Ontario sets up C$650 mln fund to boost green cars
The premier of the Canadian province of Ontario, Dalton McGuinty, has unveiled a plan to provide investment funding of up to US$611 million toward developing cleaner cars, components and technologies to reduce greenhouse gas emissions. The Ontario government is hoping that the federal government will provide matching funds. With almost thirty-nine percent of the country's population Ontario consumes more energy than any other province and emits more greenhouse gases. The new investment fund will provide funds to companies that are developing cleaner technologies and creating new jobs in Ontario. The hope is to stimulate development of new more environmentally friendly technologies and the improve the economy at the same time. All of this is part of an effort to reach a target of eighty percent reduction in greenhouse gas emissions in the province by 2050 compared to 1990 levels.
[Source: Government of Ontario]
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