OTTAWA, July 19, 2018 /CNW/ - Canadian Manufacturers & Exporters (CME) is concerned with the potential economic consequences of the Clean Fuel Standard (CFS) on Canadian businesses and communities and, calls on the federal government to proceed with a fully-costed economic review of its CFS plan.
"The C.D. Howe report, released today, raises alarming concerns regarding the impact of CFS on Canadian businesses. It reaffirms CME's earlier findings that CFS could have far reaching consequences on manufacturers, specifically those in trade-exposed sectors," said Dennis Darby, President & CEO of CME, commenting on the report titled Speed Bump Ahead: Ottawa Should Drive Slowly on Clean Fuel Standard. "Manufacturers are calling on the government to work closely with industry to conduct a full review and economic analysis of the potential impact of the CFS before moving further forward."
Darby continued, "CFS will impact industry well beyond transportation fuels to include stationary, home and industrial use fuels, and these impacts are not well understood because of the lack of publicly available analysis completed to date. That is why CME is pleased to see the much-needed independent research undertaken by the C.D. Howe Institute whose mission is to raise living standards by fostering economically sound public policies."
"Canadian manufacturers are leaders in reducing emissions at home and are setting world class benchmarks for environmental performance. The best, and proven, solution for reducing emissions remains investment in new technology, not forcing costly and uncertain regulatory measures on industry," added Darby. "CME supports government efforts to reduce GHG emissions and, looks forward to working with the government on solutions that will benefit both the environment and the economy."
CME is committed to making the CFS a priority focus in the coming months in order to foster meaningful dialogue and understanding around this approach.
The C.D. Howe study can be found here: https://www.cdhowe.org/sites/default/files/attachments/research_papers/mixed/E-Brief%20279.pdf
About the Canadian Manufacturers & Exporters:
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and thrive around the world. In 2016, CME released Industrie 2030 - a roadmap for doubling Canadian manufacturing activity by 2030. Our focus is to ensure the sector is dynamic, profitable, productive, innovative and growing. We aim to do this by strengthening the labour force, accelerating the adoption of advanced technology, supporting product commercialization, expanding marketplaces and, most importantly, ensuring a globally-competitive business environment. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada's exports.
SOURCE Canadian Manufacturers & Exporters
For further information: Stefi Proulx, Director of Communications & Branding, Canadian Manufacturers and Exporters, 613-292-6070, email@example.com