Quebec’s 2020-2021 budget plan was tabled on Wednesday by Minister of Finance Eric Girard and it includes “unprecedented” investments in the province’s public transit and environmental sector.
From now until March 2026, Quebec will commit $6.2 billion to fight climate change, the largest environmental project ever undertaken in the province’s history.
The Budget Plan aims to transform the province’s economy, “create wealth for all Quebecers,” and “substantially” reduce all greenhouse gas (GHG) emissions.
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The investments will make it possible to support key government programs to fight climate change, states the Cabinet du ministre des Finances’ news release, including encouraging Quebecers to buy electric vehicles and urge homeowners to replace fossil fuel heating systems with a renewable energy alternative.
Of the $6.7 billion, $473 million will be implemented to mitigate the impact of flooding throughout communities in Quebec.
With $500 million being directed toward environmental protection measures, such as the implementation of a sustainable agriculture plan and support for various efforts to improve recycling.
“Our second budget marks an important turning point for the future of Quebec,” stated Girard. “By announcing unprecedented investments to implement an ambitious environmental plan, we are banking on the development of a green economy that will enable us to create wealth and considerably reduce our greenhouse gas emissions.
“Starting today, we are taking decisive action to ensure that our children and grandchildren will live in a green and prosperous Quebec.”
In line with international commitments, Quebec has pledged to reduce its GHG emissions by 37.5% below their 1990 level by the year 2030.
“By committing up to $6.7 billion over six years, the government is also confirming its willingness to place the fight against climate change at the heart of its priorities,” says Aéro Montreal, a strategic group in Quebec’s aerospace sector. “In particular, $1.3 billion will be allocated to promote the decarbonization of businesses while ensuring their competitiveness.”
The group also says that the aerospace industry is eager to take part in the green shift and “reduce its environmental footprint” while transitioning to the new energy sector.