FPAC lauds recognition of biomass technologies as necessary to reducing emissions in Fall Economic Statement
November 21, 2023 By P&PC Staff
The Forest Products Association of Canada (FPAC) issued a statement applauding the federal government’s decision to include forest biomass conversion technologies for heat and electricity generation in its Clean Manufacturing and Clean Electricity Investment Tax Credits (ITCs). The move was announced in the Fall Economic Statement tabled in the House of Commons by Finance Minister Chrystia Freeland.
“This decision marks a significant step forward to grow Canada’s forest bioeconomy and will encourage additional market use for low-grade wood in the face of worsening fire patterns,” said FPAC president and CEO Derek Nighbor. “It’s good news for forestry workers and communities because this will improve our sector’s international competitiveness position in the face of similar incentives in the United States and Europe. We absolutely needed this to be able to compete for global investment in the months and years ahead.”
FPAC explains that forest biomass is a powerful source of carbon-neutral, renewable energy that converts wood residuals like sawdust, branches and bark into energy and lower carbon fuels.
“We are ready to work with the federal government on implementation so we can move Canada into a much stronger position as a destination for forest sector and renewable energy investment,” Nighbor added.
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