This budget outlines investment commitments to advance Canada’s Climate Plan. It allocates:
· $94.4 million over five years to address climate change and to fund the reporting requirements of the Canadian Net-zero Emissions Accountability Act. This fund seeks to ensure the re-distribution of the proceeds from the price on pollution to communities and farmers in backstop jurisdictions, to fund the Agricultural Climate Solutions program, to integrate climate into federal decisions, to strengthen public climate-related disclosures through requiring large Crown corporations to report on their climate-related financial risks, and to ensure a common understanding of border carbon adjustments among trading partners.
· $4.4 billion to steer the transition to highly efficient and low-emitting homes and communities.
· $1.4 billion over 12 years to top up the Disaster Mitigation and Adaptation Fund to build more climate resilient infrastructure. This fund seeks to support projects such as wildfire mitigation activities, rehabilitation of storm water systems, and restoration of wetlands and shorelines.
