Environmental initiatives could be opportunities for consultants
March 9, 2005
By Canadian Consulting Engineer
The federal government gave out more details of how it intends to fund alternative energy sources and green infrast...
The federal government gave out more details of how it intends to fund alternative energy sources and green infrastructure development on February 28 in Burnaby, B.C. The details suggest areas where consulting engineers could find growing business opportunities.
Stphane Dion, Minister of the Environment; Ralph Goodale, Minister of Finance; David L. Emerson, Minister of Industry; and Stephen Owen, Minister of Western Economic Diversification Canada and Minister of State (Sport) highlighted the following Budget 2005 investments.
$5 billion in gas tax revenues shared with municipalities through the New Deal for Cities and Communities at least half of which will be invested in green infrastructure projects, with $635 million going to British Columbia;
$1 billion for the new Clean Fund, to further stimulate cost effective technology solutions to fight climate change and smog in Canada;
$920 million over the next 15 years, quadrupling the Wind Power Production Incentive;
An estimated $295 million in enhanced tax incentives through accelerated Capital Cost Allowance to encourage investment in efficient, renewable energy generation;
$250 million over five years for a partnership fund to support large-scale, strategic green infrastructure investments on priorities jointly agreed to by the Government of Canada and provinces and territories.
$200 million to support a new Sustainable Energy Science and Technology Strategy; and
$97 million over the next five years for a new Renewable Power Production Incentive.
Minister Emerson said: "Budget 2005 takes an important step in long-term collaboration between the Government of Canada and the Canadian environmental technology sector," said. "In all, Budget 2005 invests an additional $1.75 billion to support environmental technologies over the next five years to further develop Canada’s competitiveness in a global market poised for exponential growth."