As part of the City's climate action commitments and as directed by Council in 2013, the City established a dedicated Carbon Reserve Fund with funds set aside annually for emissions reduction projects.
The fund is intended to fulfill the spirit of the City's commitment to the provincial Climate Action Charter, by setting aside the equivalent dollar amount the City would otherwise be using to purchase carbon offsets under the Charter. An internal carbon fund ensures that the spirit of carbon neutrality is met (measuring, reducing and accounting for emissions) while also ensuring that local taxpayer funds are directed entirely towards projects and programs within the City of North Vancouver.
The City's Carbon Fund includes an annual contribution equivalent to a minimum of $25 per tonne of the City's corporate GHG emissions from the previous year. For example, based on City corporate emissions of approximately 2500 tonnes per year, this contribution is about $62,500 annually.
This contribution is supplemented with funding from other sources, including the City's Climate Action Revenue Incentive Program (CARIP) grant from the Province.
Through the implementation of a Carbon Fund, the City is realizing the following benefits:
- No administrative overhead costs associated with formal verification projects (as would be required to qualify for formal carbon credits); and
- Dedicated funding in the community to support local greenhouse gas reduction projects.
The Carbon Fund supports the City's continued climate action commitment and ensures committed funding for local carbon reduction projects. The fund contributes to local economic and social sustainability while achieving the environmental goals of reducing our community and corporation's contribution to global climate change.
Projects funded since the Carbon Fund was established in 2013 include:
Community Transportation Demand Management Program
This project encourages people to walk, bike, use transit and rideshare, while discouraging single occupancy vehicle use and unnecessary trips. Key programs include promotion of Bike to Work and Bike to School weeks, cycling events, school cycling courses, and TravelSmart workshops with schools and businesses. Learn more about the Community Transportation Demand Management Program.
MURB (Multi-unit Residential Building) Energy Retrofit Pilot Program
An energy retrofit program for existing market rental properties, offered in partnership with BC Hydro, Fortis BC, Landlord BC, and other Metro municipalities. The program provides energy assessments at no charge, supply and installation of water efficient showerheads and faucet aerators, and incentives for energy upgrades. Learn more about the MURB (Multi-unit Residential Building) Energy Retrofit Pilot Program.
Living City Street Tree Planting Program
This program was developed to support the implementation of the City's Street Tree Master Plan. The program provides funding to plant and maintain new street trees along key corridors in the City. Through planting these trees we are mitigating the effects of GHG emissions and improving local air quality while enhancing the pedestrian experience through shade provision and moderation of high temperatures in the summer. Learn more about the Living City Street Tree Planting Program.