Canada Announces Fund To Reinvest Proceeds From Output-Based Pricing System

Osler, Hoskin & Harcourt LLP

On February 14, 2022, Environment and Climate Change Canada (ECCC) launched the Output-Based Pricing System Proceeds Fund (Proceeds Fund) — a program that aims "to support industrial initiatives...

CanadaEnvironment

Jacob Sadikman

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On February 14, 2022, Environment and Climate Change Canada (ECCC) launched the Output-Based Pricing System Proceeds Fund (Proceeds Fund) - a program that aims "to support industrial initiatives that reduce greenhouse gas (GHG) emissions and deploy clean technology and green energy." The program will use the proceeds from the federal output-based pricing system (OBPS) - which totals $161.1 million for the 2019 compliance period - to support "low carbon technology" in provinces that are or were subject to the federal OBPS on a non-voluntary basis - namely, New Brunswick, Ontario, Manitoba and Saskatchewan. Provinces and territories that have voluntarily adopted the federal OBPS can elect for a direct return of the federal OBPS proceeds collected in their jurisdictions.

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Canada Announces Fund To Reinvest Proceeds From Output-Based Pricing System

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