Federal carbon tax funds new energy-saving projects for businesses
The financial support is available in Saskatchewan, Manitoba, Ontario and New Brunswick.
By Peter Saunders
Catherine McKenna, federal minister of environment and climate change, has announced small and medium enterprises (SMEs) in Saskatchewan, Manitoba, Ontario and New Brunswick—where a carbon tax was recently implemented—can now apply for financial support from the Climate Action Incentive Fund for their energy-saving projects.
Tapping into a portion of fuel-charge revenue, the fund’s SME Project Stream will support up to 25% of the costs for building retrofits, fuel switching, industrial process improvements and other initiatives, from a minimum of $20,000 to a maximum of $250,000. In total, SMEs in these four provinces will be eligible for $1.45 billion over the next five years to increase the energy efficiency of their operations.
“Helping SMEs invest in energy-efficient equipment will cut their pollution and increase their productivity,” says Mary Ng, federal minister of small business and export promotion. “The environment and the economy go hand in hand.”
The application period began July 17 and will be open until the initial round of funding—including $21.3 million in Saskatchewan, $9.3 million in Manitoba, $72.4 million in Ontario and $3.7 million in New Brunswick—is exhausted, for a maximum of 90 days. Applicants should check how to prepare a proposal before submitting it for consideration.
Updates on additional rounds of funding will be provided as they become available.