Statement issued by Rick Christiaanse, Invest Alberta CEO
Invest Alberta welcomes the news of the Alberta Carbon Capture Incentive Program that will advance Alberta’s clean technology sector and help ensure Alberta remains competitive internationally.
Willing to allocate up to $5.3 billion over the next 10 years to provide major industries with up to 12 per cent of new eligible capital project costs, the Government of Alberta is signaling to global companies that Alberta is committed to making it easier for sustainable industries to grow.
We know investors are increasingly seeking opportunities in regions committed to environmental responsibility, and Alberta’s proactive approach aligns with global efforts to combat climate change.
The Pathways Alliance has outlined plans to spend about $16.5 billion on its carbon capture and storage network at the same time that global companies are pursuing clean and renewable energy projects – from Amazon to Dow, POSCO Holdings to ITOCHU Corporation, and Sumitomo Corporation to name a few.
The launch of this new incentive program sends a powerful message to investors worldwide that Alberta is committed to creating a competitive environment for businesses to succeed.
We look forward to sharing more when program details become available in spring 2024.
In the meantime, read more about Alberta’s plan to accelerate emissions reductions.
About Invest Alberta
Invest Alberta engages the world and provides high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits. Since 2020, Invest Alberta has supported the commitment of nearly $20 billion in investment that created more than 27,000 new high-value jobs for Albertans. For more information, visit investalberta.ca.
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