Toronto, ON — An historic $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 included in the February 2016 provincial budget and 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 solutions to climate change, where approximately 30% of Ontario’s greenhouse gas (GHG) emissions are generated. TAF’s focus on energy efficiency retrofits will help the region support local green jobs and reap the benefits of the low-carbon economy.
“Our government is investing $17 million to help The Atmospheric Fund expand its role into the Greater Toronto and Hamilton Area. With 25 years of experience developing successful 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.
“Because 60% of Ontario’s climate pollution originates in cities, solutions are needed 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 and vision of the City of Toronto, and reflects the Ontario Government’s commitment to practical action to address climate change and improve the health and well-being of millions of Ontarians.
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About The Atmospheric Fund
Founded in 1991 by the City of Toronto, TAF’s mission is to invest in urban low-carbon solutions to reduce greenhouse gas emissions and air pollution. To date, TAF has invested more than $50 million, helping Toronto shave more than $60 million from its energy bills, and contributed to a city-wide reduction of GHG emissions to 24% below 1990 levels. For more information about TAF’s projects and partners, please visit taf.ca.
Julie Leach, Communications Manager
The Atmospheric Fund