EDMONTON—An industry-funded organization dedicated to climate change and emission control issues is offering up $50-million in funding for projects that can help reduce emissions from fossil fuel production and processing.
The independent Climate Change and Emissions Management Corporation (CCEMC) is awarding the funding to eligible projects that reduce emissions during extraction, preparation, upgrading, refining and other processing of fossil fuels, including petro-chemical conversion.
“Alberta has a wealth of energy resources and we are striving to find innovative ways to reduce greenhouse gas emissions linked to fossil fuel production,” CCEMC chairman Eric Newell said in a statement.
“This is one more way that the CCEMC is supporting Canada’s efforts to become a leader in energy production and cleaner technology.”
According to the organization, successful applicant projects will show strong potential to make significant, verifiable and sustainable reductions in greenhouse gas emissions.
The CCEMC funds projects through grants, and seeks reduced greenhouse gas emissions as a result of its investment.
Supported technologies are expected to be commercialized and broadly deployed into the marketplace.
The maximum the CCEMC will contribute to an individual project for this call for proposals is $10-million, and up to one half of a project’s eligible expenses.
The CCEMC will not match other government funds.
Established in 2007, Alberta facilities that annually produce more than 100,000 tonnes of greenhouse gas emissions are legally required to reduce their greenhouse gas intensity.
Companies have four options to meet their reduction targets: improve the efficiency of their operations; buy carbon credits in the Alberta-based offset system; purchase emission performance credits; or pay $15 into the Climate Change and Emissions Management Fund for every tonne over a facility’s reduction limit.
Funding is then distributed to the CCEMC by the Alberta government.
Initial submissions are due by September 27.