Businesses across Canada are developing cleaner ways of doing business not just to reduce harmful emissions, but also to be more resilient and competitive in the 21st centuryeconomy.
Today, during an event at Lafarge Canada's St-Constant cement plant, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, announced the launch of the Net-Zero Challenge, a new national voluntary initiative for businesses operating in Canada. Businesses that join the Challenge commit to developing and implementing credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.
Minister Guilbeault announced a number of founding participants that have joined Canada's Net-Zero Challenge. The Cement Association of Canada hosted the event and is one of the 12 Canadian organizations that have joined the Net-Zero Challenge, making a commitment to reach net-zero emissions by 2050. The Canadian cement industry is a prime example of an entire industry that is in the process of transitioning to net-zero emissions, in close collaboration with the Government of Canada.
Action on climate change must be taken seriously and that is why credibility and accountability are built into the design of the Net-Zero Challenge. For companies to join and remain in the program, they must meet minimum requirements, submit annual progress reports, and produce five-year updates of their net-zero plans. Companies that fail to meet the requirements will be removed from the program.
Companies will benefit from technical guidance, best practices, a community of peer businesses and the opportunity to highlight their commitment to achieving net-zero emissions. The Net-Zero Challenge also includes various participation tiers to encourage ambition and track progress in net-zero planning. The participation tiers begin at the Bronze level and go up to the Diamond level.
Canada's recently announced 2030 Emissions Reduction Plan highlights the actions needed to reduce emissions in various sectors of the economy. The steps taken by businesses to reduce their emissions will complement the investments and regulatory measures that the Government of Canada is taking to fight climate change and strengthen Canada's clean economy.
