Fredericton, November 22, 2023 – Forest NB Executive Director, Kim Allen, released the following statement:
“Forest NB commends the Government of Canada for its forward-thinking approach with the decision to include forest biomass as an eligible source of clean energy under the Clean Technology and Clean Electricity Investment Tax Credits (ITCs). This policy change, announced in the Fall Economic Statement designates forest biomass, including wood waste, wood chips, sawdust, bark, and pulp by-products as viable sources of clean energy for achieving Canada’s Net Zero goal by 2050.
Forest biomass has the potential to play a major role in reducing carbon emissions across the country. Forest NB Executive Director Kim Allen stated, “This decision represents a substantial advancement for the growth of New Brunswick’s bioeconomy as it aligns with other initiatives like Port of Belledune’s Green Energy Hub. It also positions the New Brunswick sector for competitive success considering similar initiatives in the United States and Europe.
Incentive for increased utilization of low-grade wood resulting from escalating storm and fire damage that we’re seeing in the Maritimes and across Canada will benefit our communities with renewable heat and energy and improved risk mitigation, in addition to economic benefits of a growing bioeconomy.
And the forest sector’s contribution extends beyond clean energy – it also provides sustainably-sourced, renewable materials that are essential for addressing the housing crisis. New Brunswick continues to play a crucial role in supplying materials for affordable and eco-friendly housing solutions.”
Forest NB?is a non-profit association providing a voice for our members who manufacture a diverse range of wood, pulp, and paper products from renewable forest resources. New Brunswick’s forest sector is a key contributor to provincial economic well-being and provides over 26,000 direct and indirect jobs in the province. Our members are committed to ensuring healthy productive forests for multiple values and achieving a low carbon economy.
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