Our Investment and Advisory teams are in discussions with a variety of public sector (particularly provincial and large municipal entities) and private sector partners.
Investment in large-scale projects crowd in private capital where investment from the private sector has traditionally been limited due to the uncertain nature of expected cost savings. Our experts are creating a mainstream, broadly marketed debt product to attract new market participants.
We provide accessible debt financing for infrastructure to reduce GHGs over the projected life of financed equipment. These investments also create employment opportunities.
Our Public Retrofits Initiative (PRI) provides financing for energy retrofits projects on infrastructure portfolios owned and/or managed by the public sector. Our team of experts works with the public sector to review their asset portfolios from a holistic perspective and develop bundles of energy retrofit projects.
We support ambitious portfolio-scale GHG reduction goals without using public funds, for upfront investment or ongoing subsidies, where possible. We aim to create a model for investment and procurement for energy performance projects that can be self-perpetuating as the market normalizes and accelerates towards net zero targets in 2050.
- The public sector under the PRI includes all levels of government, Indigenous communities, schools, hospitals, and universities. The eligible assets include all types of buildings, such as administrative offices, courthouses, correctional facilities, hospitals, campus buildings, student resident buildings. It also includes infrastructure such as parking facilities, transit stations, transit yards and transit hubs, streets and highways lighting, etc.
- To achieve significant levels of GHG reduction with reasonable financial returns, cost-effective bundling of multiple measures will likely to be required. As a result, potential partners may have to include all levels of energy efficient infrastructure from operational upgrade to deep retrofits and fuel switching investments.
Our Commercial Building Retrofits Initiative (CBRI) provides financing for decarbonization retrofits in privately owned commercial, industrial and multi-unit residential buildings in Canada. The Initiative aims to stimulate jobs for Canadians and strengthen Canada’s economy through new infrastructure investments.
The application must consist of an investment opportunity for the CIB of a minimum of $25 million and the Initiative is open to two kinds of applicants:
1. Building owners may apply for financing to retrofit one or more of their buildings
2. Third-party retrofits aggregators, including:
- Existing Energy Service Companies (ESCO) that form a dedicated Special Purpose Vehicle (SPV) to originate and develop retrofit projects, or
- Super ESCO models that are SPVs functioning as an intermediary between building owners and multiple ESCO providers, or
- New entrants to the energy services market that have capabilities and capacity to either work on buildings or invest in retrofit projects, or
- C-PACE program administrators.
For Canada to have a strong, resilient economy in the future, we must consider the impacts of climate change now. As part of the 2030 Emission Reduction Plan issued in March 2022, the CIB will support the federal government’s objective of adding 50,000 zero-emission vehicle (ZEV) charging infrastructure to Canada’s network. The goal is to help make the transition to electric vehicles easier for Canadians. The initiative commits $500 million to ZEV charging and refuelling infrastructure.