Tag Archives: carbon market

Funding Announced To Help Ontarians Save Energy And Money In Homes And Businesses

I’m sure we all read the distressing poll that about a third of Canadians still don’t believe the threat of climate change is real.  Even more illuminating: only 30 per cent even know we are taking action in Ontario to fight climate change.

This is the reason why Canada and Ontario are working together to take action on climate change and find clean solutions to help homeowners and families save money, reduce energy waste, create jobs and support healthy communities.

Minister of Environment and Climate Change, Catherine McKenna, and the Premier of Ontario, Kathleen Wynne, announced a federal investment of up to $100 million to help the people of Ontario make energy efficient retrofits to their homes – including apartments, townhouses and low-income housing – and businesses.

This funding will support the province’s GreenON Rebates program, which helps cover the cost of eco-friendly retrofits across the province. This investment is supported by the Government of Canada’s Low Carbon Economy Leadership Fund.

GreenON Rebates will assist property owners make energy efficient changes like installing better insulation, high-efficiency ventilation systems and heat pumps, and other devices to save energy and reduce costs.

This is an opportunity for us here in Haldimand-Norfolk to take action and do our part in fighting the climante change. We can take advantage of receiving some of our own tax dollars back by improving our houses and businesses while saving money in the long run at the same time.

As part of its Climate Change Action Plan (CCAP), Ontario in investing up to $1.7 billion over the coming years into GreenON to support a wide range of programs, including rebates and programs to help families, business and farmers make environmentally friendly changes. The CCAP is a five-year action plan that is making life more affordable for people across the province and making Ontario a leader in the global fight against climate change. Revenues from Ontario’s carbon market, which puts a cap on the carbon pollution businesses can emit, are funding this action plan.

The Government of Canada’s Low-Carbon Economy Leadership Fund provides $1.4 billion to provinces and territories that have adopted the Pan-Canadian Framework on Clean Growth and Climate Change (PCF), to deliver on commitments to reduce greenhouse gas emissions. Today’s announcement is part of the almost $420 million Ontario is receiving through the Leadership Fund.

Did you Know:

  • Through GreenON, property owners are currently eligible for rebates up to $7,200 in savings on new insulation; $5,000 in savings on replacement windows; $5,800 in savings on some air source heat pumps; and $20,000 in savings on installation of some certified ground source heat pumps.
  • In January, Ontario became part of the second-largest carbon market in the world, which forms the backbone of Ontario’s strategy to cut greenhouse gas pollution to 15 per cent below 1990 levels by 2020, 37 per cent by 2030 and 80 per cent by 2050.
  • Ontario’s carbon market has generation approximately $2.4 billion in revenue to improve schools, hospitals, transit and other projects like new bike lanes that are building a greener, more energy efficient province.
  • Ontario has committed up to $1.7 billion over three years to support a wide range of programs under the Green Ontario Fund (GreenON).

 

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Ontario Passes Landmark Climate Change Legislation

Today, Ontario passed landmark climate change legislation that lays a foundation for the province to join the biggest carbon market in North America and ensures that the province is accountable for responsibly and transparently investing proceeds from the cap and trade program into actions that reduce greenhouse gas pollution, create jobs and help people and businesses shift to a low-carbon economy.

Under the Climate Change Mitigation and Low-Carbon Economy Act, money raised from Ontario’s cap and trade program will be deposited into a new Greenhouse Gas Reduction Account. The account will invest every dollar in green projects and initiatives that reduce emissions.

Following extensive consultation with industry and other groups, the legislation was strengthened by now requiring enhanced accountability and public reporting on the province’s upcoming Climate Change Action Plan and investment of cap and trade proceeds.

From J. Magnuson's Book on the approaching post-carbon economy. Link below.
           From J. Magnuson’s Book on the approaching post-carbon economy. Link below.

Ontario will post its final cap and trade regulation upon royal assent of the legislation. The regulation covers detailed rules and obligations for businesses participating in the program. The final design was also informed by extensive consultation https://www.ontario.ca/page/cap-and-trade-consultations-summary with businesses, industry, the public, environmental organizations and Indigenous communities.

Climate change is not a distant threat – it is already costing the people of Ontario. It has damaged our environment, caused extreme weather like floods and droughts, and hurt our ability to grow food in some regions. Over the near term, climate change will increase the cost of food and insurance rates, harm wildlife and nature, and eventually make the world inhospitable for our children and grandchildren.

Minister of Climate Change Glen Murray
         Minister of Climate Change Glen Murray

Fighting climate change while supporting growth, efficiency and productivity is part of the government’s economic 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 talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.

QUOTES

“Passing the Climate Change Mitigation and Low-Carbon Economy Act marks the start of the next chapter in Ontario’s transformation to an innovative and prosperous low-carbon economy — one that will benefit households, businesses, industry and communities across the province. This legislation is about enshrining in law our resolve and action to protect and strengthen our environment for generations to come.”

— Glen Murray, Minister of the Environment and Climate Change

QUICK FACTS

§ Ontario’s Climate Change Action Plan is the next step in Ontario’s ongoing fight against climate change and is expected to be released in spring 2016. The plan will describe actions that will help more Ontario households and businesses to adopt low- and no-carbon energy in homes, vehicles and workplaces.

§ Ontario’s $325-million Green Investment Fund http://www.ontario.ca/greeninvestment , a down payment on the province’s cap and trade program, is already strengthening the economy, creating good jobs and driving innovation while fighting climate change — a strong signal of what Ontarians can expect from proceeds of the province’s cap and trade program. These investments will help secure a healthy, clean and prosperous low-carbon future and transform the way we live, move and work while ensuring strong, sustainable communities.

§ The Greenhouse Gas Reduction Account will receive proceeds from auctioning allowances under Ontario’s cap and trade program. The first auction will be held in March 2017.

§ Ontario intends to link its cap and trade program with Quebec and California.

LEARN MORE

Ontario’s Climate Change Strategy https://www.ontario.ca/page/climate-change-strategy

Learn How Cap and Trade Works https://www.ontario.ca/page/cap-and-trade

Green Investment Fund https://www.ontario.ca/page/green-investment-fund

Supplemental- Joel Magnuson’s Book- The Approaching Great Transformation: Toward a Livable Post-Carbon Economy