On October 20th, the City’s Standing Committee on Environmental Protection, Water and Waste Management approved investing the $2.6-million surplus from last year’s Hydro Ottawa dividend in Energy Evolution projects and to help the City leverage federal and provincial funding for climate change initiatives.
This investment is part of the final report for Energy Evolution, the City’s strategy to reduce greenhouse gas emissions. The report outlines 20 projects that would help the City achieve its emissions targets. The City would collaborate with the community to carry out these projects over the next five years.
The report also provides a model detailing the steps Ottawa will need to take if it is to meet Council’s reduction targets. The plan is to reduce emissions by 100 per cent by 2040 within the corporation of the City of Ottawa, and by 2050 Ottawa-wide. This will require collaboration and investments from all sectors and all levels of government. An estimated $57.4 billion will be required on top of planned investments, but the model projects that by 2050, those investments will generate a net return of $87.7 billion.
Recommendations from the Standing Committee on Environmental Protection, Water and Waste Management meeting requiring Council approval will rise to Council on Wednesday, October 28.