Climate Change and Emissions Management FundUnder the Specified Gas Emitters Regulation, regulated entities have the option of paying into the Climate Change and Emissions Management Fund. Companies can pay $15 for every tonne that they are over their reduction target. The money will be put into the Climate Change and Emissions Management Fund, which will be directed to strategic projects or technology aimed at reducing greenhouse gas emissions in the province of Alberta. The Alberta government will determine a process for how the fund is allocated to projects that qualify. It is not a holding account for companies to deposit money they could later withdraw. The CCEMC operates at arms length from the government. The mission of the CCEMC is to reduce greenhouse gas emissions by investing in climate change knowledge, technology development and operational deployment. For more information on the corporation and initiatives, visit http://ccemc.ca.
UPDATE! Click here for full News Release May 6, 2009 - Chair named to manage provincial climate change fund. Money will support low-carbon technology to reduce emissions. Edmonton - Eric Newell will chair Alberta's new Climate Change and Emissions Management Corporation, an arms-length organization independent from government that will manage Alberta's climate change fund. The corporation will invest money collected from industry into initiatives and projects that support technologies to reduce greenhouse gas emissions and improve the ability to adapt to climate change... The corporation will administer the fund, which includes soliciting and reviewing project submissions and making investment decisions. It is expected the corporation will begin accepting funding proposals in the second half of fiscal 2009/10.
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