Grant News

The global push toward sustainable economic growth and environmental protection has led countries to introduce robust financial policies and programs. Two significant initiatives are Canada's Growth Fund (CGF) and the United States' Inflation Reduction Act (IRA). Both aim to boost economic development and address climate change, but they do so in different ways and with distinct scopes.

The Tourism Growth Program (TGP) is a key element of the new Federal Tourism Growth
Strategy, which builds on Canada’s inherent strengths and unique qualities while using a whole-of-government approach to realize the full potential of the tourism industry. The program will support Indigenous and non-Indigenous communities, small and medium-sized businesses
and not-for-profit organizations in developing local, community-level tourism products and
experiences to help more domestic and international visitors discover all that Canada has to
offer. The TGP will fund projects that provide added value to existing activities in the tourism
industry and focus on business and economic growth. Indigenous tourism is a priority under
the TGP, and approximately 15% of TGP funding will support Indigenous-led tourism initiatives.

To attract visitors and see the number of tourists increase to pre-COVID levels, the Canadian government has decided to act. One of the initiatives implemented is the Tourism Growth Program. This ambitious program aims to boost the dynamism of the country’s tourism sector and launch its potential as a key driver of economic prosperity and job creation. Canada’s regional development agencies[1] will deliver this program as they have the mandate to promote regional economic development across all regions of Canada.

[1] https://ised-isde.canada.ca/site/canadian-tourism-sector/en/tourism-growth-program

At a time when environmental awareness and sustainable practices are at the forefront, and as Canada strives to meet its greenhouse gas reduction target outlined in the 2030 Emissions Reduction Plan[1], the Government of Canada has embarked on a revolutionary journey towards a greener, more sustainable maritime future. The Green Shipping Corridor Program[2], from Transport Canada, aims to revolutionize the country's marine industry. The Fund reflects a commitment to reduce the environmental footprint of marine transportation while promoting economic growth.

Canada has long been committed to environmental sustainability and the reduction of greenhouse gas (GHG) emissions. In line with these goals, the Federation of Canadian Municipalities (FCM) launched the Green Municipal Fund (GMF) in 2000 to help municipalities in the development of thriving communities that benefit people and the environment. Over the past two decades, the GMF has provided funding and support to municipalities across the country, driving innovative projects that address environmental challenges and promote sustainable development.