Government of Alberta Announces the Climate Innovation Fund
Posted Dec 15, 2017
Government of Alberta Minister Bilous, Minister Phillips and Minister McQuaig-Boyd announced the Climate Innovation Fund and in it the $144.4 million for programs under the Climate Change Innovation and Technology Framework, an overarching guide for the investment of funds for innovation and clean technology (“clean innovation”) from the pricing of carbon emissions.
The framework advances Alberta’s innovation agenda to reduce greenhouse gas emissions, while contributing to our economic growth and diversification. The new Innovation Fund has been created to foster the next generation of technology to help Alberta's energy industry to create more good jobs, attract investment, reduce emissions and expand and diversify access to tidewater and world energy markets.
The framework and the supporting programs were developed through Science and Innovation in collaboration with other EDT divisions, ministries, agencies, post-secondary institutions and the federal government.
Alberta will invest $1.4 billion over 7 years for innovation projects in 5 categories:
- Oil sands innovation fund
- Innovation across sectors
- Industrial energy efficiency
- Loan guarantees
More information on the Climate Innovation Fund can be found here.