Item - 2026.TA16.12

The Chief Executive Officer, Toronto Atmospheric Fund recommends that the Board of Directors of the Toronto Atmospheric Fund:

1. Adopt the revised Procurement Policy attached as Attachment 1, replacing the Procurement Policy adopted by the Board on February 12, 2024.

This report recommends adoption of a revised Procurement Policy for The Atmospheric Fund (TAF). The proposed amendments build on Toronto Atmospheric Fund's existing procurement framework by incorporating operational experience gained since implementation, strengthening governance and oversight provisions, improving alignment with current broader public sector procurement practices, and establishing a clearer distinction between Board-approved policy and administrative procurement procedures.

There are no direct financial implications associated with the adoption of the revised Procurement Policy. While the Policy establishes the framework governing how goods and services are procured, all procurement expenditures will continue to be subject to approved budgets, delegated authorities, and applicable approval requirements.