OTTAWA, July 5, 2021 - The Canadian Steel Producers Association (CSPA) welcomes the Government of Canada’s financial support for the greening of Algoma Steel’s operation in Sault Ste. Marie, Ontario.
The federal investment of up to $420M is aimed at eliminating 3 million tonnes of greenhouse gases, equivalent to approximately 11% of Canada’s 2030 Paris industrial target. This commitment is the first major investment to emerge from the new federal Net Zero Accelerator program.
“Today’s announcement is a significant step forward in achieving Canada’s greenhouse gas emissions target while ensuring a strong and sustainable steel operation in Sault Ste. Marie” said Catherine Cobden, President and CEO of the CSPA. “It is also an important illustration of the partnership envisioned through the CSPA’s Climate Call to Action and is an indication that the government is a supportive partner in the Canadian steel industry’s climate plan.”
In 2020, the CSPA membership outlined their plan to reach an aspirational goal of net zero greenhouse gas emissions by 2050. The CSPA Call to Action identifies the need for a comprehensive approach to reducing emissions from the steel industry including policy, regulatory and program support. One of the conditions for success is financial support for the industry’s green transformation over the long-term for research, development and deployment of emission reduction technologies.
“Canada’s steel industry has a strong environmental track record for producing some of the greenest steel in the world and to reach net zero by 2050, we can not get there alone,” said Cobden. “We look forward to continuing to work with all levels of government in the years ahead as we tackle this global challenge.”
The Canadian Steel Producers Association is the national voice of Canada's primary steel and the pipe and tube industry, dedicated to ensuring a competitive and sustainable business environment for its members and supply chain stakeholders. Canadian steel producers are integral to Canada's economy and a vital supplier to many segments of North American industry, including the automotive, energy, construction, and transportation sectors.
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