Below is an excerpt from NEIA Chair Alex Templeton’s recent editorial in The Telegram (May 4) on carbon pricing and the establishment of a Clean Technology Innovation Fund.
Click here to read the entire piece.
Expected revenues from carbon pricing aren’t insignificant.
In 2019 Newfoundland and Labrador will likely see tens of millions of dollars, growing to potentially hundreds of millions by 2022. Though other provinces are reinvesting 100 per cent of carbon pricing revenues into programming to help individuals, businesses, and industries deal with rising costs, we accept that Newfoundland and Labrador faces extraordinary fiscal challenges and that this isn’t possible in our jurisdiction.
We do believe that it’s critical to provide some level of support to those industries on which our provincial economy relies, where there may not be ready-made solutions to help reduce carbon pollution. Industry will need help to make the investments required to develop new clean technologies.
As such, NEIA is calling on the province, as part of its carbon pricing plan, to establish a Clean Technology Innovation Fund.
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