Ontario set to establish clean technologies fund in order to meet Paris Climate Agreement

By tarvicn vicn
Share

The Government of Ontario has released its plan aiming to comply to the Paris Climate Agreement targets.

The strategy includes the introduction of a fund that will target private investment in clean technologies.

The province will invest $400mn into the initiative over a span of four years, through the Ontarion Carbon Trust, which is funded by taxpayers.

The government also plans to establish performance standards for large emitters in an aim to meet the goals by 2030.

Rob Phillips, the Environment Minister of the province, revealed the strategy on 29 November.

SEE ALSO:

“It's a plan that makes a clean break from the status quo, and it's a plan that balances a health environment and a healthy economy,” noted Phillips.

“Our plan will encourage individuals, families and businesses to take greater ownership of our shared environment while we work toward those shared objectives.”

The Paris Climate Agreement targets include reducing emissions by 30% against a 2005 baseline by 2030.

In order to meet the target, Ontario needs to reduce its emissions from 161 megatonnes to 143 megatonnes.

“The plan we have presented today, is a sensible, achievable approach to do that,” Phillips added.

Share

Featured Articles

What is Nestlé CEO Laurent Freixe’s Action Plan?

Newly appointed CEO sets out action plan involving separating water brands into standalone business and boosting advertising and marketing spend

Will Mulberry Turn a New Leaf Under CEO Andrea Baldo?

International British luxury brand cuts quarter of head office staff as newly appointed CEO conducts strategic review

Female Board Members of Biggest UK Companies Paid 69% Less

Female board members of FTSE 100 companies are paid 69% less than male counterparts, as they find themselves frozen out of the biggest roles

Is This the Next CEO of LVMH?

Leadership & Strategy

How Burberry’s New CEO Is Going Back to Basics

Leadership & Strategy

Is Bayer CEO Bill Anderson Running Out of Time?

Leadership & Strategy