In June 2016, the Ontario Government released its Climate Change Action Plan, setting out actions to help the province meet its 2020, 2030 and 2050 greenhouse gas (GHG) emission reduction targets and to facilitate the province’s transition to a “prosperous low-carbon economy.” The Action Plan contemplated the creation of a new entity, drawing on best practices in other jurisdictions, to complement Ontario’s cap and trade program by using a portion of proceeds to increase deployment of specific low-carbon technologies that will help households, including low-income households, small and medium enterprises and industry reduce their carbon footprints.
To implement this action, the Ministry of Environment and Climate Change in February established the “Ontario Climate Change Solutions Deployment Corporation,” which will be funded through the Greenhouse Gas Reduction Account in accordance with section 71 of the Climate Change Mitigation and Low-carbon Economy Act. The public-facing name of the corporation will be announced at a future date.
The corporation’s activities will focus on “reducing market barriers to deployment of low-carbon technologies, through improved access to information, incentives, and strategic use of financial de-risking tools to encourage greater private sector investment, emphasizing fuel-switching, energy storage and deep energy retrofits.”
More details on the operation of this new corporation – including how it will interact with existing bodies such as the IESO and the gas utilities that are currently responsible for conservation programs — are yet to emerge, but it is expected that any programs affecting the HVACR sector related to the reduction of carbon emissions will come through this agency.
For more information, contact Martin Luymes at 1-800-267-2231 ext. 235 or email mluymes@hrai.ca.