Item - 2024.TA5.13

The Board of Directors of the Toronto Atmospheric Fund:  

1. Approved the allocation of $946,000 to support Toronto Atmospheric Fund programs in 2024 as outlined below, to be funded from the Canada, Ontario, and Toronto endowments except where otherwise indicated: 

a.  Accelerate deployment of electric vehicles (EV) and charging: $14,000 to expand EV charging for multi-family building residents and vehicle for hire drivers;

b.  Decarbonizing Ontario’s electricity system: $94,000 support the region’s transition to a net-zero grid;

c.  Retrofit Accelerator: $265,000 to build the market for deep retrofits by collaborating with leading building operators and industry solutions providers to deliver deeper retrofits faster and more cost-effectively;

d.  Impact Investing: $100,000 to support investments in impact-first projects/companies, maintain management and compliance of the Toronto Atmospheric Fund’s investment portfolio, and enable prudent investment of at least $5 million;

e.  Climate Policy: $50,000 (from Canada and Toronto endowments only) to be an effective and influential advocate for urban climate policy with all three levels of government;

f.  Research and Innovation: $95,000 to deliver critical internal and community capacity needed to support effective design and delivery of Toronto Atmospheric Fund-funded initiatives;

g.  Communications and Campaigns: $36,000 to increase Toronto Atmospheric Funds’s overall audience reach while maintaining our high engagement levels towards all focus area priorities;

h.  Grants: $52,600 to build the internal and community capacity needed to support effective design and delivery of Toronto Atmospheric Fund-funded initiatives;

i.  Program Development: $25,000 to support new program and partnership development;

j.  Program Support: $144,800 to ensure resources for efficient and effective program implementation; and

k.  Emerging priorities: $69,600 to support emerging opportunities in 2024.

2. Approved an allocation of $100,000 from Toronto Atmospheric Fund’s 2024 grants budget to support potential co-granting opportunities with other Low Carbon Cities Canada centers during the year, with any unspent balance available for the Toronto Atmospheric Fund grants.

The Seniors Grant Manager, Toronto Atmospheric Fund, gave a verbal overview on Grants and Program Allocation Recommendations.

This report recommends the Toronto Atmospheric Fund’s internal program allocation request of $946,000 and grant budget allocation request of $100,000 for Board approval.