May 15, 2023 Toronto, Ontario Natural Resources Canada
Our homes and buildings play an important role in our well-being, our economy and as a place to gather. At the same time, this sector is the third largest contributor of greenhouse gas emissions (GHG) in Canada. By investing in greener solutions, the Government of Canada, and the Federation of Canadian Municipalities (FCM) are unlocking more sustainable and resilient places for people to live and work.
Today, Julie Dabrusin, Parliamentary Secretary to the Minister of Natural Resources and to the Minister of Environment and Climate Change, on behalf of the Honourable Jonathan Wilkinson, Minister of Natural Resources, and Scott Pearce, Acting President of FCM, announced an investment of $13,507,270 for the City of Toronto's Taking Action on Tower Renewal (TATR) program.
Toronto is home to more than 500,000 residents that live in apartment towers and the TATR program will support eligible property owners of older high-rise towers in Neighbourhood Improvement Areas to complete energy efficiency upgrades. These upgrades, which will include retrofits such as new windows, replacing home appliances and reinsulating roofs, walls and doors, will help reduce emissions while supporting unit affordability and improving tenant comfort.
Once completed, the upgraded towers will see energy use reduced by 15 per cent, natural gas use reduced by nearly a quarter, provide annual operating and maintenance cost savings of over $1.3 million and reduce GHG emissions by almost 2.5 million kg/year. It aligns with the City of Toronto's climate action strategy, which aims to reduce the city's emissions to net zero by 2040.
The funding announced today includes $11,745,460 in loans and $1,761,810 in grants through the Federation of Canadian Municipalities' Green Municipal Fund (GMF). The Government of Canada has invested $1.65 billion in GMF since its inception, empowering municipalities to develop projects that leverage local resources to drive innovative solutions. These projects help transform markets and reduce costs to meet the goal of net zero by 2050. They also build on the GMF's record of supporting transformative environmental initiatives at the community level for two decades.
Funding coming from the GMF's core funding stream provides an avenue to support municipalities in navigating around capital and capacity barriers they may face as they strive to improve the quality of life in their communities. In 2021, 74 projects were supported through the core funding stream of GMF, with $104.4 million in new funding allocated.
By supporting projects like the one announced today, GMF is not only reducing energy needs but also helping make housing costs more manageable for families across the country.
