Saturday, February 15, 2020

Federal government will invest $183 million in Low Carbon Cities Canada


Low Carbon Cities Canada (LC3)  is an initiative that will support and accelerate urban carbon emission reduction actions, helping Canada meet the 2030 and 2050 climate change mitigation targets. LC3 is a partnership between  the Federation of Canadian Municipalities and seven local centers located in largest metropolitan areas -  Vancouver and the Lower Mainland, Edmonton, Calgary, the Greater Toronto & Hamilton Area, Ottawa, Montreal Metropolitan Community, and the Halifax region, representing 43 per cent of the country’s population, and working in partnership with the Federation of Canadian Municipalities. These centers will be serving more than 100 cities and towns all over the country. 
LC3 is built using 30 years of successful experience of  The Atmospheric Fund (TAF) supported by the City of Toronto and Province of Ontario.
The LC3 approach provides the capacity, capital, and risk tolerance necessary to remove the policy, regulatory and informational barriers to the adoption of new technologies and financial tools that can reduce urban carbon emissions.
The federal investment will support LC3 in the commercialization of low carbon technologies through the identification of their needs and priorities, facilitation of demonstration and lowering risks for public and private investments.
Building retrofits and net-zero construction, distributed renewable power,  and zero-waste circular economy are among LC3's priority areas.
It is expected that investments will be focused on carbon mitigation actions with carbon reduction costs under $20 per tonne  and it will allow to cut  9 million tonnes of CO2 annually, as well as to create 118,000 new jobs and boost GDP by 1% till 2030.
With emissions of 19.5 t CO2e per capitaCanada is among the most greenhouse gas-intensive economies in the world. Over 80% of the Canadian population lives in urban areas, and 90-95% of the population growth occurs in cities. At the same time, urban GHG emissions make up 42% of Canada’s total emissions, because most GHG intensive industrial activities (e.g. mining, oil and gas production) usually are located out of urban areas.