CIAC responded to Ontario’s discussion paper that explores possible legislative changes to remove regulatory barriers preventing carbon capture and storage (CCS) in the province.
CIAC recognizes that climate change and the transition to a lower carbon economy is an important policy objective. The global chemistry sector is undergoing a renewal and transformation to net-zero carbon emissions. This transformation is creating a new wave of generational investments to decarbonize production. The development and approval for CCS in Ontario along with complementary regulatory actions provides opportunities for Ontario to benefit in this transformation and begin to attract similar carbon-neutral chemistry investments announced in Alberta and other North American jurisdictions that allow CCS.