MONTREAL — The McConnell Foundation and Trottier Family Foundation are providing $12 million to fund decarbonization of major Canadian cities, Low Carbon Cities Canada (LC3) announced at the Montréal 2023 Climate Summit.
The investment will enable LC3 to accelerate its support for the implementation of innovative projects to reduce greenhouse gas emissions in Canada’s major cities, while providing equitable benefits in the areas of public health, the economy, affordability and community resilience at the local level, indicates a release.
The funding will help the two foundations carry out a variety of programs including:
- Community grantmaking to support climate solutions that advance social equity and/or reconciliation with Indigenous people, through a $5-million grant from the McConnell Foundation to LC3 Network urban communities;
- launching a new program to decarbonize multi-residential buildings in Montréal’s metropolitan community, thanks to a $5-million grant from the Trottier Family Foundation in support of the Greater Montréal Climate Fund; and
- accelerating building renovation in the Greater Toronto and Hamilton Area, thanks to a $2-million grant from the McConnell Foundation in support of the work of The Atmospheric Fund.
‘’Canadian cities have many levers to accelerate the adoption of urban climate solutions and generate benefits for urban Indigenous populations, new Canadians and low-income households,” said Lili-Anna Pereša, CEO of the McConnell Foundation, in a statement. “The LC3s’ financial model allows foundations to leverage both financial contributions and co-investment opportunities from the public and private sectors. We invite other foundations and investors to explore these various opportunities to partner with an LC3 centre and maximize positive impact for climate in urban communities.”