The Forest Products Association of Canada (FPAC) is applauding the federal government for the "unprecedented success" of its $1 billion Pulp and Paper Green Transformation Fund (PPGTP).
In a report, FPAC found that the program has funded 98 projects and supported 14,000 jobs.
"The investments from this program truly improved the environmental performance of Canada's pulp and paper sector and had extraordinary social and economic benefits for forest communities as well," said David Lindsay, president and CEO of FPAC.
The policy has been aimed at helping pulp and paper mills that agreed to use targeted capital investments to support Canadian jobs and improve their environmental performance and green technologies.
FPAC described the policy as a response to a U.S. multibillion-dollar subsidy for pulp and paper mills under the black liquor tax credit that "unfairly hit Canadian mills already reeling from the global recession and a high Canadian dollar."
Lindsay commended the federal government for the policy.
"Canada got it right," he said. "The program has helped drive environmental improvements and allowed the Canadian industry to leverage its strong green credentials in the international marketplace."
Various B.C. pulp and paper mills have drawn on the fund, including Cariboo Pulp and Paper Co.'s Quesnel mill and Canfor Pulp's Northwood mill in Prince George.
