New offshore emissions reduction fund helps economy and environment
Advancing Canada’s offshore oil and gas sector
The $75 million offshore investment as part of the Emissions Reduction Fund (ERF) will help Canada meet its environmental commitments, rebuild the economy, and create a lower carbon economy, especially towards reducing greenhouse gas emissions (GHGs).
The offshore portion of the ERF has two components:
- The Offshore Deployment Program is a $42 million investment supporting capital projects designed to either reduce offshore GHGs or improve the environmental performance of offshore oil spill monitoring, detection and response activities.
- The Offshore RD&D Program is a $33 million investment supporting research, development and demonstration projects that advance solutions to decarbonize Newfoundland and Labrador’s offshore industry. It is being delivered in collaboration with Petroleum Research Newfoundland and Labrador.
Both portions will support the offshore oil and gas sector to invest in green solutions to reduce GHGs and retain jobs in the sector.
Related links
- Atlantic Occupational Health and Safety Initiative
- Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) Spill Prevention and Response
- Frontier and Offshore Regulatory Renewal Initiative
- Newfoundland and Labrador Management of Greenhouse Gas Reporting Regulations
- Offshore Oil and Gas
- Oil Spill Responses Science
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