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This Week's Highlights

Consultation: Investment Tax Credit for Carbon Capture, Utilization, and Storage

In Budget 2021, the Federal government proposed the introduction of an investment tax credit for capital invested in carbon capture, utilization, and storage (CCUS) projects.

The federal government intends for the new investment tax credit be available for a broad range of CCUS applications across different industrial subsectors (e.g. concrete, plastics, fuels), including blue hydrogen projects and direct air capture projects, to the extent that captured CO2 is not used in enhanced oil recovery projects. The government is seeking input from all industrial subsectors, recognizing that various subsectors face different challenges in adopting CCUS.

The government is seeking your input.

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