Striving for net zero by 2050 demands a radical departure from the status quo. While local governments are at the forefront of this movement, they cannot do it alone. The Federation of Canadian Municipalities' Green Municipal Fund (GMF) stands shoulder to shoulder with Canadian communities, recognizing and embracing their vision, dedication, and ingenuity in driving impactful climate action.

On September 9, GMF released its 24^th annual report for the fiscal year of 2023-24. With nearly $200 million in funding invested in projects and the launch of over $820 million in new funding through the Local Leadership for Climate Adaptation and Growing Canada's Community Canopies initiatives, the 2023-24 fiscal year was GMF's most impactful to date.

GMF is dedicated to empowering transformation through a range of funding options that support local initiatives. This proactive approach enhances local expertise and capacity for successful projects, enabling municipalities to swiftly demonstrate and scale up new concepts within their communities. These successful initiatives can then be replicated in other areas for widespread impact.

In the spring, GMF announced two new funding agreements with the Government of Canada; the Local Leadership for Climate Adaptation and Growing Canada's Community Canopies. Together, these new investments will allow municipalities to move forward with climate solutions and adaptations to make the lives of Canadians more sustainable and affordable.

Other key highlights include:

• Developing a wide range of partnerships, including with governments, businesses, and community organizations, to leverage resources, and expertise to amplify municipalities' ability to fight against climate change.
• Introducing a new measurement framework for Reconciliation and anti-racism, equity and inclusion along with setting annual targets for staff, governance and programming to ensure equitable outcomes.
• GMF's Sustainable Affordable Housing initiative allocated over $35 million to support the planning and development of more affordable, and energy-efficient housing units across Canada.
• Expanding GMF's Community Efficiency Financing initiative to allow energy-efficient retrofits across Canada, including in Newfoundland and Labrador, a province with the highest rate of energy poverty. Approved $38 million in funding approved for 19 projects.

To read the full version, please visit the 2023-2024 GMF Annual Report.