To help it reduce carbon emissions, the federal government is giving Loblaw Companies Limited $12 million to retrofit refrigeration systems in approximately 370 stores over the next three years.
The money will come from the government's Low Carbon Economy Fund, which is valued at $450 million and aims to "reduce carbon pollution, save money, and create good jobs in a clean economy," according to a press release. The government says the funding will help Canada's largest grocer reduce its annual emissions by approximately 23%.
"By investing in these projects, from coast to coast to coast, the Government of Canada is making sure we are positioned to succeed in the $26 trillion global market for clean solutions and to create good middle class jobs today and for the future," said Minister of Environment and Climate Change Catherine McKenna, in a release.
Critics quickly turned to social media following the announcement Monday to question the government's decision to hand millions in funding to a large, financially lucrative company. In its most recent quarter, the company earned a profit $221 million.
Others criticized the government for giving money to a company that was involved in Canada's 16-year-long bread price-fixing conspiracy.
$12 million to a company making billions in profits & whose shareholders rejected a living wage for their employees.
Instead of prioritizing handouts to rich corporations, how about we make life more affordable for people trying to retrofit their home to be more enviro-friendly? https://t.co/ABatuIHpiq
— Jagmeet Singh (@theJagmeetSingh) April 8, 2019
#CarbonTax take from working people give to mega rich: #Loblaws $46.7 billion revenue, $1.9 billion income , 10+ year bread price fixing, $400 million offshore tax investigation : #Loblaw gets $12 million from govt for fridges #cdnpoli https://t.co/4RFd2N1BIM
— Richard Anderson (@RicksDesk) April 8, 2019
You're giving $12 million in public money to Loblaw's to fix their fridges?
Maybe multi-billionaire owner Galen Weston should dig into his own pockets for that. https://t.co/jXXJhvzemu
— Taras Grescoe (@grescoe) April 9, 2019