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A LEED-certified home in Toronto, which underwent retrofits to improve its energy efficiency.Deborah Baic/The Globe and Mail

Justin Trudeau’s Liberals have released their promised climate plan to exceed the country’s commitments to reduce greenhouse-gas emissions by 2030 under the Paris Agreement. The plan is far-reaching and includes $15-billion in new spending, an increasing price on carbon, the promise of new regulations, and commitments to supporting electric vehicles and building retrofits.

Pumpjacks draw oil out of the ground as a deer stands in a canola field near Olds, Alta., in July 2020.Jeff McIntosh/The Canadian Press

  • The carbon tax will rise by $15 per ton after 2022. Carbon-pricing rebate payments will begin to be distributed to households quarterly, starting as early as 2022. The payments are currently paid out annually.
  • Narrow the scope of the Clean Fuel Standard to cover only liquid fossil fuels, a significant concession to industry. As originally conceived, the new measure would have covered liquid, gaseous and solid fuels.
  • A commitment to exploring carbon border adjustments by working with like-minded economies, including the European Union and the United States.
  • $1.5-billion for a low-carbon and zero-emissions fuels fund to increase the production and use of low-carbon fuels, including hydrogen, and a pledge to unveil Canada’s hydrogen strategy before the end of the year.
  • $964-million over four years for “smart renewable and grid modernization projects” and a commitment to advance clean-energy transfer between provinces.
  • $2-billion in financing for commercial and large-scale building retrofits (previously announced as part of the Canada Infrastructure Bank’s growth plan), as well as $2.6-billion for home-energy retrofits, announced in the government’s fiscal update.
  • $3-billion over 10 years to partner with provinces, NGOs, Indigenous communities, municipalities and private landowners to plant two billion trees.
  • Strengthen regulations for methane emissions from the oil and gas sector by establishing new targets and regulations for 2030 and 2035.

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