On November 8, 2018, Environment Minister Catherine McKenna gave a speech at an insulation factory in Milton, Ontario. She stated that the federal government would take back the unused $420 million that was originally put into Ontario Low Carbon Economy Fund. The minister said that the money would be pumped into hospitals, educational institutions, and businesses to support eco-friendly operations.
The original Low Carbon Economy Fund that was given to Toronto held a value of $2 billion. This initiative was installed as a pillar to show Canada’s support for the Paris Agreement that Canada had ratified on April 22, 2016, along with 174 other countries. On November 4, 2016, it became effective. Ever since, many have said Canada has taken a stronger and more fierce stance against the rising issue of climate change.
Premiers have recently taken a stance in lowering or completely eradicating the “carbon tax” due to public outcry. As a result, the federal government has said that it will impose one if the provincial government does not do so.
Source: CTV News