Canada’s Gold Medal Opportunity in
Carbon Capture, Use & Storage
The global race to decarbonize heavy industry is accelerating.
This is Canada’s moment to lead.
The Opportunity Is Enormous
- The global carbon capture and storage (CCS) market is projected to grow from $8.9 billion in 2025 to over $50 billion by 2034, a 21% annual growth rate.
- Carbon dioxide removal in Canada has the potential to create 300,000 jobs and add $143 billion to GDP by 2050.
- RBC estimates the broader low-carbon transition could generate up to 400,000 new jobs by 2030.
Why Carbon Management Matters
Wind and solar are essential, but they can’t decarbonize everything. Heavy industries like cement, steel, pulp & paper, and energy need carbon capture, use, and storage (CCUS) to meet climate targets and remain globally competitive. The International Energy Agency and IPCC agree that there is no credible path to net zero without carbon capture and removal.
Canada Has the Advantage
- World-class innovation: Svante Technologies Inc. (Svante), based in Greater Vancouver, operates North America’s first commercial carbon capture filter plant, producing enough filters to capture 10 million tonnes of CO₂ annually, equal to removing 2.7 million cars from the road each year. Other leading innovators in the space include Deep Sky, True North Carbon, Carbon upcycling, and more.
- Abundant, safe geologic storage: It’s estimated that Canada has ~389 gigatonnes of geological CO₂ storage capacity.
- Skilled workforce: Expertise from the Canadian oil and gas sector translates directly to CCUS success.
Economic and Strategic Benefits
- Energy security: CCUS enables Canada to decarbonize oil and gas and other industries while maintaining global market share.
- Industrial competitiveness: A robust CCUS sector positions Canada as a supplier of choice for low-carbon commodities as well as carbon management technology and components for export.
- Nation-building projects: Investments in CCUS infrastructure create long-term high paying jobs and export opportunities.
Call-to-Action for Parliament
- Fully implement and expand the following mechanisms:
- CCUS Adoption Tax Credit
- Include CCUS component manufacturing in the Full Clean Manufacturing Investment Tax Credit to attract private capital.
- Implement a carbon boarder adjustment mechanism (CBAM) in the same or similar fashion as they’ve done in the EU.
- Integrate carbon dioxide removal (CDR) credits into compliance mechanisms and make direct purchases of CDR credits
- Expand carbon intensity industrial policies
- Fast-track permitting and regulatory approvals for carbon capture projects and CO₂ storage hubs.
- Support Canadian-made technology through procurement policies and export financing.
We have Canada’s blueprint for climate leadership and industrial competitiveness at our fingertips. By acting now, we can avoid missing out on the next clean tech revolution, and instead, become the global champion in carbon removal and CCUS.