TORONTO, Oct. 25, 2016 /CNW/ - A new $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 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 climate change solutions to in the GTHA, where approximately 30% of Ontario's greenhouse gas emissions are generated.
"Our government is investing $17 million to help The Atmospheric Fund expand its role into the GTHA. 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.
"The role cities play in advancing climate action is critical. We need 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 of the City of Toronto and reflects the Ontario Government's commitment to addressing climate change.
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.
SOURCE Toronto Atmospheric Fund
Image with caption: "L-R: Ontario Minister of Energy Glenn Thibeault, TAF Chair Sandra Odendahl, Ontario Minister of Environment and Climate Change Glen Murray, TAF CEO Julia Langer, Senator Art Eggleton, Ontario Minister of Municipal Affairs Bill Mauro gather to celebrate 25 years of urban climate action (CNW Group/Toronto Atmospheric Fund)". Image available at: http://photos.newswire.ca/images/download/20161025_C5350_PHOTO_EN_803113.jpg
For further information: MEDIA CONTACT: Julie Leach, Communications Manager, The Atmospheric Fund, Office 416-393-6382, [email protected]