The Technology Innovation and Emissions Reduction (TIER) program just went into force on January 1, 2020. Through this system, the government of Alberta will invest $10 million in viable projects that are dedicated to Cleantech.
The TIER system was introduced last year with the aim to assist job creators invest in technology and research so as to lower their emissions. The Alberta Mahine Intelligence Institute is set to receive $5 million, the Sundre Petroleum Operators Groups will get $3 million, while the Petroleum Technology Alliance of Canada will get #2 million.
According to Minister of Environment and Parks, Jason Nixon, the programs will enable the industry to indentify, measure, track, and reduce emissions.
He also went on to say that they will give the country a competitive advantage while generating employment and economic growth. Furthermore, to remain competitive, the TIER structure allows manufacturing facilities to come up with new ways to minimize pollution and invest in renewable technology.
TIER protects big manufacturing emitters and small oil and gas operators opted in; however, regulated facilities can abide by the legislation by paying $30 per tonne of CO2 equivalent emitted.
This money is placed into a TIER enforcement fund, which would be used to finance emission-reduction programs.