{"id":20208,"date":"2025-09-25T14:35:10","date_gmt":"2025-09-25T14:35:10","guid":{"rendered":"https:\/\/www.rbc.com\/en\/?post_type=rbc_tl&p=20208\/climate-crunch-dawn-of-a-new-major-projects-era"},"modified":"2025-10-06T15:55:02","modified_gmt":"2025-10-06T15:55:02","slug":"building-blocks-of-a-carbon-competitive-canada","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/climate-action-institute\/climate-crunch\/building-blocks-of-a-carbon-competitive-canada\/","title":{"rendered":"Climate Crunch: Building Blocks of a Carbon Competitive Canada"},"content":{"rendered":"\n
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\u2794 New York Climate Week shrugs off U.S. climate retreat<\/p>\n\n\n\n

\u2794 Nova Scotia is going big on wind power<\/p>\n\n\n\n

\u2794 Our Unearthing Value<\/em> report explores natural capital\u2019s role in pro-growth agendas<\/p>\n<\/div>\n<\/section>\n\n\n\n

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Hot takes<\/h2>\n\n\n\n

\u2794 New York Climate Week powers on despite clouds over clean energy.<\/strong> The annual event, underway this week, is featuring more than 1,000 sessions across the city, from Arctic to sustainable fashion, adaptation to critical minerals. The event comes amid a major reversal by Washington on several clean energy policies. But the record number of programs and more than 100,000 attendees<\/a> suggest the push for a greener and cleaner energy transition may not have waned just yet.<\/p>\n\n\n\n

\u2794 Nova Scotia\u2019s Wind West proposal is gaining momentum. <\/strong>The province\u2019s proposed $60-billion, 5,000-megawatt development could position Atlantic Canada as a clean energy hub. Ottawa<\/a> also believes the proposal is a major projects contender, and is gauging investor interest that could spur renewable power expansion on the East Coast<\/a>. But, as the strategic plan<\/a> itself states, \u201cit won\u2019t be easy,\u201d with regulatory challenges and cost competitiveness issues to overcome. Nova Scotia is seeking federal support through investment tax credits and low-interest loans from the Canada Infrastructure Bank and support for the Mi\u2019kmaq Nation to purchase equity in the project. The slew of support measures could lower the project costs to $170 per megawatt hour, compared to the average energy rate of $51.86<\/a> per megawatt hour Nova Scotians paid last year.<\/p>\n\n\n\n

\u2794 Australia is pitching itself as a carbon storage hub.<\/strong> Take note, Canada. The nation Down Under is leveraging its geological advantages to become a carbon storage hub for Asia-Pacific. It\u2019s part of Australia\u2019s new Net Zero plan<\/a>, out last week, that pledges to cut carbon emissions by at least 62% compared to 2005 levels over the next decade. The focus on carbon removal and investment in the technology aims to offset the country\u2019s gas and mining emissions.<\/p>\n<\/div>\n<\/section>\n\n\n\n

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A climate policy reset<\/h2>\n\n\n\n

Mark Carney\u2019s forthcoming \u201cCarbon Competitiveness Strategy\u201d is an interesting combination of words. Unlike Trudeau-era climate policy labels that centred on carbon reduction\u2014such as \u201cEmissions Reduction Plan\u201d and \u201cOil & Gas Emissions Cap\u201d\u2014the current Prime Minister\u2019s word choice signals a marked shift on how carbon (its reduction, storage and low-emissions production) can advance Canada\u2019s economy.<\/p>\n\n\n\n

As Canada recalibrates its climate policies, here are five questions we are thinking about:<\/p>\n\n\n\n