Toronto, ON — Toronto City Council has increased the incentives for new buildings to meet the higher tiers of the Toronto Green Standard (TGS). Tier 2 refund incentives have risen more than 25 per cent, while Tier 3 incentives have increased more than 50 per cent.
The TGS has been Toronto’s sustainable design and performance requirement for new private and city-owned developments since 2010. The adoption of the Net Zero by 2040 Climate Strategy accelerated the TGS implementation dates for the Greenhouse Gas Emission limits to 2025 and 2028 so that buildings constructed on or after 2030 are near zero emissions.
Financial incentives are funded through the Development Charge Refund Program, and projects can receive refund incentives if they have demonstrated higher levels of sustainable design beyond Tier 1 (which is the standard). There are four tiers, and each has its own set of eligibility requirements and standards.
However, information has not been provided on when the increases will come into effect.