Financial incentives for SMEs energy-saving equipment and retrofits

Small and medium business owners have the opportunity to receive federal funding to improve the sustainability of operations and their bottom lines.

The federal government’s newly launched Climate Action Incentive Fund: Small- and Medium-sized Enterprises Project stream, covers new sustainability projects undertaken by businesses with fewer than 500 employees. Eligible projects range from retrofitting a fleet of trucks to use biodiesel, to purchasing energy-efficient industrial equipment upgrades, to adding solar and insulation to an office building. There is $72.4 million earmarked for Ontario.

“Small and medium-sized businesses have told me that they want to do their part to fight climate change but that they worry about the costs associated with cutting pollution. That’s why our government is helping small and medium-sized businesses invest in energy-efficient equipment that will not only cut their pollution but also increase their productivity. Canadians know that the environment and the economy go together, and we’re proud to help small business owners be part of the solution to climate change,” added MP Mary Ng, Minister of Small Business and Export Promotion.

Applications for funding are open until October 15, 2019, or until funding is exhausted.

ClimateWise Business Network is one of seven non-profit Green Economy Hubs across Ontario that support businesses with reducing their greenhouse gas emissions while becoming more economically competitive. Hubs provide tools, guidance, and a network of businesses to learn from so that any organization can take action on climate change and seize the business benefits of going green.

“Our members have been excited by the possibilities associated with this program,” says Harry French, Program Manager, ClimateWise Business Network. “The focus is on rapid implementation of energy-saving actions which have measured impact on GHG reductions. The fund will half the pay-back period on many projects.”

The Climate Action Incentive Fund will provide $20,000 – $250,000 to offset up to 25% of the cost of qualifying projects in Ontario, Saskatchewan, Manitoba, and New Brunswick. This first-come, first-served opportunity gives owners of small- and medium-sized businesses a unique chance to get paid to save money for their businesses while doing the right thing for our environment.

For businesses who want to take advantage of the opportunity to go green but don’t know how to get started, contact Harry French at 647-688-4922 or by email at [email protected].


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