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British Columbia
The 2024 budget of British Columbia (BC) underscores a strong commitment to clean energy and climate action, including funding the existing frameworks and strategies – the CleanBC roadmap with a primary focus on decarbonization and innovation in oil and gas and clean electrification. While this plan addresses various aspects of clean energy, geothermal energy is not explicitly mentioned, representing an ongoing gap for policy development and industry parity in public-sector signalling. “Budget 2024 reaffirms the Province’s commitment with $318 million to continue to fund grant and rebate programs for clean transportation, energy-efficient buildings and communities, and support the transition to a low-carbon economy… “Earlier this year, the Province launched the first phase of a new made-in-B.C. Critical Minerals Strategy to build a clean economy by expanding the critical minerals sector in alignment with the B.C. Declaration on the Rights of Indigenous Peoples Act. Budget 2024 helps lay the foundation for this work with $24 million to support collaboration with First Nations, industry, local governments and the public and ensure adequate resources for mine permitting.” (Budget Backgrounder 4) We are encouraged in efforts to diversify in clean energy, and are confident that advancements in pending geothermal projects in BC and Alberta will be the catalyst to prove to BC that geothermal is abundant, readily accessible, and commercially viable. The budget also announced tools and planning underway for loan guarantee programs for First Nations to partner with industry. Comments are closed.
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Archives
November 2024
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