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ARTICLE · 11 APRIL 2017

Ontario Creates Green Bank To Fund Low-Carbon Tech

As promised in the Climate Change Action Plan, Ontario recently announced the creation of the Ontario Climate Change Solutions Deployment Corporation, also known as the Green Bank.

CanadaEnvironment

As promised in the Climate Change Action Plan, Ontario recently announced the creation of the Ontario Climate Change Solutions Deployment Corporation, also known as the Green Bank. The new provincial agency was created by the recently enacted regulation, Ontario Climate Change Solutions Deployment Corporation (O.Reg 46/17). It will "focus on reducing market barriers to deployment of low-carbon technologies, including through improved access to information, incentives, and strategic use of financial de-risking tools to encourage greater private sector investment, emphasizing absolute greenhouse gas reductions through activities such as fuel-switching, energy storage, use of renewable energy and deep energy retrofits." As set out in the Climate Change Action Plan, Ontario will provide funding for the Green Bank of up to $1.1 billion starting in 2018 from cap and trade auction proceeds.

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