Greening Greater Toronto launches first-ever voluntary carbon offset investment fund
On November 23, 2009, Greening Greater Toronto unveiled the Greening Canada Fund (the Fund), the first-ever voluntary carbon emissions reduction fund aimed exclusively at large Canadian corporations. The Fund, to be managed by Green Power Action Inc., will purchase carbon offset credits from green projects across Canada, creating green jobs and supporting green technologies nationally.
The Fund is designed to help corporations offset their emissions remaining after implementing other internal energy abatement strategies.
BMO Financial Group and TD Bank Financial Group have committed to an initial C$13 million investment as they move towards becoming the first large carbon-neutral corporations in Canada.
Greening Greater Toronto is an initiative of the Toronto City Summit Alliance, a coalition of civic leaders who develop and launch solutions to pressing social, economic and environmental challenges in the Toronto region.
Green Power Action, a Toronto-based company, specializes in the management of carbon offset credits and renewable energy certificates.
Further information is found on Greening Greater Toronto's website and on newswire.ca.