Budget 2021: Opportunities For Energy In Transition

The federal government's recently tabled 2021 budget ("Budget 2021") included significant funding for clean technology and climate change initiatives that support the energy transition. The government is seeking alternative applications of our existing resources as Canada drives towards its goal of net-zero emissions by 2050, creating unique incentives and opportunities for the energy sector right across the country.

These budgetary measures extend to all corners of our economy, with the government leaning in with support through funding and tax measures. The current government views Canada as being able to emerge as a leader in the development of clean technology, zero-emission vehicles, and the use of carbon capture, utilization, and storage ("CCUS") technology. Whether we can compete at that level, in the face of almost every other country looking to do the same, remains to be seen. However, for businesses in the favoured sectors, and those pivoting to enter, it