Ontario develops a Climate Change Action Plan

The province of Ontario, Canada, materialized its support for low carbon technology, which in turn, allows to reduce greenhouse gases and thus combat climate change.

The strategy will help clean technology companies grow and approach global customers through:

• Support in risk taking and preparation at scale: such as improving access to the intelligence of the global market.
• Access to financing: including providing direction in accessible provincial and federal funds to finance the development of clean energy.
• Regulatory modernization: among which is expected the reduction of barriers to access clean energy markets.
• Adoption and procurement: with what is sought to increase the number of demonstrations and pilot tests of products.
• The investment of the province is part, financed with funds from the province’s carbon bond market.

Reza Moridi, Minister of Research, Innovation and Science, today announced the Clean Technology Strategy, which will allow clean technology companies to place new products and services on the market, find new customers and position themselves in an international market with an estimated value of 2.5 billion canadian dollars for 2022.

The Clean Technology Strategy includes initiatives funded by carbon market revenues that support clean technology companies and incubators. In order to assist in the development and growth of new technologies, the Global Market Acceleration Fund (GMAF) and the Green Focus on: Innovation and Technology (GreenFIT) are also incorporated and green innovation and technological leadership will be the engines of Ontario’s new green economy.

Also, government of Ontario’s Green focus on Innovation and Technology (GreenFIT) strategy and is committed to making Ontario more competitive, innovative, and sustainable.

Through the use of demonstration projects using public sector facilities and assets, the government is creating opportunities for new green technology companies as they introduce innovative and sustainable solutions into the local and global marketplace.

The GreenFIT strategy will enable companies to provide innovative and sustainable technologies and solutions that the public sector can consider as new, low-carbon technology solutions

Ontario is the seventh largest economy in North America and the largest banking, insurance and capital center in Canada. The diverse and innovative economy of the province, combined with a highly skilled and talented workforce, the reduced costs to conduct business and the generous incentives to promote research and development make Ontario one of the most ideal places to do business and to invest.

Ontario has also made significant investments to help businesses adopt the clean technologies they need to reduce greenhouse gas emissions.

The province provided $74 million from the Ontario Green Investment Fund toward TargetGHG, a program offered through the Ontario Centres of Excellence to seed the development of novel clean technologies, while stimulating the adoption and uptake of these technologies within key industrial sites.

Ontario also invested 25 million from the Ontario Green Investment Fund in the Smart Green program. This program is designed to assist businesses to invest in equipment and process upgrades including high-efficiency ovens, dryers, kilns and furnaces.

These upgrades will improve the competitiveness of Ontario’s small- and medium-sized manufacturers and help to reduce their energy consumption.

Through the Green Ontario Fund, the province will also provide programs and rebates to help reduce energy costs in homes and businesses, including through the adoption of clean technology.

Ontario is committed to positioning our cleantech sector to capture the global opportunities that are currently within reach – and those that lie ahead. The growth of the clean technology sector can be facilitated by private and public sector focus on the four pillars. As we move forward with implementing Ontario’s Cleantech Strategy, we will focus on how these four pillars work in tandem to best facilitate sector growth.

The decision to accelerate the growth of our clean technology sector today and over the next few years will determine our ability to transition to a low carbon economy, as well as the future course of economic growth in Ontario, not only in the cleantech sector but also across our economy.