Home Business & Finance Climate Action Incentive Fund Paves the Way for Clean, Green Business Investments
Climate Action Incentive Fund Paves the Way for Clean, Green Business Investments

Climate Action Incentive Fund Paves the Way for Clean, Green Business Investments

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OTTAWA: Yesterday, Minister of Environment and Climate Change Catherine McKenna announced new details on the deployment of the Climate Action Incentive Fund that will help owners of small and medium-sized enterprises (SMEs) to be more energy-efficient, save money, and take action to reduce pollution.

Sandy MacLeod, president and CEO of the Heating, Refrigeration and Air Conditioning Institute of Canada (HRAI) applauded the initiative, confirming that support for energy efficiency investments will be good for Canadian businesses.  “HRAI is pleased to support the Government of Canada’s announcement today on its commitment to assist small businesses to invest in energy-saving equipment and retrofits,” said MacLeod.

David Weishuhn, owner of Blue Flame Heating and Air Conditioning in Toronto and Board Chair for HRAI stated: “One of the major contributors to greenhouse gases in Canada comes from our built environment and today’s announcement will help businesses to reduce their carbon footprint while improving energy and operational efficiency.” MacLeod added: “SMEs interested in cost-effective ways to reduce their own GHG emissions are often faced with challenging fiscal realities. The refunds on investments offered through this program will help them to adopt more energy efficient products sooner.”

Under the Climate Action Incentive Fund, small and medium-sized businesses in SaskatchewanManitobaOntario and New Brunswick (the four provinces where the federal price on pollution applies) will be able to apply for:

  • Refunds between 25% and 50% on the cost of new energy-saving equipment, including heating and cooling equipment and high efficiency boilers;

  • Funding of up to 25% of eligible costs for energy-efficient retrofits and other projects to improve energy efficiency, reduce their energy use and save money.

Members of HRAI have advocated for the government to support the adoption of energy efficient products by both businesses and individuals as an effective means to saving energy and reducing carbon emissions.  Residential, commercial and industrial buildings account for 17% of Canada’s GHG emissions and more than half of that comes from space heating and cooling.

“We look forward to working with government as we bridge the gap with manufacturers and installers of energy efficient products in Canada.” concluded MacLeod.

About HRAI-Canada

The Heating, Refrigeration, and Air Conditioning Institute of Canada (HRAI) is a non-profit national trade association of manufacturers, wholesalers and contractors in the Canadian heating, ventilation, air conditioning and refrigeration (HVACR) industries. We seek to foster a progressive Canadian HVACR industry that provides the highest quality, most energy efficient and environmentally responsible systems for indoor comfort and refrigeration processes. The built environment plays a vital role in Canada’s ability to use its natural resources in a manner that is as efficient as possible. HVACR is a fundamentally important sector for improvement that will help Canada meet its ambitious climate objectives.

Source: The Heating, Refrigeration and Air Conditioning Institute of Canada (HRAI)
Anand Gupta Editor - EQ Int'l Media Network