Minutes Confirmed on April 21, 2017

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

Welcome and Introductions by the Chair of the Board of Directors of the Toronto Atmospheric Fund.

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

The Chief Executive Officer gave an overview of the report (January 26, 2017) from the Chief Executive Officer, Toronto Atmospheric Fund.

This report provides an update on Toronto Atmospheric Fund initiatives with regard to Governance and Organizational Matters and Strategic Programs.

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

The attached report documents outcomes of Toronto Atmospheric Fund's work on the 2016 Business Plan, and reflects on challenges lessons learned.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved Toronto Atmospheric Fund's 2017 Business Plan.

The Chief Executive Officer gave an overview of the 2017 Business Plan.

A draft 2017 Business Plan is attached for Board consideration and approval.

The projects and activities are guided by the Strategic Directions for 2015-2020 approved by the Board of Directors of the Toronto Atmospheric Fund, including: continued priority on energy efficiency of buildings and mobilizing financial capital for low-carbon solutions; increased investment in charting a course to achieving the City's ambitious 80 percent greenhouse gas (GHG) reduction target by 2050; enhanced attention to community engagement, recognizing that Toronto Atmospheric Fund's carbon-reduction mandate can be more compelling when aligned with other priorities and co-benefits such as health, mobility and economic opportunity; and consideration of Toronto Atmospheric Fund's role in supporting regional initiatives that advance the mandate.

This year, Toronto Atmospheric Fund is expanding its reach regionally, building on our track record of partnerships, innovation, and strategic capacity to make the most of this pivotal moment of federal, provincial and municipal alignment on climate action.

The proposed 2017 Business Plan spans seven projects, specifically:

1.  Accelerating Energy Efficiency in the built environment, while demonstrating the multiple benefits through TowerWise and Building Value programs. Research, monitor, and provide strategic recommendations on climate policy developments at all levels of government. 

2.  Electrification, starting with demonstrating opportunities to power end-uses such as heating and transportation with low-carbon electricity instead of fossil fuels, and exploring the policy context for utilities to play a more strategic role.

3.  Mobilizing Capital by deploying the new endowment, demonstrating the financial and carbon-positive impact of Toronto Atmospheric Fund's investments, and developing innovative financing tools to address market barriers.

4.  TransformTO will continue to engage the community, experts, and stakeholders in creating excellent decision-support information to guide development of a carbon reduction strategy to achieve the City of Toronto's 2020 and 2050 greenhouse gas reduction targets.

5.  Mobilizing Community Innovation and Action including cultivating high-impact grants across Toronto and Toronto Atmospheric Fund's new region and engaging diverse partners.

6.  Modal Shift initiatives will focus on microtransit and reinforcing the importance of transit investment to reduce regional greenhouse gas emissions.

7.  Operational Excellence in the areas of governance, management, operations, communications and fundraising.

The Board of Directors of the Toronto Atmospheric Fund received the presentations for information.

Franz Hartmann, Executive Director, Toronto Environmental Alliance, and Dusha Sritharan, Climate Change Campaigner, Toronto Environmental Alliance gave a presentation on "Want to Build a Low Carbon Toronto? Don't Lead with Climate Change".

Joe Greenwood, Program Director, MaRS Data Catalyst, and Sasha Sud, Senior Manager, MaRS Data Catalyst gave a presentation on "The Future of Shared Mobility".

Franz Hartmann, Executive Director, Toronto Environmental Alliance, and Dusha Sritharan, Climate Change Campaigner, Toronto Environmental Alliance will give a presentation on "Want to Build a Low Carbon Toronto? Don't Lead with Climate Change".

Joe Greenwood, Program Director, MaRS Data Catalyst, and Sasha Sud, Senior Manager, MaRS Data Catalyst will give a presentation on "The Future of Shared Mobility".

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

The draft financial results for 2016 are compared to Toronto Atmospheric Fund's approved 2016 budget, with commentary on the full year's results, which are subject to audit.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Appointed Councillor John Campbell to the Investment Committee until his successor is appointed.

This report recommends appointment of a Councillor to the Investment Committee.

The Board of Directors of the Toronto Atmospheric Fund received the item for information.

Minutes of the Grants and Programs Committee meeting held on January 11, 2017 for information.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved an internal project allocation of up to $125,000 over nine to twelve months for temporary funding of a Sustainability Financing Program Manager position at the City of Toronto and associated development and dissemination costs.

The Toronto Atmospheric Fund Grants and Programs Committee met on January 11, 2017 and recommended that the Board approve one internal project allocation with a value of up to $125,000.  This may be reduced pending approval of the City's Operating Budget.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved the revised Terms of Reference for the Grants and Programs Committee.

The Terms of Reference governing the Grants and Programs Committee have been reviewed and updated to comply with new requirements outlined in the Ontario Transfer Payment Agreement (TPA). A draft is attached with proposed changes.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Appointed Andrew Dooner and Lucy Casacia to the Grants and Programs Committee.

2.  Appointed Councillor Mike Layton to the Grants and Programs Committee.

The individuals recommended for appointment to Toronto Atmospheric Fund's Grants and Programs Committee would bring valuable expertise aligned with Toronto Atmospheric Fund's grantmaking and program priorities.  Appointment of a Councillor to the Grants and Programs Committee is required in keeping the Toronto Atmospheric Fund's By-Laws.

The Board of Directors of the Toronto Atmospheric Fund:

1.  Appointed Councillor Stephen Holyday as Board Secretary until his successor is appointed.

This report recommends appointment of Toronto Atmospheric Fund's Board Secretary.

Also Present - Non-Members:

Julia Langer, Chief Executive Officer, Toronto Atmospheric Fund
Ian Klesmer, Grants Program Manager,

Julie Leach, Communications Manager, Toronto Atmospheric Fund

Mary Pickering, Vice President, Programs and Partnerships, Toronto Atmospheric Fund
Bryan Purcell, Director, Policy and Programs, Toronto Atmospheric Fund

Richard Rysak, Director, Finance, Toronto Atmospheric Fund

Tim Stoate, Vice President, Impact Investing, Toronto Atmospheric Fund

Cliff Goldfarb, Solicitor, Gardiner Roberts LLP

Edgar Hielema, Partner, Gardiner Roberts LLP