Financing your green shift

Access to financing is at the heart of every project aimed at improving the environmental performance of a business. Here is a non-exhaustive list of assistance programs that are available to support you in your move toward ecoresponsibility.

Fonds Écoleader: Accelerating the action phase

Launched in 2019 by the Québec government, the Fonds Écoleader (Ecoleader fund) is coordinated by Fonds d’action québécois pour le développement durable (FAQDD – Québec action fund for sustainable development) in collaboration with the Centre québécois de développement durable (CQDD – Québec centre for sustainable development) and Écotech Québec. With a budget of $18.5 million, the fund helps businesses adopt ecoresponsible practices and clean technologies.

Business may be eligible for a grant of up to $40,000 for adopting ecoresponsible practices and $60,000 for projects involving the acquisition of clean technologies, up to a maximum of 75% of eligible expenses.

The Fonds Écoleader supports a wide range of projects, including ecological product design, energy efficiency, water management, sustainable mobility, circular economy, waste management and greenhouse gas management.

Note: The deadline for submitting a project is December 2022.

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A fund for industrial and sustainable development

The Fonds Développement industriel et durable (industrial and sustainable development fund) from PME MTL offers subsidies of up to $50,000, representing a maximum of 25% of the total cost of a project aimed at stimulating or accelerating the implementation of innovative practices that focus on sustainable development. Projects may involve the acquisition of clean technologies or technological equipment for robotization and automation of manufacturing processes, the launch of research and development projects, etc.

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Fonds économie circulaire for start-up businesses

This program, introduced by Fondaction, in partnership with Ville de Montréal and Recyc-Québec, is the first of its kind in Canada. The fund is intended to provide support for start-up businesses in the agri-food, recycling and resource recovery sectors, along with bio-construction that offers innovative solutions for the ecoresponsible use of resources. The objective is to promote dialogue between these young businesses and large corporations to accelerate the ecological transition.

Fondaction will invest between $250,000 and $2 million into eligible businesses in the form or equity or quasi-equity.

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Innovative solutions in circular economy

Esplanade Québec, an accelerator for impactful businesses, has established a partnership with Recyc-Québec to enable businesses to develop innovative solutions in the circular economy. Examples of targeted projects include reducing the consumption of resources, optimizing reuse and recycling, prioritizing ecological design and responsible purchasing, etc.

A first call for projects led to the formation of a cohort of ten businesses integrating the Collision program. This gave them access to customized coaching, workshops, networking and visibility among investors and key partners. The coaching helps them to structure their projects and validate their environmental impact.

Esplanade plans to launch more calls for projects for the Collision program.

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When doing less means more

Recyc-Québec is also collaborating with the La Ruche crowdfunding platform to introduce the Fonds Moins c’est + (Less is + fund), which is intended to support projects submitted by start-up businesses involved in crowdfunding campaigns with the organization that prioritize the reduction at source, reuse and prevention of waste.

Businesses are eligible for subsidies of up to $25,000.

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New program targeting cultural businesses

The Conseil des arts et des lettres du Québec and the Conseil des arts de Montréal, in collaboration with Culture Montréal, recently launched a new program to support ecoresponsible projects. The program has access to an envelope of $1 million to be distributed between now and 2025. The program will support projects involving ecoresponsible creation, production, promotion and/or dissemination, along with initiatives aimed at adopting practices that promote sustainable development. Financial assistance of up to $30,000 is available.

Cultural organizations located within the territory of the Island of Montréal have until July 11, 2022 to submit their projects.

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Compétivert: Improving your positioning within the green economy

The objective of this initiative from Investissement Québec is to encourage businesses to adopt clean technologies and ecoresponsible practices in order to increase their competitiveness.

Compétivert offers financing solutions and support for the successful implementation of projects aimed at improving energy efficiency, the electrification of transportation, carbon capture, new fuels, recycling and recovery of plastics and renewable energies.

The minimum level of financial assistance is $50,000, offered in the form of a term loan and loan guarantee.

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Measuring the carbon impact of artistic tours

The Conseil québécois des événements ecoresponsables (CQEER – Québec council of Ecoresponsible events) is conducting research to determine the environmental impact of performing arts tours (dance, theatre, humour, circuses, etc.). The CQEER is inviting cultural businesses and artists from a variety of disciplines to submit their applications to be part of a cohort. Participants will not receive financing, but they will have access to tools for measuring the environmental footprint of their tour and support for implementing initiatives aimed at reducing whatever is required to improve the management of waste, the selection of means of transportation, etc.

The CQEER is still seeking participants. The only requirements are that the tour must take place in Canada or internationally over more than three dates and at three different locations. The tour may already be completed, or it may take place by February 2023.

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