The CGF has signed an agreement with Gibson guaranteeing $85 for every tonne of carbon the oil pipeline company can successfully sequester at a planned waste- conversion plant near Edmonton. (The Logic)

Talking point: The carbon-offtake contract is the CGF’s second deal, after a similar agreement with Calgary-based carbon capture company Entropy for $86.50 per tonne last year. Such contracts are part of the CGF’s $7-billion mandate to incentivize investment in carbon-reducing technology by ensuring companies receive a minimum price for the CO2 emissions they remove. Under the deal, the CGF will take a 40 per cent stake in the Gibson plant, which will divert solid waste from Edmonton’s landfills to convert into energy, and is eligible to buy up to 200,000 tonnes of carbon credits per year from the project. Amid doubts that the CGF’s first contracts would be enough to incentivize major investments, Deputy Prime Minister Chrystia Freeland on Tuesday said additional measures like tax credits—first proposed in 2021—would provide “ironclad certainty” on projects.