Canada is a world leader in Carbon Capture and Storage and we are in an excellent position to use this technology on a wide scale.  Carbon Capture and Storage can help us balance our need for energy with our need to protect the environment.

Carbon Capture and Storage is an integral part of the Government of Canada’s aggressive plan to achieve an absolute reduction of 20 percent in Canada’s greenhouse gas emissions by 2020.

The Canada–Alberta ecoENERGY Carbon Capture and Storage Task Force estimated that Canada has the potential to store underground as much as 600 million tonnes of carbon dioxide (CO2) a year, equal to roughly three-quarters of Canada’s current annual emissions of greenhouse gases.

In total, the Government of Canada and the governments of Alberta, Saskatchewan and British Columbia have provided over $3 billion in funding for Carbon Capture and Storage over the last year.

On July 8, 2008, the Government of Alberta announced a $2 billion fund to accelerate the development of the province’s first-large scale, commercial Carbon Capture and Storage projects.  On June 30, 2009, it announced that it has selected seven companies with which it will pursue letters of intent for three projects.

In Canada’s Economic Action Plan of 2009, the Government of Canada introduced new measures to support a cleaner and more sustainable environment and help meet Canada’s climate change objectives.

These measures include the creation of a new Clean Energy Fund to provide $1 billion over five years for clean energy research and demonstration projects.  Of this amount, $650 million will be invested in large-scale Carbon Capture and Storage projects.

The Clean Energy Fund will build on previous investments, such as the ecoENERGY Technology Initiative, through which Canada is providing $140 million for industry-led efforts to advance Carbon Capture and Storage technologies.

The Government of Canada has also made significant investments ($240 million) in one of the world’s first and largest full-scale commercial demonstrations of Carbon Capture and Storage at Boundary Dam, a coal-fired electricity plant in Estevan, Saskatchewan.

The Government of Canada is a founding partner in the International Energy Agency Weyburn-Midale CO2 Monitoring and Storage Project, also located in Saskatchewan.  The Weyburn-Midale project is one of the largest international CO2 measuring, monitoring and verification projects in the world.  Research done there will be used to implement similar projects in other countries.

In Budget 2008, the Government of Canada provided funding to the Institute of Sustainable Energy, Environment and Economy at the University of Calgary, where researchers will work to address a number of outstanding regulatory, economic and technological issues.  Support was also provided for Nova Scotia to study the potential for carbon storage in that province.

Canada is a founding partner in the Global Carbon Capture and Storage Institute announced this spring.  This Australian-led international partnership was established to raise global awareness of Carbon Capture and Storage and engage developing countries in the use of the technology.

In 2010, Canada will host the G-8 Leaders’ Summit, where leadership in advancing large-scale Carbon Capture and Storage deployment will be profiled on a global scale.