Canada Prepares to Enter Global Carbon Removal Markets: Carbon Business Council Statement
Carbon Business Council coalition members in Canada identify approximately $900 CAD million in carbon removal investment export opportunity
The Government of Canada announced today that it will develop a policy framework to buy and sell international credits, signalling a shift in Canadian federal policy and a boost in the country’s export potential. The following statement can be attributed to Melissa Hillier, Associate Director of Policy at the Carbon Business Council, a global coalition of more than 100 organizations working to accelerate the development of carbon dioxide removal markets.
“We applaud the Government of Canada for expanding the role of international cooperation in its climate and competitiveness strategy. Diversifying exports to include carbon dioxide removal credits benefits Canada, its trading partners, and the global climate. Carbon Business Council’s Canadian coalition members have identified roughly $900 million CAD in potential carbon removal credit sales waiting on a clear pathway to export to the international market. With strong rules on environmental integrity and delivery, Canada can convert this global investment opportunity into durable removal projects, skilled jobs, and economic growth in communities across the country.”
The Carbon Business Council leads a Canada working group of more than 20 organizations engaged in or exploring carbon removal deployment in Canada. Public polling released by the Carbon Business Council and Carbon Removal Canada finds 81% of Canadians view carbon removal as important to Canada’s future.
The Carbon Business Council continues to engage on international markets for carbon removal.
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The Carbon Business Council (CO2BC) is a coalition representing more than 100 carbon management organizations across all major pathways who are united to build a more prosperous planet. Our coalition accelerates market development across sectors and continents through ecosystem building, policy engagement, and public affairs
