Advanced Biofuels in Canada Have Untapped Potential New Study Shows
New Jobs, Growth and Net Zero Emissions
This report captures the untapped opportunity of new biofuel production in Canada to create clean energy jobs, but also its critical role in helping Canada meet its net-zero climate objectives.”
VANCOUVER, BRITISH COLUMBIA, CANADA, January 28, 2021 /EINPresswire.com/ -- A new third-party study by the Labovitz School of Business and Economics at the University of Minnesota at Duluth concludes that the biofuels industry in Canada could double in size by 2030 and produce over 20,000 new jobs and $10 billion in additional output. The study underscores the potential of advanced biofuels and the new federal Clean Fuel Standard to reduce harmful greenhouse gas emissions.— Ian Thomson, President, Advanced Biofuels
“This report captures the untapped opportunity of new biofuel production in Canada,” said Ian Thomson, President of Advanced Biofuels Canada. “It shows that every new biofuel facility creates clean energy jobs and new sustainable growth in rural agricultural and forestry communities. Advanced biofuels not only help the economy, but they are also critical for Canada to meet its net-zero climate objectives."
The Labovitz School of Business and Economics study, commissioned by Advanced Biofuels, assesses the impact of increasing biofuel production in Canada from its baseline level of 2,500 million litres per year in 2020 to between low and high estimates of 4,645 and 6,111 million litres per year in 2030.
The new study further confirms that the 28 biofuel production facilities in Canada currently generate $2 billion in revenue and directly employ more than 1,500 workers. In addition to directly employed workers, the facilities support another 11,441 indirect jobs. Biofuels support almost $784 million in labour income, nearly $1.7 billion in value-added spending, and nearly $5.3 billion in total output.
New investments in advanced biofuels in Canada could create more than 20,000 additional jobs, $1.3 billion in new wages and benefits, $2.7 billion in value-added spending, and almost $10 billion in new output by 2030. Advanced biofuel production at those levels could lead to between 10MT and 13Mt of greenhouse gas emissions reductions.
The federal Clean Fuel Standard, currently under development, is designed to accelerate the use of clean technologies and fuels and create good jobs in a diversified economy.
“There is some equally welcome news in the report for Western Canada,” added Thomson. “The study identified the agricultural sector as the greatest beneficiary of increased biofuels production in the coming decade.”
The latest review of a decade of renewable fuel use in Canada has shown that biofuels are a cost-effective means of reducing carbon emissions for industry and consumers.
Both a synopsis and the full Bureau of Business and Economic Research study entitled Economic Impact of Current and 10-Year Projections of Biofuels Production in Canada are available on the Advanced Biofuels website.
Ian Thomson
Advanced Biofuels Canada
ithomson@advancedbiofuels.ca
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