Low Carbon Economy Fund to Reduce Greenhouse Gas Emissions and Generate Clean Growth

June 15, 2017

Today, the Minister of Environment and Climate Change, Catherine McKenna, announced a $2 billion Low Carbon Economy Fund. Projects that will be considered under the Fund will reduce emissions, create jobs and save Canadians and companies money by making homes and buildings more efficient; help companies innovate or use technologies to reduce their emissions; and support the forest and agriculture sectors to enhance stored carbon in forests and soils.

The Low Carbon Economy Fund is an important part of the Pan-Canadian Framework on Clean Growth on Climate Change. The Framework reaffirmed the importance of collaboration between the Government of Canada and provinces and territories in addressing climate change, and the Fund will help provinces and territories build on the leadership they have shown to date and deliver on their commitment to reduce climate changing emissions.

Over the next five years, the Fund will support projects from provinces and territories, municipalities, Indigenous governments, businesses, and other organizations that provide innovative solutions to reduce greenhouse gas emissions and pollution, encourage innovation, and create cleaner and healthier communities.

The Low Carbon Economy Leadership Fund and the Low Carbon Economy Challenge will reduce emissions through targeted projects such as:

• Rebates for installing high performance equipment and incentives to retrofit homes and commercial buildings;
• Projects improving energy efficiency for industries, supporting changes in their processes and helping them switch to lower carbon fuels; and,
• Programs for reforestation, enhanced forest management, and utilizing dead wood after forest fires or insect infestations.

“We understand that a clean environment and a strong economy go hand in hand. The Low Carbon Economy Fund will deliver clean, sustained economic growth for years to come. It is seeking the best and most innovative ideas to reduce our emissions for the good of current and future generations. These projects will also reduce energy bills and create good, middle class jobs for Canadians.” – Catherine McKenna, Minister of Environment and Climate Change

Photo: Catherine McKenna