The Net Zero Accelerator initiative is reaching out to the private sector for innovative projects in high-emitting sectors
March 18, 2022 - Ottawa, Ontario
Canada's future is clean and green. To cut pollution, build a strong, sustainable economy and reach net zero by 2050, the government and the private sector must work together.
One of the key instruments in this collaboration is the Strategic Innovation Fund's Net Zero Accelerator (NZA) initiative. The Government of Canada has already earmarked $8 billion through the NZA to support the decarbonization of domestic high emitters, to drive the green transformation of Canadian industry, and to help develop clean technologies and a Canadian battery ecosystem.
Building on this, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, today announced a call to action to industry leaders, inviting them to put forward their most ambitious projects to help Canada meet its climate goals. Through this call to action, the government and private sector will work together to identify projects that will support the decarbonization of key sectors of Canada's economy.
The result of this initiative will demonstrate how the private and public sectors can collaborate to significantly reduce emissions and set a path to net zero by 2050. Ambitious and high-impact projects identified through this process will contribute to the future of Canada's sustainable economy.
Industry partners are encouraged to engage with Innovation, Science and Economic Development Canada to explore possibilities through one of two strategic investment paths:
- Path 1: High-emitting sectors-Proposals that offer significant and short-term emission reductions within the next decade, helping Canada meet climate targets and likely contributing to broader economic, innovation, social or other types of benefits.
- Path 2: Transformational ideas pathway-Proposals that may be in earlier stages of development but that have long-term potential to set high-emitting sectors on a transformative path to net zero by 2050 or sooner.
