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Josipa Petrunic, President and Chief Executive Officer of Canadian Urban Transit Research & Innovation Consortium (CUTRIC)

In Conversation With Josipa Petrunic, President and CEO of Canadian Urban Transit Research & Innovation Consortium (CUTRIC)

REM offers blueprint for future transit projects, says Caisse CEO

CIB joins celebrations marking launch of Montreal’s new automated rail network REM

CEO Ehren Cory and Managing Director, Investments, Charles Todd participated in panel discussions at the World Petroleum Congress in Calgary.
CEO Ehren Cory and Managing Director, Investments, Charles Todd participated in panel discussions at the World Petroleum Congress in Calgary.

Hydrogen development part of clean energy transition, CIB tells World Petroleum Congress

Flo charging station allows electric cars to fill up.

Second company set to join CIB’s electric vehicle charging initiative; hydrogen deal coming

Impactful Momentum: The CIB’s 2022-23 Annual Report

The Canada Infrastructure Bank’s investments are having a meaningful impact beyond the value of investments, chairperson Tamara Vrooman said in the 2022-23 annual report, tabled in Parliament in October. She pointed to new clean electric buses on the streets of Canadian communities, infrastructure improvements in Indigenous communities, and clean power investments which will deliver capacity enhancements and GHG reductions at the same time. “I am proud the CIB has become a trusted investment partner with a strong record of financing critical infrastructure across Canada,” she wrote. ”The CIB is operating at full speed and ready to deploy more capital, alongside public and private and institutional investors to foster economic growth and contribute to the sustainability of infrastructure in Canada.” As of March 31, 2023, the CIB made investment commitments of $9.7 billion to 46 projects with a total capital value of $27 billion. The organization’s momentum is building, with nearly half of these commitments made in the past fiscal year alone.

Investing in Impact: A submission to the Minister of Intergovernmental Affairs, Infrastructure and Communities’ Legislative Review of the Canada Infrastructure Bank Act

The Canada Infrastructure Bank (CIB) was established to help get infrastructure built. The pace and volume of infrastructure investments by the CIB across the country have significantly increased. The CIB views the legislative review as an important opportunity to affirm its mandate and cement its foundations for long-term impact. The next decade’s challenges require Canada to move quickly to remain competitive with other economies. Canada must accelerate infrastructure investment to address urgent priorities, including transitioning to a net-zero economy, strengthening supply chain resilience, diversifying energy sources, enabling an increasingly digital economy, and closing the opportunity gap for Indigenous communities from coast to coast to coast.

MW Shares podcast: Municipal infrastructure, net zero and the all-at-once challenge with Ehren Cory

Nobody has ever complained there’s too much money going into infrastructure in Canada, CIB chief executive officer Ehren Cory said in a Municipal World podcast. Regardless of political stripe, there’s a true consensus more productive infrastructure needs to be built. “We need everybody at the table and then some, which is why we talk about it being an all-at-once challenge,” Cory told editor Greg Crone. “It requires all hands on deck and every tool in our toolkit.” Cory said the Canada Infrastructure Bank is just one tool and best suited for opportunities with some ability to repay loans. This includes electricity generation, transit, building retrofits and electric vehicle charging. Governments have a leading role to play in projects such as hospitals and schools, but there’s room for the private sector and agencies like the CIB where there’s a revenue stream. “We need more ways to fund infrastructure in our country if we want to get more built because we can only afford what we can fund.

COMMUNITY OF CIB:

Meet Martin Massé, Vice President, Public Affairs and Vice President, Sustainability, Aéroports de Montréal (ADM)

Public service has always been at the heart of my professional career, whether at the City of Montreal, the Quebec Government or today at Aéroports de Montréal (ADM). As an organization at the service of the community, I am deeply aligned with ADM’s mission to maintain harmonious coexistence with its surroundings.

As Vice President of Public Affairs and Sustainability, I’m proud of ADM’s ambitious goal to become net-zero by 2040 – 10 years earlier than the air transport industry’s commitment.  

Becoming net-zero will require us to move quickly to reduce our direct emissions while also working alongside communities to decrease emissions produced by travelling to the airport. That’s why we are aiming for 20 per cent of journeys to and from the airport to be made through public transport by 2030.   

Through a more efficient and reliable mode of transportation compared to what we have now in service, which is mainly buses, we are confident we will be able to reach this goal. The Réseau express métropolitain (REM) network, will play a critical role in connecting the Greater Montréal area to Aéroport-Montréal-Trudeau (YUL).  

The Canada Infrastructure Bank’s (CIB) financial contribution was essential to getting shovels in the ground and making the airport REM station a reality. 

At a time when the pandemic was especially hitting Canadian airports and ADM hard, and as we were looking to secure financing for the construction of the REM station, the CIB came through by providing a loan of up to $300 million.  

Through project financing, we saw firsthand the remarkable solidarity at all levels of government to enable a transit project benefiting the whole catchment area of the YUL airport, Quebec and our visitors.  

The REM will encourage passengers and airport employees to use more environmentally friendly modes of transportation and create a more welcoming airport, benefiting travellers, employees and the community. 

In working with the CIB, I have seen the organization’s desire to have a real impact by investing in net-zero communities and sustainable, world-class cities.  

We look forward to opening our station doors and welcoming more visitors and top talent to Montreal.

CIB Projects in Progress Q1 2023-24

More of our investments are in construction and deployment across Canada. Watch the video to learn about some of the CIB investments that are coming to life this quarter.

Outcomes and Key Metrics

7.4 Mt
Annual GHGs Reduced
174,000
Daily Transit Riders
341,000
Homes Connected to Broadband
5,466
ZEBs Financed
27
Indigenous Communities Benefitting
200,000
Acres of additional farmland irrigated

PARTNERSHIPS

Electric vehicle being charged by a FLO fast charger
  • Green Infrastructure

FLO EV Charging Network

  • Reduces transportation sector greenhouse gas emissions
  • Increases access to public charging infrastructure
  • Full deployment to be completed within four years
  • Public Transit

Durham Region Zero-Emission Buses

  • Reduce GHGs by 6,525 tonnes/year
  • Cleaner and quieter commuting option for residents
  • Lower expected maintenance and fuel costs
Trees in front of building
  • Green Infrastructure

Ameresco Retrofits

  • Reducing 33,000 tonnes of greenhouse gas emissions annually
  • Increases the energy efficiency of buildings
  • Investment repaid through energy savings generated by the retrofits
An office building with a tree next to it and a blue sky
  • Green Infrastructure

BMO Retrofits

  • Enhances building energy efficiency and energy cost savings
  • Reduces greenhouse gas emissions by at least 30 per cent
York Region Transit electric bus at charging station
  • Public Transit

York Region Zero-Emission Buses

  • 15,982 tonnes of greenhouse gas emissions saved annually
  • Cleaner and quieter public transit option
  • Helping region meet net zero goals
REM Ribbon cutting
  • Public Transit

Réseau express métropolitain (REM)

  • 26 accessible stations
  • 3 connections to the subway system
  • Downtown to airport in 20 minutes
  • 100% electric and automated
Renderings of upgraded road and new pedestrian trail
  • Trade & Transportation
  • Indigenous Infrastructure

Enoch Arena Road

  • Improve community safety with an upgraded roadway, street lighting and multi-use pedestrian trail
  • Provides construction and maintenance training and employment opportunities for First Nation members and band-owned contracting company
  • Supports future economic development opportunities

Do you have infrastructure projects that we can help to accelerate?



CONTACT US

Investment proposals: investments@cib-bic.ca
Corporate: contact@cib-bic.ca
Media: media@cib-bic.ca