The Canadian government has just announced a $25 million investment to help the country’s agricultural sector reduce greenhouse gas emissions through the development and adoption of clean tech.
Lawrence MacAulay, Minister of Agriculture and Agri-Food says this investment will help Canadian farmers stay on the cutting edge of clean technology by targeting developments in bioproducts and precision agriculture.
“Our government has made both agriculture and clean technology a priority for growth in our economy. This new program will contribute to Canada’s place as a world leader in agricultural clean technology, helping farmers to develop new and efficient uses of energy, while also protecting our environmental resources and mitigating climate change.”
The Agricultural Clean Technology (ACT) Program is part of the Government of Canada’s suite of clean technology programs and initiatives announced in Budget 2017.
Millards Chartered Professional Accountants has a close connection to agribusiness.
Simon Salole, CPA, CA, LPA & Partner at Millards says that interested agribusiness clients will need to partner with the provincial government to be eligible for funding.
“Provinces and territories are eligible to apply for federal funding through this program, and are encouraged to work with industry on projects that focus on precision agriculture and/or bioproducts.”
Salole sees an opportunity for agribusinesses projects and positive benefits for Canada and the world.
“We know that Canadian farmers are important drivers of the Canadian economy. The Government’s position is that farmers can make important contributions in the fight against climate change by adopting sustainable technologies and practices.”
Clean technology permits farmers to undertake efficient uses of energy and the production of renewable energy, while contributing to the protection of the soil, water and air.
The Minister of Agriculture and Agri-Food made the announcement during his recent visit to an innovative agri-tech farm in St-Eugene, ON. Member of Parliament, Francis Drouin, calls the funding a step forward for agribusiness in Canada.
“Today’s announcement provides stable funding to help the agricultural sector move towards more sustainable practices. These funds will help farmers across the country to adopt means of production that are both environmentally friendly and more efficient.”
Bioproducts are renewable products from agricultural waste and outputs. Precision agriculture is a farming practice that uses data gathering technologies to guide targeted farm management actions that improve the sustainability, efficiency and productivity of agricultural operations.
This program will also complement AAFC’s $27 million Agricultural Greenhouse Gases Program, which supports research into greenhouse gas mitigation practices and technologies that can be adopted on the farm.
The Government of Canada says their commitment is to support the research, development, demonstration and adoption of clean technologies, because they create good jobs for Canadians and help meet Canada’s climate change goals.
The ACT Program runs from April 1, 2018 to March 31, 2021.
Simon Salole graduated with a Bachelor of Business Administration degree from Wilfrid Laurier University in 1993. Simon joined Millards in 2001 and was named a partner in 2009. Simons practice areas include personal and corporate tax planning and accounting and auditing. He has a special interest in agribusiness.