The CCEMC Awards $71 Million to Clean and Green Projects

The Climate Change and Emissions Management (CCEMC) Corporation, which administers Alberta's Climate Change and Emissions Management Fund, has announced it will invest approximately $71 million dollars in sixteen projects in the areas of greening energy production, carbon capture and storage and energy conservation and energy efficiency.

The Fund, which currently sits at about $185 million dollars, is one compliance option for the 100 or so specified emitters in Alberta to comply with the province's emissions reduction legislation, the Climate Change and Emissions Management Act and its associated regulations. Monies from the Fund, which may only be used for the purposes described in the Act, are granted to the CCEMC, which is an arm's length organization, independent from government. The CCEMC is leveraging the dollars from the Fund with the proponent organization's own and other sources of funding to fund new technologies which reduce emissions of specified gases or improve the ability to adapt to climate change.

Alberta is currently the only jurisdiction in North America which requires emitters to reduce their carbon emissions below a specified threshold and the Fund is an important component of Alberta's overall climate change strategy. The projects will be announced by CCEMC Chair Eric Newell on June 16 in Edmonton. The announcements are the next step in the process begun in 2009 with the CCEMC's 2009 Call for Proposals: Initial Expression of Interest Stage. Project proponents will be required to enter into agreements with the CCEMC and, as Chair Eric Newell asserts, those projects will "have project milestones; we want to see results".

The announcement of funding is significant for the CCEMC and for Alberta. It is the first time that the monies from the Fund are being allocated. If successful, the projects will create a direct link between the Fund as a compliance option and the reduction of emissions in Alberta.

We will be present for the public annoucement of projects on June 16th. Stay tuned.

Tagged as: clean technology (clean tech), climate change, Climate Change and Emissions Management Corporation, Climate Change and Emissions Management Fund