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Experts say Trudeau's carbon pricing scheme, known as the carbon tax, works well and cannot be easily replaced. Even the left-leaning New Democrats, who support Trudeau's government in parliament and have previously defended the carbon tax, are calling for the exemption. Analysts said the carbon tax carve-out is another example of inconsistent policy. CARBON TAX REBATEThe carbon tax is intended to discourage use of fossil fuels and accelerate a switch to clean energy, but the recent carve-out underlines how fragile climate policy is in the face of pressing political calculations. In September, Bank of Canada governor Tiff Macklem said the carbon tax contributes about 0.15 percentage points to the inflation rate, which was 3.8% that month.

Persons: Justin Trudeau, Jessica Lee, Richard Brooks, Brooke, Brooks, Chris Severson, Baker, Pierre Poilievre, clobber Trudeau, Shachi Kurl, Angus Reid, Kurl, Jonathan Wilkinson, Wilkinson, Macklem, Trudeau, Robert Asselin, Asselin, Nia Williams, Steve Scherer, Josie Kao Organizations: Canada's, Ontario Chamber, Economic Summit, REUTERS, Rights Ottawa, Canadian, Provincial, New Democrats, Pembina Institute, Liberal, Conservative, Angus Reid Institute, Atlantic, Natural Resources, Reuters, Bank of Canada, Business Council of Canada, The Business Council, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ Canada, Japan agree to work more closely on battery supply chains
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Sept 21 (Reuters) - Canada and Japan on Thursday agreed to work more closely together to establishing sustainable and reliable global battery supply chains, the Canadian government said in a statement. The two sides signed a memorandum of cooperation on the supply chains during a visit by Japanese Industry Minister Yasutoshi Nishimura, it said, but gave no details. Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo firms involved in all levels of the electric vehicle (EV) supply chain via a multibillion-dollar green technology. "As worldwide demand shifts increasingly towards cleaner forms of energy, Canada's critical minerals resources and battery supply chains will play a vital role in how we get there," said Natural Resources Minister Jonathan Wilkinson. Reporting by David Ljunggren; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yasutoshi Nishimura, Jonathan Wilkinson, David Ljunggren, Chizu Organizations: Japanese Industry, Natural, EV, Thomson Locations: OTTAWA, Canada, Japan, Quebec

OTTAWA, July 24 - Canada's Liberal Prime Minister Justin Trudeau is planning to reshuffle his cabinet this week, likely replacing ministers deemed to have struggled in their posts or who are not planning on running again in the next election, two government sources said. It is common for cabinet members to clear their schedules and be called to Ottawa ahead of a reshuffle. Speaking to reporters in Toronto, the 72-year-old minister did not say whether she would stay in government in the meantime, adding only that she would do "whatever the prime minister wants me to do". The most influential ministers including Deputy Prime Minister and Finance Minister Chrystia Freeland, Foreign Minister Melanie Joly, Innovation Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson are expected to keep their jobs. Trudeau won a parliamentary majority in 2015 but was reduced to leading a minority government after elections in 2019 and 2021.

Persons: Justin Trudeau, Trudeau, Carolyn Bennett, Marco Mendicino, Chrystia Freeland, Melanie Joly, Francois, Philippe Champagne, Jonathan Wilkinson, Steve Scherer, David Ljunggren, Deepa Babington, David Holmes Organizations: OTTAWA, Canada's Liberal, Canadian Broadcasting Corp, Mental, Liberal, Monday, Public Safety, Finance, Innovation, Natural Resources, New Democrats, Conservatives, Liberals, Thomson Locations: Ottawa, Toronto

Prior to Russia's invasion of Ukraine in February last year, Ukraine ran its nuclear reactors on Russian fuel, producing 55% of the country's electricity. Cameco, like Energoatom, can adjust how much uranium it delivers on two years' notice, Kotin said. Contracted uranium prices are typically higher than spot prices, meaning that Cameco may take a discount if Ukraine purchases less uranium due to the war's impact, Carter said. Kotin said Energoatom will buy Cameco's uranium at a price based equally on a fixed price and a market price. BIG POTENTIAL REWARDSWhile Ukraine will rely on Cameco for uranium, it has struck separate deals for further processing.

