BC Budget 2022: $1 billion in new funding for CleanBC and the Roadmap to 2030
Budget 2022 builds on $2.3 billion in funding for CleanBC to date and invests in the fight against climate change with more than $1 billion in new funding for CleanBC and the Roadmap to 2030, including:
- Investing in the Low Carbon Economy with $9 million over the fiscal plan to expand the Low Carbon Fuel Standard and to develop a new emissions cap on natural gas utilities – two of the most effective measures in reducing emissions and helping B.C. meet its legislated emissions reduction requirements.
- Supporting cleaner transportation over the fiscal plan, including:
- PST exemption for used Zero Emission Vehicles (ZEVs), effective now until 2027, and a higher threshold for luxury surtax on passenger ZEVs to a base of $75,000.
- Motor Fuel Tax exemption for the use of hydrogen in internal combustion engines, encouraging use and development of hydrogen fuel cell vehicles, effective immediately.
- $79 million to continue the Go Electric program to provide rebates for electric-vehicle charging systems, fund hydrogen refueling infrastructure and support commercial vehicle pilot projects.
- Making grants totalling $30 million available to local governments to improve active transportation infrastructure, like bike lanes and multi-use pathways.
- Developing a Clean Transportation Action Plan to reduce emissions in the transportation sector.
- Authorizing $249 million in Low Carbon Fuel Credits to continue light-duty zero-emission vehicle rebates.
- Investing $5 million over two years to continue the Heavy-Duty Vehicle Efficiency Program, which partners with industry to educate drivers and install fuel-efficiency measures in heavy-duty vehicles.
Budget 2022 also delivers $18 million to support the continued growth of the mining sector through the Regulatory Excellence in Mining strategy, after 2021 saw more than $600 million in mining exploration. This is a 50% increase over the previous year and the highest level in a decade, with growing demand around the world for the minerals that will play a key role in B.C.’s low‐carbon future.
