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The Low Carbon Economy Ltd

22 Jul 2009 11:07:01

British Columbia praised for commercial energy efficiency incentives



British Columbia praised for commercial energy efficiency incentives
Canadian businesses are offered more financial incentives to adopt low-carbon strategies in British Columbia (BC) than in any other province of Canada.

That is according to a new report from global consultancy PricewaterhouseCoopers (PwC), which indicated that there are 38 clearly-defined schemes on offer to commercial enterprises, ranging from tax breaks on research to free energy audits.

The Vancouver Sun reported that the low-carbon stimulus measures provide businesses in BC with a chance to make significant savings by improving their energy efficiency and making use of renewable sources of power.

Ian Heine, a partner at PwC's CleanTech division, told the publication that businesses are becoming more interested in green incentives - this is particularly so as more stringent carbon emissions targets are placed on them.

He was quoted as saying: "We're seeing it become more of a social, environmental responsibility [that is] emerging in business. It's becoming more of a priority."

Mr Heine added that the most significant incentives are tax credits for research and development, which allow companies investing in the development of green technologies to save up to 40 percent of their expenses.

In a separate report published by PwC earlier this month, the analyst claimed that most businesses now recognise the importance of sustainable operations that strike the right balance between profit and environmental impact.

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