More than 400 Canadian climate and energy scientists and academics are urging the federal government to cancel the carbon-capture investment tax credit slated for release this year, arguing it’s not an effective way to reduce greenhouse gas emissions.
Carbon capture, utilization and storage facilities force carbon-dioxide emissions deep into the ground to keep them out of the atmosphere. The technology can be used in various major industrial sectors, including fossil-fuel production, power generation and manufacturing. The International Energy Agency, a Paris-based organization that advises industrialized nations on energy policy, says CCUS will play a crucial role in global emissions reduction.
“Introducing a tax credit for CCUS for the energy sector will lock-in continued dependence on Canada’s largest and most rapidly growing source of greenhouse gas emissions.” It also urged the federal government to stick to its plan of disqualifying any projects aimed at enhanced oil recovery , a process in which the captured carbon is injected into mature oil wells to boost production. That’s how 16 of the 21 large-scale CCUS projects in operation in 2020 used captured carbon, according to the IEA.
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