What is the Low Carbon Economy Fund?
The $2 billion Low Carbon Economy Fund (LCEF) is an important part of the Pan-Canadian Framework on Clean Growth and Climate Change (the Framework).
The Fund supports the Framework by leveraging investments in projects that will:
- generate clean growth
- reduce greenhouse gas emissions
- help meet or exceed Canada's Paris Agreement commitments
The Fund is helping to:
- create jobs for Canadians for years to come
- deliver clean, sustained growth
- support innovation
- reduce energy bills
The Fund has two parts:
- Low Carbon Economy Leadership Fund
- Low Carbon Economy Challenge
Low Carbon Economy Leadership Fund
This Fund is providing up to $1.4 billion to provinces and territories that have adopted the Framework. The funding helps them deliver on their commitments to reduce greenhouse gas emissions.
This funding recognizes the key role provinces and territories play in implementing the Framework and addressing climate change. Provinces and territories are each eligible to receive $30 million plus funding based on population.
Starting in fall 2017, provinces and territories worked with the federal government to agree on which projects to fund. Bilateral funding agreements are finalized with most jurisdictions and many projects are underway.
For the province of Ontario: Energy Savings Rebate Program for Retailers
From a portion of Ontario’s allocation through the Low Carbon Economy Leadership Fund, the Energy Savings Rebate program will allow Ontario retailers to offer rebates on the purchase of approved energy efficient products. This will help Ontarians to reduce energy use, save money and address climate change. For more information, see the Energy Savings Rebate page.
For more information:
- Backgrounder (June 15, 2017): Allocations to Provinces and Territories
Low Carbon Economy Challenge
The Low Carbon Economy Challenge will provide over $500M. While funding decisions continue to be made, funded projects are leveraging ingenuity across the country to reduce emissions and generate clean growth. For further information, see the Challenge home page.
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