In addition to adapting our buildings, the Canadian government also needs to continue to address climate change long-term and reduce Canada's emissions. We need support for technologies, like carbon capture utilization and storage, that reduce emissions from traditional sources of energy, like fossil fuels. We also need support for alternative sources of energy, like small modular reactors and hydrogen.
Budget 2023's investment tax credits will support the transition and incentivize industry to adapt. Linking these tax credits to one of the strongest definitions of prevailing wage in Canadian history—to union compensation—supports good-paying jobs throughout this transition. We need to develop practical solutions that include labour, industry and communities.
On behalf of CBTU's 14 affiliated international unions, including the UA, thank you for this opportunity to present.