Canada Infrastructure Bank and Scotiabank Partner on $100M Green Retrofit Program
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The Canada Infrastructure Bank (CIB) is expanding its Building Retrofit Initiative (BRI) through a new $100 million partnership with Scotiabank to finance energy-efficient upgrades for commercial real estate clients. The program will provide low-cost loans to building owners, helping them cut emissions by at least 30% while modernizing their properties.
According to the CIB, eligible retrofits include improvements to heating and cooling systems, building insulation, lighting, automation, and electric vehicle charging infrastructure. The initiative targets commercial, industrial, office, and multi-residential buildings, which contribute nearly 18% of Canada’s emissions. By reducing energy consumption, the program aims to lower long-term operating costs for property owners while supporting sustainability goals.
Scotiabank will identify clients interested in retrofits, manage loan underwriting, and administer financing. The partnership is expected to create jobs, enhance workplace environments, and increase property values through energy-efficient upgrades.
This marks CIB’s second collaboration with a major bank under its BRI, setting a model for broader industry participation. "Our partnership with Scotiabank allows us to scale impact by leveraging their client network," said Ehren Cory, CEO of CIB.
Chris Manning of Scotiabank emphasized the financial benefits: "Energy-efficient buildings have lower operating costs and higher value. This program helps owners access affordable capital for upgrades."
Leslie Church, Parliamentary Secretary for Labour and Seniors, praised the initiative as a forward-looking investment in Canada’s infrastructure. "Sustainable retrofits cut emissions, reduce energy costs, and create jobs—building stronger communities," she said.
With over $1 billion already committed to the BRI, CIB continues to accelerate building retrofits nationwide, supporting Canada’s transition to a low-carbon economy.
Source: cib-bic.ca
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