Canada Unveils $2-Billion Low Carbon Economy Trust
The Canadian government has unveiled a four-year, $2-billion Low Carbon Economy Trust to fund projects that “materially” reduce greenhouse gas emissions.
“We’ll help to put good ideas and solutions into action for the benefit of all,” Environment and Climate Change Minister Catherine McKenna told the annual sustainable communities conference hosted by the Federation of Canadian Municipalities. “This is the moment when we all agree that climate change is the challenge of our generation.”
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The trust will “support projects in clean energy that can be commercialized, scaled up, and exported,” CBC reports, noting that cities have direct control over 40% of Canada’s emissions.
McKenna also announced $31.5 million in federal funding for 20 projects across the country, including a net-zero library in Varennes, Quebec and a residential solar hot water project in Halifax.