SAPPORO, Japan, April 16 (Reuters) - The Group of Seven rich nations on Sunday set big new targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward a quicker phase-out of fossil fuels. G7 ministers finish two days of meetings on climate, energy and environmental policy in the northern Japanese city of Sapporo on Sunday. Renewable fuel sources and energy security have taken on a new urgency following Russia's invasion of Ukraine. In their communique, the members pledged to collectively increase offshore wind capacity by 150 gigawatts by 2030 and solar capacity to more than 1 terawatt. "Hopefully this will provide a challenge to Japan, for which offshore wind is the missing part of the jigsaw that could see its power sector decarbonise much quicker than it thought possible."

☆ Rough week for Alberta's ruling UCP casts shadow ahead of May election
▼ + stars: | 2023-04-02 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Polls show Alberta's election, scheduled to take place no later than May 29, will be a tight two-way race between the UCP and left-leaning New Democratic Party, led by Rachel Notley. "I think it will make a difference (to voters), it's going to keep coming up," Bratt said of the recording. "It's going to be reluctant conservatives in Calgary who are concerned about the judgment and trustworthiness of Premier Smith and this adds to questions about that." Smith became UCP leader and premier last October, replacing Jason Kenney, by appealing to grassroots UCP members in the traditionally conservative province. read moreLast week's controversies come just days after two senior Alberta government minister, Finance Minister Travis Toews and Environment Minister Sonya Savage, said they would not seek re-election.

OTTAWA, March 30 (Reuters) - Canada's province of Alberta - the heart of the country's oil and gas industry - is expected to offer more support for carbon capture utilization and storage (CCUS) projects now that the federal government has its incentives in place, the federal natural resources minister told Reuters on Thursday. This week, Canada's federal budget expanded eligibility for CCUS investment tax credits over the next five years, by adding C$520 million to the C$2.6 billion program laid out in last year's budget. Natural Resources Minister Jonathan Wilkinson said he has had many conversations with the Alberta government on CCUS, including one earlier this week, and he hopes to see some of the major CCUS projects launched by end-year. In an interview with Reuters in January, Trudeau urged Alberta to contribute to CCUS. ($1 = 1.3526 Canadian dollars)Reporting by Steve Scherer and Nia Williams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's B.C. province sets high emissions bar for new LNG projects
▼ + stars: | 2023-03-17 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] The entrance to Shell's LNG Canada project site is shown in Kitimat in northwestern British Columbia on April 12, 2014. While the tougher regulation will not impact the huge Shell-led (SHEL.L) LNG Canada project already under construction, a proposed export terminal adjoining the small-scale Tilbury LNG facility and the early-stage Ksi Lisims LNG project in northern B.C will fall under the new rule. The province will start exporting 14 million tonnes per annum (MTPA) when LNG Canada enters service in 2025. "That (net-zero requirement) is a very high bar and a high hurdle to pass," said Mark Zacharias, executive director of think-tank Clean Energy Canada, adding the new framework rounds out B.C. 's new regulations also include an oil and gas emissions cap and plans to accelerate the electrification of the economy.

☆ Exclusive: Canada will not retrospectively target Chinese investments in Canadian mining companies, minister says
▼ + stars: | 2023-03-08 | by ( Divya Rajagopal | ) www.reuters.com time to read: +2 min

[1/3] Canada's Minister of Natural Resources Jonathan Wilkinson speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 7, 2022. REUTERS/Patrick DoyleTORONTO, March 8 (Reuters) - Canada will not force Chinese state-investors in three of its large mining companies to divest stakes, as such a move would create policy uncertainty, natural resources minister told Reuters. In November, Canada had asked three Chinese companies to sell their stakes in Toronto-listed lithium explorers following a national security review, drawing criticism from the mining industry and raising questions about the future of other Chinese investments in Canadian mining sector. Three of Canada's largest mining companies - Teck Resources (TECKb.TO), Ivanhoe Mines Limited (IVN.TO) and First Quantum Minerals Limited (FM.TO), - count Chinese state-owned enterprises as their biggest single shareholder. This is the first time Canadian government officials have clarified what the future holds for other Chinese investments in the three Canadian mining companies.

