The federal government has released its framework to phase out fossil fuel subsidies, saying it will make Canada the first G20 country to follow through on a 2009 pledge to phase out government support for the sector.
“By eliminating inefficient fossil fuel subsidies, we are encouraging smart and efficient government investment decisions that can increase Canada’s competitiveness in a decarbonizing global economy, while avoiding the creation of stranded assets,” Environment Minister Steven Guilbeault said in a July 24 news release.
