Greening Canada Fund Endorses Plan to Enhance Toronto's Competitiveness in
Financial Services

    
    Calls on Government to work with Financial Services Sector to Make
    Toronto a Leading Centre for Environmental Finance
    

TORONTO , Nov. 23 /CNW/ - Toronto can become a leading North American carbon economic hub according to the Greening Canada Fund. In endorsing a new report by the Boston Consulting Group prepared for the Toronto Financial Services Working Group, the Greening Canada Fund today called on government to work with business to take immediate action to establish Toronto as a carbon hub in advance of new regulations.

"We endorse the plan, Partnership and Action: Mobilizing Toronto's Financial Sector for Global Advantage, and we are calling on leaders from all levels of government and the financial services sector to take immediate action to establish Toronto as a true North American leader in a key emerging sector of the economy," said Gerry Rocchi , CEO of Green Power Action Inc. and manager of the Greening Canada Fund. "The carbon market is just in its infancy. Toronto has a once-in-a-lifetime opportunity to seize opportunities in the carbon value chain. The Toronto Stock Exchange and TSX Venture Exchange are home to the highest number of cleantech companies in the world - with more than 120 cleantech and renewable power companies listed. That number should grow exponentially over the next five years."

The Greening Canada Fund is the first-ever voluntary carbon emissions reduction fund aimed exclusively at large Canadian corporations. The Fund will purchase carbon offset credits from green projects across Canada , creating green jobs and supporting green technologies nationally. The Greening Canada Fund will be managed by Green Power Action Inc. Today, the Fund announced that BMO Financial Group and TD Bank Financial Group have committed to an initial $13 million investment as they move towards becoming the first large "carbon neutral" corporations in Canada .

The Greening Canada Fund is part of the Toronto City Summit Alliance's Greening Greater Toronto initiative aimed at making the Greater Toronto Area the greenest city region in North America . Securities of the Greening Canada Fund will be offered to selected investors only by means of a complete offering memorandum, which contains significant additional information about the terms of an investment in the Fund. Securities of the Fund are not registered with any regulatory authority, are offered pursuant to exemptions from such registration, and are subject to significant restrictions on transfer.

About Green Power Action Inc.:

Green Power Action, a Toronto based company, specializes in the management of carbon offset credits and renewable energy certificates. Its clients are corporations who are aware of the value of managing their carbon exposure, whether for voluntary or compliance purposes. Green Power Action is the manager of the Greening Canada Fund. For more information on Green Power Action, visit www.greenpoweraction.com or contact [email protected] or [phone].

For further information: Media Contact: Gerry Rocchi, President & CEO, Green Power Action Inc., [email protected], [phone]