Bill C-12 Commits Businesses to Net-Zero Emissions by 2050
1 min read
The Canadian government is on pace to produce net-zero emissions by 2050 after bill C-12 has recently been passed. For the financial sector, this 30-year plan will be headed by the Minister of Finance to transition to a low-carbon economy by employing the Task Force on Climate-related Financial Disclosures framework on annual reports.
The goal will be reached in phases, with specific targets set starting 2030 and every five years following. Following the announcement, it was proposed that "We need to continue to show that we are serious about meeting the future demands of global markets and that we understand the risks of a warming climate. By further supporting the direction that businesses have already been setting, the Canadian Net-Zero Emissions Accountability Act will do exactly that."
In order to great incentive for businesses and property owners alike, the Electric Vehicle and Alternative Fuel Infrastructure Deployment Initiative (EVAFIDI) offers repayable contributions to support the construction of a EV charging network. The program is administered and supported by Natural Resources Canada (NRCan).
The goal is simple: to significantly reduce carbon emissions and better our planet's future by working together to rectify climate change.
Learn more about the new federal legislation.
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