Federal funding available to help small, medium businesses go green
$72.4 million of federal funding reserved for Ontario businesses
Yorkregion.com
Aug. 1, 2019
Aileen Zangouei
The government of Canada has announced that small and medium business owners in Ontario will have the opportunity to receive federal funding to improve the sustainability of operations and their bottom lines.
The $72-million fund will go towards helping businesses go green and to take the needed climate change action.
The newly launched Climate Action Incentive Fund: Small- and Medium-sized Enterprises Project stream, covers new sustainability projects taken on by businesses with fewer than 500 employees.
Eligible projects range from retrofitting a fleet of trucks to use biodiesel, to purchasing energy-efficient industrial equipment upgrades, to adding solar insulation to an office building and more. Some $72.4 million of funding has been reserved for Ontario.
Applications for funding are open to small and medium sized businesses until Oct. 15, or until funding is completely spent.
Eligible projects include:
- switched to low emitting rules in buildings, agriculture, industry, and transportation;
- building and vehicle retrofits that save energy by improving efficiency or reducing waste;
- improvements to the energy efficiency of industrial and agricultural processes;
- low emission fuel production or renewable energy production for own use.
"Our members have been excited by the possibilities associated with this program," said Harry French, program manager of ClimateWise Business Network, adding that, "The focus is on rapid implementation of energy saving actions which have measured impact on GHG reductions. The fund will half the pay-back person on many projects."
ClimateWise Business Network is one of seven non-profit Green Economy Hubs across Ontario that support businesses with reducing their greenhouse gas emissions while becoming more economically competitive.
The newly launched federal funding (The Climate Action Incentive Fund) will provide $20,000 to $250,000 to offset up to 25 per cent of the cost of qualifying projects in Ontario, as well as other provinces.
Small and medium sized businesses are only eligible to receive funding which is on a first-come, first-served basis. This is a unique chance to get paid to save money for their business while addressing environmental issues.
Businesses that want to take advantage of the opportunity but are unsure of how to get started may contact Harry French at 647-688-4922 or email at hfrench@windfallcentre.ca.
