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ARTICLE · 16 MARCH 2022

Canada Launches New Fund From Carbon Pollution Pricing

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On February 14, 2022, the federal government announced the launch of the Output-Based Pricing System Proceeds Fund (the OBPS Proceeds Fund), ...

CanadaEnergy and Natural Resources
Claire Lingley
Claire Lingley
Sarah Gilbert
Sarah Gilbert
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On February 14, 2022, the federal government announced the launch of the Output-Based Pricing System Proceeds Fund (the OBPS Proceeds Fund), which will aggregate the proceeds received by virtue of the federal Output-Based Pricing System (the OBPS). The OBPS Proceeds Fund aims to support industrial initiatives that reduce greenhouse gas (GHG) emissions and deploy clean technology and green energy by re-investing the proceeds of the federal OBPS back into the jurisdictions from which they originate, into projects that reduce carbon pollution. 

Background of the OBPS

The OBPS constitutes one of two elements of the federal regulatory carbon pricing system established under Canada's Greenhouse Gas Pollution Pricing Act (the GGPPA), the other being the federal fuel charge. The GGPPA acts as a federal backstop whereby the OBPS, the federal fuel charge, or both, will apply to jurisdictions that have failed to implement a carbon pricing scheme at least as stringent as

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