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 Energy Research & Innovation Newfoundland & 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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