The Net Zero Accelerator (NZA) initiative supports Canada's net zero goals to help transform the economy for clean and long term growth.
This initiative will provide up to $8 billion to support large-scale investments in key industrial sectors across the country to ensure that Canada remains competitive in a net-zero economy and reduces greenhouse gas (GHG) emissions.
This is part of our efforts to invite forward-looking Canadian companies to contribute to Canada’s efforts to global leadership by meeting our ambitious GHG reduction target of 40-45% by 2030 and our net-zero by 2050 goal.
The NZA investment pillars have been chosen to maximize the impact of program investments:
Focusing on near-term emissions reduction
Helping established industries transition to the net zero economy
Capitalizing on net zero opportunities by fostering emerging sectors
Our investment decisions under each pillar are guided by these core investment principles:
- Build a balanced portfolio — Make sensible investments across all of the pillars to advance both 2030 and 2050 climate goals.
- Maximize leverage — Bring together funding partners from a range of public and private sectors and highlight projects with a higher share of private investment.
- Work with provinces and territories — Support investments that are aligned with provincial and territorial decarbonization priorities and consider regional environmental, industrial and economic needs.
Other investment decision considerations include a project's ability to:
- Deliver on intended outcomes
- Create and maintain high-skill, long-term employment in Canada
- Develop supply chains and intellectual property opportunities
- Promote Canadian global competitiveness
1. Decarbonization of large emitters
Focusing on near-term emissions reductions— Under this pillar, investments aim to help Canada's largest industrial emitting sectors such as oil and gas and heavy industry (steel, aluminium, cement, mining and mineral processing and chemicals) dramatically reduce their current domestic GHG footprint faster and with less financial risk. This pillar primarily supports Canada's 2030 climate goals, while aligning with 2050 objectives. With the right investments, this pillar could preserve thousands of jobs across Canada for decades to come.
Investment principles for large emitters decarbonization
- Support Canada's 2030 emissions reduction target, while remaining in line with the net zero by 2050 goal
- Prioritize developed technologies that can be used by 2030
- Prioritize projects that that will have additional or quicker benefits than would have been achieved without NZA investment
- Provide meaningful reductions in domestic GHG emissions, with strong a preference given to those with quantifiable and direct GHG reductions
2. Industrial transformation
Helping established industries' transition to the net-zero economy — Under this pillar, investments aim to ensure that established industrial sectors remain successful and competitive in the net zero global economy of the future. With a net zero objective less than three decades away and rapidly increasing global competition in developing clean growth sectors, Canada's industrial base in key sectors such as automotive transportation, aerospace and electricity (or electrification) needs to shift quickly towards net zero models.
Investment principles for industrial transformation
- Help to move sectors away from GHG-intensive activities
- Help sectors research, develop and adopt new processes and products with low carbon intensity, for Canadian and international markets.
- Prioritize proposals that are part of a group of coordinated projects and will have sector-wide impacts
- Show significant potential to generate medium to long-term GHG impacts
3. Clean technology and battery ecosystem development
Capitalizing on net-zero opportunities by fostering emerging sectors — Under this pillar, investments aim to capitalize on emerging clean economy opportunities and establish Canada as a global clean tech leader and promote the development of clean technologies such as hydrogen, Carbon Capture, Utilization and Storage (CCUS) and a made-in-Canada battery ecosystem.
Investment principles for clean technology and battery ecosystem development
- Support disruptive technologies that significantly and positively change how a sector works, from a GHG emissions perspective
- Prioritize investment in emerging clean technologies shown to have market potential
- Support creation of a domestic battery ecosystem and supply chain in Canada
- Show significant potential to achieve medium to long-term GHG impacts
Industrial decarbonization of high emitting sectors
The Strategic Innovation Fund (SIF) recently held a call to action to solicit project applications from high emitting sectors that are approaching a final investment decision and that will reduce existing GHG emissions in Canada within the next decade. Results are expected to be announced in 2023.
Interested in applying?
The NZA is a part of the Strategic Innovation Fund, and accepts applications on an on-going, non-competitive basis. If you are considering in applying, we will be happy to have an initial conversation. Please request a consultation by sending us an email at firstname.lastname@example.org.
To apply, you need to submit a Statement of Interest using one of the below toolkits:
- If you are a company incorporated in Canada, use the Business Innovation and Growth application toolkit
- If you are applying on behalf of a network or consortium, use the Collaborations and Networks application toolkit
Be prepared to describe your planned or potential reductions in GHG emissions along with your innovation and technological enhancements.
Note: If your proposal advances to the full application stage, we will be doing a due diligence review. During this review, we will validate your GHG reduction estimates, before you receive the results of your funding request.