The Ontario government announced a historic $17 million investment February 25 to expand the Toronto Atmospheric Fund (TAF) endowment in the provincial Budget tabled the same day.
With 60% of Ontario’s GHG emissions originating in cities, the Ontario government said it was demonstrating its strategic commitment to advancing urban low-carbon solutions that are needed to achieve the province’s climate change targets.
There will be no change to the mandate of the original endowment provided by the City of Toronto or the financial accountabilities to Toronto City Council. TAF, the City and the Province will work together to structure and establish terms for a new fund.