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

By tarvicn vicn

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

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy