TMCnet News
Toronto Climate Action Goes Regional with Provincial BoostTORONTO, Oct. 25, 2016 /CNW/ - A new $17 million provincial investment will expand Toronto's climate agency, The Atmospheric Fund (TAF) to serve the Greater Toronto and Hamilton Area (GTHA). The new endowment was officially announced last night by Ontario Minister of Municipal Affairs Bill Mauro, on the occasion of TAF's 25th anniversary. TAF is a globally-recognized leader in urban climate solutions, created by the City of Toronto long before climate change was headline news. The new capital leverages TAF's sustainable funding model and increases its ability to support urban climate change solutions to in the GTHA, where approximately 30% of Ontario's greenhouse gas emissions are generated. "Our government is investing $17 million to help The Atmospheric Fund expand its role into the GTHA. With 25 years of experience developing uccessful innovative solutions to reduce greenhouse gases and fight climate change, this funding will help this unique agency collaborate with its regional partners to reduce Ontario's carbon footprint and to build a greener, more prosperous future for our children and grandchildren," said Minister of Municipal Affairs Bill Mauro. "The role cities play in advancing climate action is critical. We need to reduce emissions from buildings, transportation, manufacturing and waste in order to achieve the province's carbon reduction targets," said TAF's CEO, Julia Langer. "TAF's programs, grants and investments help demonstrate and de-risk innovative low-carbon opportunities which can be implemented region-wide." TAF has operated at no cost to taxpayers since the City of Toronto provided a $23 million endowment 25 years ago; its operating expenses are covered by investment proceeds. The legacy investment announced yesterday builds on the leadership of the City of Toronto and reflects the Ontario Government's commitment to addressing climate change. ABOUT THE ATMOSPHERIC FUND SOURCE Toronto Atmospheric Fund |