There Has Never Been a Better Time for Companies to Move Forward with Green Projects
From a government incentive perspective, there has never been a better time for companies to move forward with green projects. Last year’s Glasgow Climate Pact at the UN Climate Change Conference (COP26) resulted in an agreement to further cut greenhouse gas (GHG) emissions by 2030. The increased emphasis by governments to decrease GHG emissions has also led to financial institutions, and investors seeking to accelerate action on climate change. This growing global effort is placing increased weight on businesses to decrease emissions and energy use.
Despite these efforts, many Canadian business are hesitant to invest in green projects. RBC Economics reported in August 2021 [i] that one of the obstacles facing businesses are the unsupportable economics of many green projects. They simply do not generate enough financial return in the short to medium term to justify the investment.
One way to overcome this challenge is with the use of government grants and financial incentives. A government grant or cheaper source of funding can lead to a positive return on investment quicker.
There is no time like the present. Now is the best time to explore the use of government incentives. The federal and provincial governments are responding to these challenges by offering an array of grants and financial programs to make investing in emissions reduction projects and technologies more attractive.
The Federal government has a number of programs to assist including:
In addition, Provinces and Territories also provide incentives, ranging from business retrofit energy rebates to funding the development of new clean technology that reduces waste and the impact on the environment.
The GrantMatch Team Can help you secure Green Incentives
You can learn more about green grant and financial incentive programs that may be available to your business by contacting GrantMatch, Canada’s leader in securing government funding. Contact us at info@grantmatch.com for more information.
[i] Colin Guldiman, “Why isn’t Canada investing enough in green projects, despite ambitious targets?” RBC Economics, Current Analysis, August 16, 2021
