Advanced Biofuels Canada releases sector report that identifies investment potential of over $6 billion to transition to non-fossil, low carbon fuels by 2030.

VANCOUVER, BRITISH COLUMBIA, CANADA, November 19, 2019 /EINPresswire.com/ -- Clean liquid fuel production capacity in Canada could grow to 8.5 billion litres by 2030

Advanced Biofuels Canada released its ‘Roadmap to 2030’ sector report on clean fuel investment in Canada (available at www.advancedbiofuels.ca). The report was prepared by Advanced Biofuels Canada as part of a government – industry collaboration to review clean fuel investment conditions in Canada. Roadmap to 2030 covers advanced and conventional liquid biofuels, and other non-fossil, low carbon liquid fuels, that will see expanding demand under Canada’s Clean Fuel Standard and complementary federal and provincial climate action policies. The report’s findings include:

i. Canada’s clean liquid fuel sector targets growth in production capacity from 3 billion litres per year to 8.5 billion litres by 2030
ii. Private sector capital investments of over $6 billion will create 30,000 person-years of construction jobs and add 10,000 new full-time clean energy jobs
iii. Clean liquid fuels production and use will contribute $15 billion per year in new economic output, and strengthen the resiliency of Canada’s agricultural, forestry, waste management sectors
iv. Increasing biofuel and non-fossil, clean liquid fuel market share to 10-15% by 2030 will reduce incremental greenhouse gas emissions by at least 15 million tonnes per year by 2030

To achieve these outcomes, the report makes four core recommendations that Canada establish:

1. A national ‘Clean Fuel Strategy’ to set clear clean fuel goals and establish firm targets
2. A clean liquid fuel capacity fund of $2.5 billion and infrastructure fund of $250 million, within established programs, to mobilize capital investment over the 2020 to 2030 time horizon
3. Stable and fair tax policies to create a competitive investment climate for clean fuel production and use infrastructure
4. Long-term support for pre-commercial clean fuel technology and innovation

Ian Thomson, President of Advanced Biofuels Canada, stated, “While Canada has lagged behind the United States and other global competitors in the production and use of sustainable, low carbon biofuels over the past decade, this report demonstrates our collective opportunity to attract significant private sector investment, deliver on our Paris commitments, and support new jobs and economic resilience in our rural and resource communities. Canadians have demanded action on climate change, and this report demonstrates how clean fuels under the Clean Fuel Standard can contribute over 30 million tonnes of incremental greenhouse gas reductions by 2030.”

Advanced Biofuels Canada/ Biocarburants avancés Canada is the national voice for producers, distributors, and technology developers of advanced biofuels. Our members are global leaders in commercial production of advanced biofuels, with over 14 billion litres of installed annual capacity worldwide. Our members include Canada’s leading advanced biofuels producers and technology innovators and are actively developing new clean liquid fuels production and distribution assets and operations in Canada. For information on Advanced Biofuels Canada and our members, visit: www.advancedbiofuels.ca.

Ian Thomson
Advanced Biofuels Canada
+1 604-947-0040
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