Why this is important to Wisconsin businesses: The plan, which is expected to cost $8.3 billion over five years, creates many opportunities for Wisconsin companies.
Ontario’s Climate Change Action Plan is a five-year plan that will help the Canadian province fight climate change over the long term. The plan aims to provide up to $8.3 billion in subsidies and incentives to businesses and homeowners through a range of programs encouraging individuals and businesses to switch to more energy-efficient heating systems, choose electric or hybrid cars, convert trucks to natural gas, add bio-fuel to gasoline, and helping the agricultural and industrial sectors adapt to low-carbon technologies. The province is also set to commence a cap-and-trade program, which is dedicated to lowering the province’s carbon footprint, for industrial polluters starting in January 2017.
The new plan will create demand for innovative products and services in areas ranging from clean tech to design, from engineering to transportation, from manufacturing to construction and beyond. The province is targeting a 15 percent reduction from 1990 levels by 2020, a 37 percent reduction by 2030 and an 80 percent reduction by 2050. As Ontario looks to reduce emissions, there are opportunities for Wisconsin firms looking to help businesses and consumers use innovative technologies and practices, retrofit facilities and utilize energy-efficient equipment.