A British Columbia (BC), Canada-based carbon clean up solution, the CleanBC Program for Industry, has won an award at the COP26 event in Glasgow.
The award, presented for the most creative climate solution from the coalition focuses on two ‘complementary initiatives’ that seek to spur investment in clean technologies and operations that reduce carbon emissions from industry.
The CleanBC Industry Fund uses carbon tax revenue paid by large emitters to transfer into sustainable greenhouse gas (GHG) emission reduction projects.
Another initiative, the CleanBC Industrial Incentive Program aims to reduce carbon tax costs for operators providing they show that they are among the lowest emitting in the world for their specific sector.
Describing the award as an honour, George Heyman, Minister of Environment and Climate Change Strategy, BC Government, said, “We are expanding and accelerating climate action as we work across sectors to reduce climate-harming pollution and create new opportunities for people and businesses in the clean economy.”
“The award is another indication that we are on the right path through the new CleanBC Roadmap to 2030.”
With a target of reducing 1.4m tonnes of CO2 equivalent (CO2e) by 2030, the CleanBC Industry Fund is investing $43m in 32 projects across BC.
Eligibility for the scheme requires applications to have paid carbon tax and have emissions over 10,000 tonnes of CO2e per year.