High-quality transit service for students with lower carbon footprint
The investment supports the purchase of approximately 280 electric zero-emission buses and associated charging infrastructure over next five years.
Fast facts
Zero-Emission Buses (ZEBs) are quieter and are expected to have lower maintenance and fuelling costs compared to equivalent greenhouse gas-emitting vehicles. By replacing 280 diesel school buses, the investment will help reduce GHGs by 4,760 tonnes on an annual basis. The buses contribute to the province’s shift toward more sustainable transportation, lowering its carbon footprint while providing a high-quality transit service for students.
Our financing will work in conjunction with funding provided by British Columbia’s Ministry of Education and the Ministry of Energy, Mines and Low Carbon Innovation. We will finance a portion of the ZEB purchase price and will be repaid from cost savings from the ZEB as measured against costs of an equivalent GHG-emitting bus.
Benefits of CIB involvement
Our Zero-Emission Buses initiative assists transit agencies and school bus operators in transitioning their fleets to modern, environmentally friendly vehicles. Our financing, in the form of direct loans and innovative aggregators, can cover the higher upfront capital cost of ZEBs versus diesel buses, with repayment coming only from actual savings generating by operating ZEBs instead of diesel buses. We enable partners to take advantage of flexible financing options to modernize their bus fleets on an accelerated basis.
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