Toronto Atmospheric Fund
Toronto Atmospheric Fund (TAF) is a city of Toronto non-profit agency that funds, supports and promotes initiatives for improving air quality and reducing greenhouse gas emissions across the GTHA.[1]
History
Governed by the 2005 Toronto Atmospheric Fund Act[2] the TAF was founded in 1992 when the city gave an initial endowment of $23 million. In 2016 it was given $17 million by the Provincial government, and in 2020 it was given $40 million by the Federal government.
Its first financing project was begun in 1993, when it lent the city $15.3 million dollars to upgrade street and lane lighting, saving the city over $2 million dollars a year and achieving its stated objective to reduce carbon emissions.
Governance
The Agency is accountable to the City of Toronto by way of its Board of Directors, much like other City agencies like the Toronto Zoo or the Toronto Parking Authority. The Board consists of 11 members appointed by City Council, eight appointed by the City's Public Appointments Process and three City Council Members. City Council appoints the Board Chair and the Board itself elects its Vice-Chair from among its membership.[3]
Current Funding Priorities
The Atmospheric Fund focuses on funding and financing projects that are proven to significantly reduce greenhouse gas emissions. Current programs focus on: retrofitting older buildings with upgraded technologies in order to improve their operational efficiency and save both money and reduce climate impact, heat pumps as a way to reduce energy consumption[4][5], cleaner forms of transportation like electric vehicles (EV).
References
- ↑ "Toronto Atmospheric Fund". City of Toronto. 2017-08-25. Retrieved 2022-04-28.
- ↑ "Law Document English View". Ontario.ca. 2014-07-24. Retrieved 2022-04-28.
- ↑ "Toronto Atmospheric Fund Relationship Framework with the City of Toronto May 2013" (PDF).
- ↑ "Heat Pumps". taf.ca. Retrieved 2022-04-28.
- ↑ July 19th 2021, Cloe Logan | News | (2021-07-19). "Apartments and condos are becoming too hot to live in. How can we fix them?". Canada's National Observer. Retrieved 2022-04-28.
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