News Update: Ontario Green Bank Regulations Finalized
O. Reg. 46/17: Ontario Climate Change Solutions Deployment Corporation (OCCSDC) enters into force.
On February 17th, the Ontario government released the final regulations that will govern the Ontario Climate Change Solutions Deployment Corporation (OCCSDC), commonly referred to as the “Green Bank”.
These regulations—filed under the Development Corporations Act, R.S.O. 1990, c. D.10— establish the OCCSDC as a corporation with the objective to drive the deployment of “commercially available technology that reduces greenhouse gas emissions from buildings or from the production of goods” in Ontario. The OCCSDC is intended to support the Climate Change Mitigation and Low-carbon Economy Act, 2016 by “maximizing absolute greenhouse gas reduction”. It will do this by financing the adoption of emissions reduction or elimination strategies through building retrofits, fuel switching opportunities, energy storage capacity, and renewable energy options.
The OCCSDC is also intended to provide low-carbon information and provide services to help cleantech adoption. Its’ research activities will be focused on the “market barriers inhibiting the deployment of [low-carbon] technology and addressing those market barriers”, but will not include the research and development of technologies.
The OCCSDC is currently accepting applications for part-time positions as Board Chair, Board Vice-Chair and Board Members. Please visit the Public Appointments Secretariat for more information. The deadline to apply is March 8, 2017.