CRA International Market News – Canada

Toronto, Ontario – The federal government announced a new fund on Thursday with the goal of curbing emissions, with a large part of the cash coming from a fine paid by Volkswagen in January.

The $206 million “Climate Action and Awareness Fund” will be used to support climate science and research on top of an additional three-year $50 million investment toward the same effort.

“The new Climate Action and Awareness Fund will create jobs for Canadians in science and technology, academia, and at the grassroots community level,” said Johnathan Wilkinson, minister of environment and climate change.

The fine levelled against Volkswagon AG in January totalled $196.5 million after the company pleaded guilty to dozens of diesel emissions violations in what was the largest environmental fine issued in Canadian history.

Credit to Collision Repair Magazine.