The taxonomy will include both low-emitting “green” activities and “transition” activities that enable decarbonization — definitions that banks, insurers, pension plans and asset managers have asked for, the Finance Department said in a backgrounder.
“The government does not anticipate new natural gas production to be eligible” for either category, the backgrounder stated. Activities that “significantly reduce the emissions of existing natural gas production and/or the emissions associated with a limited buildout of existing production sites” may qualify.
Nuclear activities were not mentioned in the backgrounder.
“In the 21st century, a competitive economy is a net-zero economy,” Freeland said in a release. “We are seizing Canada’s economic advantages to attract investment and ensure Canadian workers benefit their fair share in the global race to net zero.”
The Canadian taxonomy will be developed and…