☆ Canada unveils sustainable jobs plan to prepare workers for future green economy
▼ + stars: | 2023-02-17 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

From 2025 the government plans to release a new sustainable jobs plan every five years. Liberal Prime Minister Justin Trudeau has been promising sustainable jobs legislation since 2019. But in Canada, the world's fourth-largest crude oil producer, the concept of retraining workers for clean energy jobs, also called a "Just Transition", became a lightening rod for criticism. "Rather than a shortage of jobs, in Canada we are much more likely to see an abundance of sustainable jobs with a shortage of workers required to fill them," the plan said. Think-tanks Clean Energy Canada expects jobs in the sector will grow by 3.4% annually over the next decade, nearly four times faster than the Canadian average.

☆ Exclusive: Canada's critical-mineral strategy aims to accelerate permitting
▼ + stars: | 2022-12-09 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

Critical minerals are key elements in EV batteries, electronics and solar panels and play a crucial role in the transition to the green economy. China now dominates the market for critical minerals used in EV batteries. Ottawa will seek "regulatory harmonization" with the United States on critical minerals, the document reads without elaborating, as part of the strategy. Canada has signed similar critical minerals cooperation agreements with Japan and the European Union. On Thursday, Canada said it would beef up rules around foreign investment, in the critical minerals sector and others.

OTTAWA, Nov 3 (Reuters) - Canada's government will outline its new fiscal forecasts and update its spending plans on Thursday against the backdrop of a stalling economy brought on by a steep rise in interest rates. The financial market turmoil caused by Britain's now-abandoned tax-cut plan, still-high inflation and rising interest rates are reasons for Canada to be very cautious about adding stimulus, analysts said last month. The Liberal government's updated fiscal plans come as the economy is sinking into three quarters of near-zero growth, according to Bank of Canada forecasts, and as the central bank continues its historic tightening campaign. Inflation in Canada has slowed to 6.9% in September from a peak of 8.1% earlier in the year, but core measures remain sticky. "Policy risk is particularly elevated with still-high inflation and an uncertain interest rate path that has markets on edge," said Rebekah Young, an economist at Scotiabank.

☆ Canada's fiscal update won't make central bank's job harder -sources
▼ + stars: | 2022-10-27 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

OTTAWA, Oct 27 (Reuters) - Canada's Liberal-led government will keep its powder dry when it unveils a fiscal update next month, and though it could contain additional targeted spending, it will not make the central bank's job harder, two senior government sources told Reuters this week. "The FES will not make the Bank of Canada's job of fighting inflation harder," said one source. "It behooves the federal government to continue to demonstrate some responsible fiscal stewardship right now," said a first source familiar with the draft document. Neither source would elaborate on where any "targeted" spending might go. The government's limited spending plans will be a relief to investors, as it would further aid the Bank of Canada's efforts to fight inflation.

Some, like fossil fuel-burning Saskatchewan and Alberta, say the federal government's plan for a 2035 net-zero grid is unrealistic. The challenges Canada faces underline how difficult meeting net-zero electrification goals will be globally. Reuters GraphicsUnlike Canada, the United States has a federal electricity regulator and mostly delivers power through regionally integrated systems, which may make it more nimble to transform the grid. Provinces regulate Canada's electricity utilities, but the federal government has some jurisdiction over the environment. The Alberta Electric System Operator in June estimated it would cost an additional C$44 billion to C$52 billion ($38.18 billion) to meet Ottawa's 2035 net-zero mandate.

☆ Canada backs nuclear power project with C$970 mln financing
▼ + stars: | 2022-10-25 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The nuclear power project, which is being developed by utility Ontario Power Generation (OPG) in Darlington, will be the first commercial grid-scale SMR in the Group of Seven wealthy nations (G7), according to the minister's spokesperson. read more"We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada's and the world's climate goals," Wilkinson will say. "Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand." About 15% of Canada's electricity comes from nuclear power, according to the World Nuclear Association. The reactors are designed by GE-Hitachi Nuclear Energy, an alliance between General Electric Co (GE.N) and Japan's Hitachi Ltd , and could power about 300,000 homes after completion, OPG says.

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