Provincial updates: Climate Plan for B.C.; Ontario issues Green Bonds

In British Columbia:   On February 2, with a provincial election approaching in the Spring, the Leader of the B.C. New Democratic Party announced  a new Clean Growth Climate Action plan , based on  “The core principle that we must mitigate financial impacts of the federal government’s carbon pricing increases on low and middle income families, which the Plan proposes to provide relief for 80% of B.C. families.” … After family rebates are paid, the plan proposes to “invest the remaining carbon tax revenues in good jobs building public transit, expanding clean and green technology industries, and building energy efficient construction in every B.C. community.”  A complete summary, along with reaction from environmental experts, appears in “BC NDP climate plan ‘shows real action,’ say environmentalists”  in the National Observer (Feb. 3).   Reaction from the Pembina Institute  : “We are pleased to see the commitment to implementing the recommendations of the Premier’s Climate Leadership Team…  — in particular, the pledge to adopt the proposed 2030 target and sector-by-sector targets for emissions. ”

In Ontario: On February 3,  Ontario announced  the success of  an $800 million green bond issue with a maturity date of January 27, 2023.   This is the third issue of Green Bonds by the province- the first, in 2014, financed the Eglinton Crosstown LRT; proceeds from the third issue will go “to help build clean transportation and environmentally friendly infrastructure projects in communities across the province.” For an overview of the province’s Green Bond program, see  the Ministry of Finance website.  Annual newsletters summarize progress and provide details of the first two issues:  2015 edition and the 2016 newsletter  released in December 2016.

Ontario also announced tweaks to the payment caps of  its Electric Vehicle Incentive program on February 1, and pledged to continue annual reviews of the program (next in Fall 2017). The EVIP provides incentives of $6,000 to $14,000 to support the purchase or lease of eligible battery-electric and plug-in hybrid electric vehicles. The Electric Vehicle Charging Incentive Program provides up to an additional $1,000 to EVIP recipients toward the purchase and installation of fast-charging equipment for the home or workplace.

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