New funding from the Low Carbon Economy Leadership Fund for six provinces
December 20, 2017 —The Government of Canada has announced it will provide over $1 billion from the Low Carbon Economy Leadership Fund over the next five years to six provinces.
By Ellen Cools
The Minister of Environment and Climate Change, Catherine McKenna, announced that British Columbia, Alberta, Ontario, Quebec, New Brunswick and Nova Scotia will receive the funding.
The Low Carbon Economy Fund is an investment under Canada’s clean growth and climate plan, which will help Canada meet its 2030 Paris Agreement target. The fund has two components: a $1.4 billion Leadership Fund and the Low-Carbon Economy Challenge.
Provinces and territories have proposed concrete actions for Leadership Fund investments that will reduce carbon pollution. Provinces estimate that the projects included in the $1 billion funding could create up to 40,000 new jobs in fields like construction, other skilled trades and engineering.
The Leadership Fund is projected to reduce Canada’s greenhouse gas pollution by over 3 million tonnes in 2030.
Provinces and territories become eligible to receive Leadership Fund dollars when they adopt the Pan-Canadian Framework on Clean Growth and Climate Change.
The Government of Canada is also investing $21.9 billion in green infrastructure. Investments will be made in clean electricity grid interconnections, electric vehicle charging stations and projects to safely manage wastewater.
According to Environment and Climate Change Canada, the Leadership Fund will make homes and buildings more efficient, comfortable and affordable to run, help companies innovate and access technologies.
The federal government will launch the Low Carbon Economy Challenge in 2018.