Cement Association of Canada (CAC) President and CEO Adam Auer released the following statement in response to Canada’s 2022 Federal Budget:
“We welcome the measures put forward in today’s budget to support the growth and sustainability of Canada’s economy. Maintaining economic growth and competitiveness throughout the transition to a global low-carbon economy is important to the success of Canada’s cement and concrete industry.
“We are pleased to see the announcement of an Investment Tax Credit to support carbon capture, utilization and storage (CCUS). This technology is vital for our industry to reach net-zero concrete. The creation of this tax credit will not only help make CCUS technology more cost competitive, but it will also contribute to real emissions reductions from our sector.
“It is equally important to increase demand for the low-carbon products our industry produces, which is why we are also pleased to see support for a Canada Green Buildings Strategy that will support building code reform, accelerate the adoption of performance-based national building codes, and promote the use of lower carbon construction materials. When low carbon cement and concrete are integrated into how Canada spends its infrastructure dollars – including on affordable housing solutions – our industry makes a meaningful contribution to climate change mitigation and resilience, while enhancing our country’s economy and supporting skilled high paying jobs in communities across the country.”
Canada’s cement and concrete industry has engaged in a partnership with Industry, Science and Economic Development Canada (ISED) to achieve net-zero concrete by 2050. This partnership has the potential to reduce over 15 megatonnes of GHGs cumulatively by 2030, and ongoing reductions of over 4 megatonnes annually.
A roadmap to net-zero concrete that is unique to Canada’s economy and policy environment – while aligning with international peers – will be released this year.