Canada Tackles Climate Change with Deep Energy Retrofits
Key Takeaways
CIB invests $100 million in GDI for deep energy retrofits in ageing buildings.
Retrofits aim to reduce greenhouse gas emissions and create jobs in the trade sector.
This public-private partnership supports Canada's goal of net-zero emissions by 2050.
The Canada Infrastructure Bank (CIB) is investing significantly in a greener future. Through a new $100 million partnership with GDI Integrated Facility Services Inc. (GDI), the CIB is financing deep energy retrofits across Canada.
These upgrades will target ageing buildings, aiming to reduce their environmental impact dramatically.
Turnkey Solutions for Sustainable Buildings
GDI, a leader in energy services, will take the lead on these projects. They have established a dedicated entity to manage the finances, leveraging the CIB's investment alongside their own and that of other partners. GDI's subsidiaries, Ainsworth and Énergère, will provide comprehensive "turnkey" solutions - from initial assessments to installation and ongoing maintenance.
This includes:
Energy audits and modelling
System design and installation
Ongoing energy management and data analysis
Optimisation for long-term efficiency
Reducing Carbon Footprint, Creating Jobs
The specific approach for each retrofit project will vary based on the building's needs. However, Ainsworth's energy services will focus on deep renovations that dramatically cut carbon emissions. This could involve switching fuel sources, upgrading HVAC systems, and integrating clean energy solutions like solar panels and electric vehicle charging stations.
These retrofits are expected to deliver a considerable environmental benefit. Once completed, they are estimated to reduce greenhouse gas emissions by approximately 44,000 tonnes annually collectively. Also, the project is expected to create roughly 500 jobs in the trade sector.
Building a Sustainable Future Together
This initiative builds on the CIB's existing Building Retrofits Initiative, which has already committed over $1.2 billion to sustainable building upgrades. As buildings are responsible for roughly 18% of Canada's greenhouse gas emissions, these retrofits are crucial for achieving the country's climate change goals.
Ehren Cory, Chief Executive Officer, Canada Infrastructure Bank, says, "The CIB’s Building Retrofit Initiative is further bolstered by an additional $100 million loan to a leading energy services company in GDI. This partnership will enable GDI to accelerate the implementation of turnkey retrofit solutions designed to improve the efficiency of our country’s inventory of aging buildings which is key to making communities more resilient and sustainable."
Claude Bigras, President & Chief Executive Officer, GDI, says, "We are very excited to work with CIB on their financing program that we can offer to our clients across Canada. These investments will enable our clients to reduce their overall greenhouse gas emissions and will contribute to the mitigation of climate change effects in Canada and the world. We will be performing turnkey solutions for clients’ buildings to reduce the carbon footprint and while enhancing overall energy efficiency."
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Source: CIB
