For Immediate Release - July 22, 2019
"Dealing with the Climate Emergency means taking concrete steps toward reducing Greenhouse Gas emissions. Industry contributes 40% of current GHG’s, so it is important to provide tools for this sector to do their part in the battle. Our children and grandchildren depend on us getting this right."
- Lloyd Longfield, Member of Parliament for Guelph
MP Lloyd Longfield knows that Canadians are fighting climate change because they know a healthy environment and a strong economy go hand in hand. Climate action presents a global economic opportunity representing $26 trillion and 65 million jobs. Energy efficiency reduces energy costs and helps people save money. Likewise, small business owners across the country want to do their part in the national effort to fight climate change.
“In communities across Canada, small and medium-sized businesses are proving that taking action on climate change is good for business. To build on their leadership and ensure more small-and medium-sized businesses have the means to take action, we are helping business owners invest in new equipment and retrofits to be more energy efficient, cut pollution, and save money.”
– Catherine McKenna, Minister of Environment and Climate Change
The Minister of Environment and Climate Change, Catherine McKenna, announced on July 17, 2019 that small-and medium-sized businesses in the four provinces where the federal government carbon-pollution pricing currently applies can now apply to the SME Project stream of the Climate Action Incentive Fund. Small and medium-sized businesses in these provinces will be eligible to receive funding of up to 25 percent of the cost of projects that will make their businesses more productive and competitive as they reduce energy use, save money, and cut greenhouse gas pollution. The application stream will be open for 90 days from July 17, 2019 or until funding is exhausted.
A wide range of projects are eligible, including building retrofits, improved industrial processes, fuel switching, and the production of renewable energy for the use of applicants.
Applicants can consult the applicant guide to prepare their proposal and submit it through the online application tool. Applicants will be notified of the decision after approximately 25 business days upon receipt of their application.
Businesses in Ontario, New Brunswick, Manitoba, and Saskatchewan could be eligible to receive funding of up to 25 percent of eligible costs for energy-efficient retrofits and other projects to improve energy efficiency, reduce their energy use, and save money—to a maximum of $250,000 per applicant per eligible province. The minimum amount of federal funding per application is $20,000.
The Government of Canada implemented changes to accelerated capital costs that allow businesses to immediately write off the full cost of machinery and equipment used for the manufacturing and processing of goods or immediately write off the full cost of specified clean-energy equipment. Investments eligible for Climate Action Incentive Fund may also be eligible for the accelerated capital cost allowance.
“Small-and medium-sized businesses want to do their part to fight climate change, and helping them invest in energy-efficient equipment will not only cut their pollution but also increase their productivity. The environment and the economy go hand in hand—from the neighbourhood hardware store to the contractors performing the retrofits—and we’re proud to help small business owners be part of the climate change solution every step of the way.”
– Mary Ng, Minister of Small Business and Export Promotion
- 30 -
|
