The Canadian province of Ontario will be investing $100 million into “green energy” projects, through its Green Investment Fund, as part of its push to slash greenhouse gas emissions by 37% by the year 2030, according to new reports.
This ~$100 million figure refers to two different investments — a $74 million investment through a new government program, intended to spur the adoption of energy efficiency measures by large industrial facilities; and a $25 million investment into a “Green Smart” energy efficiency program aimed at getting small and mid-sized businesses to slash the carbon emissions that they’re responsible for.
The new $74 million investment was announced by the province’s premier, Kathleen Wynne, while speaking recently at a facility of the Canadian solar energy technology firm Morgan Solar. During the speech, Wynne also confirmed the $25 million investment program, which is being pursued in partnership with the largest trade and industry association in Canada, Canadian Manufacturers and Exporters.
The new investments will allow the province to cut greenhouse gas emissions while also improving local business prosperity and job growth, according to Wynne.
“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,” she noted.
For some background here, the $325 million Ontario Green Investment Fund — where the new funding is originating — was launched back in November 2015, with the intent of supporting actions meant to address climate change while supporting the local economy as well. The government has already committed $20 million of this to an electric vehicle (EV) charging station buildout, and a further $100 million to the support of home energy efficiency retrofits.
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