February 17, 2016
Ontario Green Investment Fund to Help Reduce Emissions and Grow the Economy
Ontario is putting its new Climate Change Strategy into action by investing nearly $100 million from the Ontario Green Investment Fund into projects that will reduce greenhouse gas emissions, increase energy efficiency and support cleantech innovation and jobs.
Premier Kathleen Wynne was at Morgan Solar to announce the two new programs for business.
The government will invest $74 million in a cleantech innovation initiative, which will help reduce greenhouse gas pollution by encouraging large industrial plants to adopt leading-edge technologies, while supporting entrepreneurs in developing creative solutions. For this initiative, the government is partnering with the Ontario Centres of Excellence, which drive the development of Ontario’s economy by helping create new jobs, products, services, technologies and businesses.
The government is also investing $25 million in a Green Smart energy efficiency program to help small and medium-sized businesses reduce emissions and become more energy efficient. The program will be delivered by Canadian Manufacturers & Exporters, Canada’s largest trade and industry association.
Ontario’s new $325-million Green Investment Fund commits money to projects that fight climate change while growing the economy and creating jobs. These investments will help transform the way we live, move, work and adapt to our environment by building strong and sustainable communities.
Fighting climate change while supporting economic growth, efficiency and productivity is part of the government’s plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
- The government’s new $325 million Green Investment Fund is a $325-million down payment on the province’s proposed cap and trade program and was announced in the 2015 Ontario Economic Outlook and Fiscal Review.
- The Ontario Green Investment Fund supports Ontario’s Business Growth Initiative, helping to accelerate Ontario’s innovation economy, while responding to the challenges and opportunities of rapid technological change and global economic forces.
- In just 10 years, Ontario has become a North American leader in the development, use and manufacturing of clean energy.
- In May 2015, Ontario became the first province in Canada to set a mid-term greenhouse gas pollution reduction target of 37 per cent below 1990 levels by 2030.
“Our government is taking action to stop climate change by helping our business sector create prosperity and jobs for today and tomorrow. Through these two new programs, we will help reduce greenhouse gas emissions, while promoting the innovative and disruptive technologies that will improve productivity and secure our economic future.”
— Kathleen Wynne, Premier of Ontario
“Our government understands the incredible opportunity that exists to create good jobs and grow our economy in the innovative sectors that are helping us move towards a greener environment. By partnering with Ontario Centres of Excellence to promote the next generation of clean technologies that reduce emissions and increase efficiency, we can improve Ontario’s environment and our thriving innovation ecosystem at the same time.”
— Reza Moridi, Minister of Research and Innovation
“We are pleased to partner with Canadian Manufacturers & Exporters on the Green Smart program — a new way to promote innovative energy efficiency technologies and environmental best practices throughout businesses in Ontario. We are committed to supporting a cleaner, healthier environment, while growing our economy and creating new jobs.”
— Brad Duguid, Minister of Economic Development, Employment and Infrastructure
“Climate change is the most pressing issue of our time and our future depends on the choices we make today. It’s imperative we take action on all fronts to effectively reduce greenhouse gas pollution while building a stronger economy. By helping industry and businesses adopt homegrown clean technologies, we’ll protect the air we breathe and create the jobs that foster economic growth and build stronger communities.”
— Glen Murray, Minister of the Environment and Climate Change