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Feds roll out $72.4M green fund for business

Federal fund will cover up to 25% of cost of environmentally friendly upgrades
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A total of $72.4 million of the new Climate Action Incentive Fund’s Small and Medium Enterprises (SME) Project stream has been set aside for Ontario businesses with fewer than 500 employees who want to get greener.  (Stock)

Applications are now being accepted from businesses across Ontario looking to become more environmentally friendly.

A total of $72.4 million of the new Climate Action Incentive Fund’s Small and Medium Enterprises (SME) Project stream has been set aside for Ontario businesses with fewer than 500 employees who want to go greener.

“Eligible projects might range from retrofitting a fleet of trucks to use biodiesel, to purchasing energy-efficient industrial equipment upgrades, or adding solar and insulation to an office building,” said a July 23 release from Sudbury-based Green Economy North.
 
Applications will be accepted for only 90 days after July 17, or until funding is exhausted. The grants, ranging from $20,000 to $250,000, will pay up to a quarter of the costs of qualifying projects in Ontario. A separate fund has been earmarked for projects in Saskatchewan, Manitoba, and New Brunswick.

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“Opportunities like this build resiliency for small and medium enterprises,” David St. Georges, program manager at Green Economy North, is quoted as saying in the release. “As both energy costs and climate patterns change, energy efficiency isn’t just good for the environment, it’s important for the bottom line.”

Projects eligible for funding include:

  •  switches to low-emitting fuels 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; and
  •  low-emission fuel production or renewable energy production for own use.

“This first-come-first-served grant gives owners of small and medium businesses a unique chance to get paid to save money for their businesses while doing the right thing for our environment,” the release said. “With less than 90 days to go, the early birds are likely to get the (green) worms this time.

Green Economy North is a membership-based program designed to help Northern Ontario businesses adopt more sustainable practices.

 




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