Item - 2023.TA1.3

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved Toronto Atmospheric Fund’s 2023 Annual Plan as set out in Attachment 1 to the report (January 27, 2023) from the Vice President, Strategy and Partnerships, Toronto Atmospheric Fund.

The 2023 Annual Plan is presented for Board consideration and approval. The plan is guided by Toronto Atmospheric Fund’s Strategic Directions and Theory of Change, and benefits from analysis of the successes and challenges experienced in our past work. It sets out four priorities for the year which “follow the carbon”: accelerating deep retrofits, accelerating uptake of EVs, advancing net-zero ready new construction, and accelerating net-zero electricity. Longer-range objectives and specific annual targets are established for each of these, supported by activities from Toronto Atmospheric Fund’s functional teams. A multi-solving approach will be taken to all activities, recognizing that designing climate action to achieve social, financial and environmental objectives makes for more robust outcomes and helps prevent worsening inequities.