The Low Carbon Economy Fund was launched in June 2017, and is part of the Pan-Canadian Framework on Clean Growth for Climate Change. It seeks to "making homes and buildings more efficient; help companies innovate or use technologies to reduce their emissions; and support the forest and agriculture sectors to enhance stored carbon in forests and soils", by providing funding to projects submitted by provinces and territories, but also municipalities, Indigenous governments and organizations, businesses and both not-for-profit and for-profit organizations.
The fund has two components:
(i) C$1.4 billion will be allocated to support the leadership commitments from provinces and territories on their emission reduction priorities and the commitments they outlined in the Pan-Canadian Framework,
(ii) C$0.6 billion will be available for provinces and territories, municipalities, indigenous governments and organisations, businesses and both not-for-profit as well as for-profit organisations to undertake projects that reduce Canada’s GHGs and contribute to clean growth.