This “will help drive and accelerate the green industrial transformation of Canada’s aerospace industry, generating high-value jobs while strengthening supply chains and supporting the transition to a net-zero economy,” Champagne said.
The UN aviation agency members in October 2022 set the year 2050 as their goal for achieving net-zero carbon emissions for air travel — an industry often criticized for its outsized role in climate change.
Currently responsible for 2.5 percent to 3.0 percent of global CO2 emissions, the sector’s switch to renewable fuels is proving difficult, even if the aeronautics industry and energy companies are seeking progress.
Champagne made the funding announcement while attending the Paris Air Show, where it was applauded by Canadian firms.
The export-driven Canadian aerospace sector employes about 210,000 people and contributes Can$27 billion to the economy, according to government figures.