Canada Green Building Council sets 2030 Roadmap for $32B retrofit economy
A new report by the Canada Green Building Council (CaGBC) has set out a series of comprehensive actions for industry, non-profit organizations and governments to build a world-leading retrofit economy by 2030 that improves the performance of existing buildings and creates new economic opportunities for Canadians.
CaGBC's A Roadmap for Retrofits: Building Strong Market Infrastructure for the Retrofit Economy states that the environmental and economic potential of Canada's retrofit economy cannot be developed by governments alone – it requires industry leadership and innovative market-based mechanisms to generate and sustain results, according to a release.
The report calls on private financiers, pension funds, insurers and other financial intermediaries to develop retrofit lending products (like the Investor Confidence Project) and standardized commercial contracts that foster building owner and financier confidence in deep retrofit projects. The report encourages building owners to proactively disclose building energy and carbon performance and to share data on the performance of their retrofit projects in order to help the retrofit economy evolve.
"The CaGBC's report recommendations are unique in endorsing a move away from a solution based on government grants and rebates, and instead focuses on leveraging market-based mechanisms developed through private, public and nonprofit collaboration," said Thomas Mueller, president and CEO of the CaGBC. "In following this market-driven approach, Canada has a chance to be the first in the world to put into place the requisite policy and market infrastructure to implement a retrofit economy and reap the environmental and economic advantages."
The report calls on governments at all levels to leverage their own significant building portfolios to demonstrate the value of retrofit projects, co-invest in education and training with industry to build skills, and undertake smart regulatory and program interventions to attract private-sector capital to projects.
The CaGBC will work with government, industry and financial leaders to support the introduction of key market infrastructure that will drive an acceleration of retrofit activity proposed in the Roadmap. The full A Roadmap for Retrofits: Building Strong Market Infrastructure for the Retrofit Economy report is available on the CaGBC's website.
Topics: Architectural Firms, Associations / Organizations, Building Owners and Managers, Construction Firms, Energy Saving Products, Great Commercial Buildings, Office Buildings, Sustainable Communities, Urban Planning and Design