Vernon endorses climate action revolving fund policy and projects

Vernon endorses climate action revolving fund policy and projects

Revolving fund would support projects that provide measurable savings

The City of Vernon has developed a Climate Action Revolving Fund Policy to guide the use of the City’s carbon tax reserve funds to provide direct benefits to Vernon through greenhouse gas (GHG) emissions reduction, taxpayer cost savings and reinvestment for further emissions reduction.

The revolving fund would support projects that provide measurable savings, generate additional emissions reduction opportunities and engage corporate and community members with tangible financial incentives. The fund would provide benefits beyond one time investments, enhancing the City’s leadership in sustainable initiatives and directly providing taxpayer savings through climate action initiatives.

As part of Council’s review of the policy, two projects have received support from the Climate Action Revolving Fund: an organics diversion pilot program and a corporate electric bicycle fleet program.

Related: B.C. claims flexibility on national carbon price accord

These initiatives form part of the City of Vernon’s ongoing commitment towards the British Columbia Climate Action Charter to explore opportunities to lower GHG emissions and take action to demonstrate leadership on sustainable development.

“Council is pleased to announce that the City of Vernon has been awarded Level 3 recognition – ‘Accelerating Progress on Charter Commitments’ by the joint Provincial – UBCM Green Communities Committee as part of the Climate Action Recognition Program,” said Mayor Akbal Mund.

This distinction recognizes local governments that has demonstrated progress on Climate Action Charter commitments, measured and reported greenhouse gas emissions, and shown corporate and community-wide actions to reduce GHG emissions.

For more information regarding the City of Vernon’s climate action initiatives, visit www.vernon.ca. For additional details regarding the Climate Action Revolving Fund, please contact Jing Niu, Environmental Planning Assistant at 250-550-3243.


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