Page 28 - Ebook HTKH 2024

Source: Canada.ca (2024)
The oil and gas sector ($2.7 billion) accounted for the largest share, more than a
quarter (27%) of all sectors' total environmental protection costs (including operating
and capital costs).
Electric Vehicles: The EV market in Canada is thriving, supported by government
incentives, infrastructure development, and public awareness campaigns. Canadian

automakers and technology companies are also playing a crucial role in advancing EV
technology and manufacturing. Zero-emission vehicles (ZEVs) are growing strongly in
Canada, with nearly 185,000 new vehicle registrations in 2023. This number is up 49%
from 2022, accounting for 11% of all new motor vehicle registrations. Meanwhile, ZEVs
are estimated to account for 14% of global auto sales. Global electric vehicle (EV) sales
are expected to reach around 14 million units in 2023; Canada's market share is about
1.3%, which is in line with the share of the global economy.

Source: Canada.ca (2024)
Under the New Electric Vehicle Availability Standards, automakers and

importers must meet annual sales targets set by the ZEVs Act. The targets begin with
the 2026 model year, requiring that at least 20 percent of new light-duty vehicles
(account for about half of Canada’s greenhouse gas emissions from the transportation
sector) sold that year be ZEVs. Requirements increase annually by 60 percent by 2030
and 100 percent by 2035.

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