Bruce Power is launching a $1 million Carbon Offset Accelerator Fund. A media release said the fund will support carbon sequestration and offset projects in the Clean Energy Frontier Region of Bruce, Grey and Huron counties and throughout Ontario.
The Fund will be used to accelerate grassroots projects that will support the company’s goal of being Net Zero by 2027. Earlier this year, Bruce Power announced its goal to be a net zero emitting company by 2027 and aims to meet its target by implementing energy and emission-reduction projects in its operations, finding alternatives to high-emission energy sources and, where further reductions are not feasible, pursuing emission offsets.
Bruce Power reported the $1 million Accelerator Fund will be focused on funding projects identified through the Carbon Offset Coalition, along with a partnership Bruce Power has established with Bluesource, a leading North American offset developer, and other strategic alliances with a range of organizations. All funds will be allocated by March 31, 2022, marking one year since the company made its Net Zero by 2027 commitment.
“Bruce Power is committed to building on our role as a clean electricity generator that led the phase-out of coal-fired electricity in Ontario to now providing action to enable a Net Zero future,” said James Scongack, Chief Development Officer and Executive Vice-President Operational Services at Bruce Power. “That’s why we will be the first nuclear operator in North America to be Net Zero by 2027 and to enable both 2030 and 2050 climate goals for Ontario and Canada,”
"I congratulate Bruce Power for once again showing leadership and environmental stewardship with this announcement," said Huron-Bruce MPP Lisa Thompson. "This Carbon Offset Accelerator Fund is yet another example of how Bruce Power excels in innovation and dedication for a better tomorrow."
The fund will support projects including mitigating climate change by sequestering carbon, protecting our watershed, biodiversity and wildlife habitat and maintaining important wildlife corridors. Through its Net Zero partnership with the Nuclear Innovation Institute (NII), Bruce Power will also be funding the development of carbon-offset projects in our local communities through the Carbon Offset Coalition. To learn more about the Carbon Offset Coalition, or to submit a proposal, visit www.carbonoffsetcoalition.com .
“The Carbon Offset Accelerator Fund will be used to put a wide range of projects into action within the coming months by leveraging our Environment & Sustainability Program, Carbon Offset Coalition and the recently launched Bruce Power Net Zero entity,” said Scongack.