British Columbia's CleanBC Plan: What You Need To Know

This article forms part of our Power Perspectives 2023 publication. Download the full publication here.

In 2022, the BC government made further investments in its CleanBC initiative, the climate action plan introduced in 2018 that aims to reduce the province's greenhouse gas ("GHG") emissions by 40% below 2007 levels by 2030.

In the 2022 provincial budget, the BC government pledged more than $1.2 billion in further funding for CleanBC, adding to its existing $2.3 billion commitment to CleanBC. Among other investments, the budget allocated $120 million in funding to continue the Climate Action Tax Credit, designed to offset the impact of the province's broad-based carbon taxes on lower- and middle-income households. CleanBC also includes an Industrial Incentive Program that reduces carbon tax costs for facilities that can demonstrate that they are among the lowest emitters in their sector compared to GHG benchmarks. On April 1, 2022, BC's carbon tax rate rose