Community Futures Peterborough Launches New Green Funding Program
PETERBOROUGH, ON – April 22, 2024 – A new loan fund to encourage businesses to reduce their carbon footprint is being launched in our community. Community Futures Peterborough (CFP) unveiled its Climate Change and Environment Fund at an Earth Day event this morning.
“Like many organizations and leaders in the community, we want to be a part of helping fight climate change and encourage green investment in the Peterborough area,” says Devon Girard, Executive Director of Community Futures Peterborough. “Launching this new lending program is one way we can play a role in supporting existing businesses while also trying to attract new green companies to the region.”
The Climate Change and Environment Fund will be open to any business or attracted business in the City or County of Peterborough to finance a project that would reduce carbon emissions or waste. Considerations of these projects could be energy-efficient upgrades (including capital upgrades) to reduce energy bills, renewable energy improvements, or considerations of circular economies including localizing supply chains or buying reusable bins. Under this fund, CFP will lend money at prime rate, up to $100,000 per project.
“The new Climate Change and Environment Fund will support businesses in the Peterborough area as they adopt more environmentally-friendly practices and build a greener Canada. Our Government is pleased to support the Community Futures Development Corporations, like Community Futures Peterborough, as they help pave the way for economic growth and green solutions in southern Ontario’s rural communities,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
The launch of the Climate Change and Environment Fund was held at Charlotte Products, a Peterborough-based company that has been investing in environmentally friendly cleaning products since 1994. The company also significantly reduced carbon emissions by investing in the creation of its local manufacturing facilities instead of sourcing from the United States and globally.
“On behalf of the Charlotte Products team, we are honoured to host this exciting launch of the Climate Change and Environment Fund by Community Futures Peterborough”, says Matt Strano, CEO of Charlotte Products. “Sustainability is a primary concern for numerous businesses in our community, and initiatives like this fund will further bolster and reinforce their ongoing efforts.”
“The climate crisis is bringing a variety of increased financial pressures to our businesses including supply chain disruption, and the rising costs of both shipping and natural gas,” says Tegan Moss, Executive Director of GreenUP. “The Climate Change and Environment Fund is an opportunity for businesses to invest now in solutions that can help their businesses manage these costs while being a part of the solution. Imagine the possibilities: energy-efficient upgrades, renewable energy installations, circular economy initiatives – all aimed at reducing emissions, lowering costs, and enhancing the brand image of our businesses.”
In addition to supporting green upgrades to existing businesses, the Climate Change and Environment Fund will support efforts to attract new investment to our area. “Every community is looking for ways to increase their competitive edge to attract companies and industry to the region,” says Rhonda Keenan, President and CEO of Peterborough & the Kawarthas Economic Development. “CFP’s Climate Change and Environment Fund will provide one more competitive advantage for doing business in the Greater Peterborough Area. Peterborough & the Kawarthas Economic Development looks forward to promoting this tool to industry and businesses that we are trying to attract to this region.”
On hand for today’s announcement were local dignitaries including City of Peterborough Mayor Jeff Leal and Peterborough County Warden Bonnie Clark, both of whom showcased their support for this new program.
“The Climate Change and Environment Fund will help local businesses reduce their carbon footprint, lower costs, and promote innovation and sustainability in the Peterborough region,” said Mayor Jeff Leal. “I want to thank Community Futures Peterborough for their environmental leadership and support for our local economy.”
“As we celebrate Earth Day, I am proud that Community Futures Peterborough is introducing its Climate Change and Environment Fund. Local businesses can join the movement to “go green” with new projects supported by this fund”, says Bonnie Clark, Warden of Peterborough County. “Investing in sustainability is all about securing our future prosperity. By helping our businesses become more sustainable, we plant the seeds for a more resilient economy and environment. I am looking forward to seeing the innovation of our business community as they heed the call to build a greener Peterborough County and City! Thank you to Community Futures Peterborough and FedDev Ontario for this exciting initiative. Happy Earth Day!”
More information on the Climate Change and Environment Fund can be found on the Community Futures Peterborough website.
About Community Futures Peterborough
Community Futures Peterborough has a mission to support small businesses with flexible financing in the City and County of Peterborough. It has invested more than $42 million in 1,300+ small businesses since 1985, creating or maintaining more than 4,300 jobs in the City and the County. CFP is a not-for-profit organization funded by the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), as part of the Community Futures Program.
About FedDev Ontario
For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
Media Contact:
Devon Girard, Executive Director
devon@cfpeterborough.ca
Mobile: 705-957-3641
Edward Hutchinson, Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
edward.hutchinson@feddevontario.gc.ca