A B.C. program designed to reduce industry emissions and maintain global competitiveness has won an international award at the COP26 conference in Glasgow.
The CleanBC Program for Industry was awarded most creative climate solution from the Under2 Coalition, which is a global alliance of state and regional governments committed to ambitious climate action in line with the Paris agreement.
The program includes two initiatives that work together to encourage investment in clean technologies and operations that reduce emissions from industry.
The first, called the CleanBC Industry Fund, uses a portion of carbon tax revenue paid by large emitters to co-invest in projects that reduce greenhouse gas emissions in sectors such as mining, pulp and paper, cement, agriculture and oil and gas.
The second, called the CleanBC Industrial Incentive Program, reduces carbon tax costs for operators if they can demonstrate they are among the lowest emitting in the world for their sector.
“We are expanding and accelerating climate action as we work across sectors to reduce climate-harming pollution and create new opportunities for people and businesses in the clean economy,” said George Heyman, minister of environment and climate change strategy. “It’s an honour to receive the award recognizing the success of this program is about strong collaboration supporting innovation.”
The award was presented at the COP26 climate conference in Glasgow at the Under2 Coalition Awards as part of the group’s general assembly.
The CleanBC Industry Fund is investing $43 million in 32 projects across the province to reduce greenhouse gas pollution, with additional contributions coming from industry and partners. In total, the projects are expected to reduce emissions by about 1.4 million tonnes of carbon dioxide-equivalent by 2030, according to the province.
To be eligible, applicants must have paid carbon tax and have emissions over 10,000 tonnes of CO2e per year under the Greenhouse Gas Industrial Reporting and Control Act.