Federal budget recognizes benefits of forest biomass: FPAC
March 29, 2023
By Forest Products Association of Canada
Forest Products Association of Canada president and CEO, Derek Nighbor, released the following statement on the Federal Budget 2023 tabled by Finance Minister Chrystia Freeland:
“FPAC was pleased to see Minister Freeland signal renewed support for Canada’s forest sector and its workers and communities. Today she clearly outlined the leadership role forestry and forest products can play in growing Canada’s green economy.
This started with Minister Freeland pledging $368.4 million over three years toward Indigenous leadership in the sector, forestry research and development, low-carbon building construction, and support to bring more sustainably sourced Canadian forest products to the world. Today, the Finance Minister sent a clear message to Canadian forestry workers – that they are among the best in the world at what they do and are essential players in the lower carbon economy of tomorrow.
Today’s budget also delivered on the promise of forest biomass from Canada’s sustainably managed forests. In the face of worsening and more catastrophic fire patterns, today’s budget recognized that we need to do more to build new markets for stranded wood fibre and wood waste, realize the climate benefits of our biomass here at home, and help maximize carbon sinks in our forests.
The budget rightly noted that forest biomass and biofuels provide a critical energy source and create much-needed economic growth for forestry businesses, workers, and families in northern and rural communities.
FPAC looks forward to working with the federal government to ensure its climate policies and regulations enable growth in the sector and that its suite of critical Investment Tax Credits will include Canadian forestry solutions. Under these conditions, we can get more people working, accelerate our move to a lower carbon economy, and attract more private sector investment to Canada.”
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