A new fund allows organizations to reduce their environmental footprints by investing in local emission reduction projects.
Many organizations in the GTA are seeking to reduce their emissions. Some do so voluntarily with the end goal of achieving carbon neutrality. Other organizations do so to satisfy obligations of domestic legislation that may be introduced in the near future. One way for an organization to reduce emissions is to pay for emissions reduction done elsewhere by buying emissions offset credits. Demand for emissions offset credits is growing while the supply of Canadian project-based offset credits remains limited and buyers are turning to international sellers. The Greening Canada Fund helps these organizations reduce their emissions by providing them with access to local greenhouse gas emissions offsets.
The Greening Canada Fund acquires credits by assisting Canadian non-profit, public or quasi-public organizations to undertake GHG emissions reduction projects. These include projects in schools, colleges, universities, public housing, non-profit housing and hospitals. By providing financial support and access to required expertise, these projects generate high quality third-party verified emissions offset credits. These offsets are sold to investors and, where reasonably practicable, the majority of the money generated is used to facilitate further green projects.
By providing companies and other organizations the opportunity to invest in domestic emission reductions projects, the Greening Canada Fund:
Green Power Action Inc., a Toronto-based company, is the Manager of the Fund. The firm's principals, Gerry Rocchi, Phil Schmitt and Robert Elms bring deep investment fund experience and expertise including over twelve years of Canadian and United States carbon fund project and carbon trading experience.