects that reduce emissions using commercially available technologies.

• The Innovation Accelerator stream supports projects that use clean technologies to demonstrate innovative solutions for industry emissions.

• The Project Feasibility Studies stream, opening April 1, supports preliminary studies that aim to remove barriers, mitigate risks and determine the viability of potential emissions reduction projects.

"An investment in clean technology is an investment in the future of British Columbians," said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. "The CleanBC Industry Fund supports our CleanBC and StrongerBC Economic Plan goals of clean growth and will help businesses become more competitive in the global economy. This funding will help us tackle climate change while growing an economy that works for people and the environment."

This is the fourth offering of the Emissions Performance stream. The province has committed $171 million for the CleanBC Program for Industry for the 2022-23 fiscal year. Budget 2022 provides an additional $111 million in 2024-25 to enhance the CleanBC Industry Fund to support the further decarbonization of industry. The previous three rounds of the CleanBC Industry Fund resulted in a combined investment into the clean economy of nearly $310 million from the province, industry and partners.

Projects from the Innovation Accelerator stream will expand interest and investment in advanced clean technologies—an area of expertise for B.C.'s world-leading clean tech sector.

"Industry adoption of clean technologies is essential to creating a thriving green economy and meeting net-zero climate targets. By connecting large corporate leaders to innovation in a way that incentivizes the implementation of clean tech, and through investing in B.C.'s green future, we will see remarkable economic growth," said Jeanette Jackson, chief executive officer of Foresight Cleantech Accelerator Centre. "B.C. is already a global leader in clean tech, and this will truly accelerate by building on existing strengths and capabilities."

The fund is an important part of the CleanBC Roadmap to 2030, which is the province's plan to expand and accelerate climate action by building on B.C.'s natural advantages: abundant, clean electricity; innovative technology; and a highly skilled workforce.

CleanBC Industry Fund projects are chosen based on a competitive process and an evaluation of detailed project plans, business cases and the potential to cost-effectively reduce emissions. To be eligible, applicants must have paid carbon tax and have emissions of more than 10,000 tonnes of CO2 per year under the Greenhouse Gas Industrial Reporting and Control Act.

To learn more about the CleanBC Industry Fund and see the full list of projects from the third round, click here.