Ontario Centres of Excellence (OCE) and Alberta’s Climate Change and Emissions Management Corp. (CCEMC) are partnering to bolster cross-provincial efforts that support innovative technology breakthroughs for reducing greenhouse gases (GHGs) like carbon emissions.
Officials announced the signing of an agreement between OCE and CCEMC to focus on the strengths of both provinces to accelerate solutions that will reduce GHGs. The OCE was entrusted to manage and execute the $74 million GHG initiative five months ago. The program aims to reduce greenhouse gas emissions by encouraging large GHG emitters to adopt technologies and by supporting entrepreneurs in developing creative solutions.
OCE is leveraging additional financial investments from industry and other public sector partners. CCEMC has committed more than $320 million in funding to over 100 projects to help Alberta address climate change. Funding for CCEMC comes from Alberta’s Large Final Emitters who choose to pay a levy into the Climate Change and Emissions Management Fund to comply with legislation that sets emissions limits for facilities.
“CCEMC will continue to work with industry and our newest partner, OCE, to advance the development of new clean technologies that we need to reduce greenhouse gas emissions in Alberta,” said CCEMC CEO Steve MacDonald. “By strategically investing the carbon levy, we will help create jobs, diversify the economy and advance Alberta’s Climate Leadership Plan.”
The Climate Leadership Act will ensure the carbon price currently applied to large emitters will be invested to benefit all of Alberta. In 2015, Ontario became the first province in Canada to set a mid-term greenhouse gas emission reduction target of 37 percent below 1990 levels by 2030.