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Canadian cars
Economy

By 2035, all Canadian cars must have zero emissions

02.04.2022
2 min read

How an environmental strategy has affected Canadian cars

Canada, like other developed countries, is intensively introducing programs that will help reduce harmful emissions. Innovations in this area have affected the market for vehicles, both commercial and personal use. The government has required all Canadian cars and light-duty trucks to be carbon neutral by 2035.
As authorities have noted, only bold initiatives that accelerate the transition to greater environmental stewardship can lead to an effective climate outcome. One of the biggest carbon emitters is vehicles powered by internal combustion engines. They account for more than 25% of total pollution. Therefore, a number of measures of the climate strategy should be directed to this area. In addition, the new requirement will increase the production of environmentally friendly cars, which in turn will create new jobs for the local population. To support the market, the government has invested $8 billion, these funds will be used to accelerate the transition to the new realities. Money will be allocated through a special fund – Net Zero Accelerator.Canadian cars will be carbon neutralFor its part, the authorities promise to provide serious support to make the transition to zero-emission cars as quick and easy as possible. To this end, the Canadian government will help cover the personal costs of such cars, improve infrastructure and cooperate with transport manufacturers. Such measures are expected to increase the number of jobs for the electric car industry by 26 times by 2030.
The first steps in this direction have already been taken – 800 thousand dollars have been invested. They will be used to create infrastructure, primarily the development of networks for rapid charging of electric cars, as well as the construction of hydrogen stations. In addition, the authorities have reduced the profit tax for manufacturers of zero-emission cars or parts for them by 50%.
It should be noted that Canada has been struggling with climate change issues for years. Environmental issues play a big role for the country and its people, and the government is trying its best to reduce the burden on the environment and improve living conditions. Canada was one of the first countries to adopt the 1986 Vienna Convention, which protects the ozone layer. Since the signing of the Paris Agreement, the country has adhered to all of its commitments. The new requirements for cars are another step towards realizing the goals that will significantly reduce emissions into the environment.

Tags: Global Economy
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Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

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