Media Release

CSPA Applauds Expanded Climate Toolkit for Heavy Industry

Today, the President and CEO of the Canadian Steel Producers Association (CSPA), Catherine Cobden released the following statement in response to the 2023 Federal Budget:

“The Canadian Steel Producers Association is pleased to see this budget significantly expand the climate toolkit to support heavy industry’s competitiveness as Canada moves towards a net zero economy.

While members are still assessing the details, we are encouraged to see investment tax credits for carbon capture and storage, hydrogen, clean technology manufacturing, and clean electricity in the budget. We also applaud the government’s plan to immediately implement a Contracts For Differences policy and to further capitalize the successful Strategic Innovation Fund with an additional $500M.

We believe the federal government’s commitment to pursuing reciprocal procurement measures to be strategic and helpful. As evidenced during the recent visit by US President Biden, strengthening green supply chains with countries with whom we have trade agreements is a winning solution. We are pleased that the government has understood the urgency associated with unfairly traded steel in our market and is committed to the implementation of this new tool in the near-term.

CSPA and its members remain committed to continuing to work with the government and urgently reiterate that all efforts must be focused on finalizing specifics and putting these new tools to work for steel and other heavy industries as quickly as possible.”