GBCI Canada will deliver accreditation and certification services for Investor Ready Energy Efficiency projects
OTTAWA, TORONTO AND WASHINGTON – October 4, 2017 – The Canada Green Building Council (CaGBC), Green Business Certification Inc. (GBCI), and the Advanced Energy Centre at MaRS Discovery District (MaRS) announced today that they are working together to bring the Investor Confidence (ICP) Project and its Investor Ready Energy Efficiency (IREE) certification to Canada.
ICP is a global underwriting standard for developing and measuring energy efficiency retrofits and is administered by GBCI. Its IREE certification signals to investors that a project has adopted best practices that can help reduce transaction costs and increase savings. The protocols offer investors a consistent roadmap for assessing risk and expected outcomes from deep retrofits.
The IREE certification is currently being used by project owners, investors, engineers and insurance companies in North America and Europe. Energy efficiency programs such as Pacific Gas and Electric’s On-Bill Financing Program, the New Jersey Board of Public Utilities Pay4Performance Program, the Connecticut Green Banks Commercial Property Assessed
Clean Energy program, the United Kingdom’s Carbon and Energy Fund and others are also applying the IREE certification.
In the Pan-Canadian Framework, the Canadian federal government recognized the role that retrofitting buildings will play in reaching Canada’s targeted emissions reductions. The CaGBC and GBCI are bringing ICP to Canada to facilitate the mass retrofits required to achieve these goals. The IREE-certified projects will provide clarity on the long-term performance of energy efficiency technologies and provide the necessary assurance required to create greater access to competitive financing which will be necessary to achieve retrofits on a large scale.
“As our recent A Roadmap for Retrofits in Canada report found, Canada’s existing building stock has the potential to reduce overall building emissions by up to 51 per cent by 2030. The biggest barrier for the industry and ownership is access to financing,” says Thomas Mueller, President and CEO of the CaGBC and GBCI Canada. “We believe that the ICP can play a critical role in the acceleration of Canada’s retrofit economy by instilling investor confidence in green retrofits and by providing a tested, ready-made tool that government and industry can leverage to accelerate uptake across the country.”
Supported by the Ministry of Energy in Ontario, the Advanced Energy Centre at MaRS is partnering with CaGBC and GBCI to pilot the ICP methodology for the Canadian market. The pilot will bring together a multi-sectoral group that includes owners, government, engineering firms, utilities and financial institutions with the goal of determining how ICP can help facilitate more retrofits in Canada. The pilots will also help inform the accreditation and certification services for Investor Ready Energy Efficiency projects, which will be delivered by GBCI Canada.
“The Advanced Energy Centre is pleased to play a role in introducing the Investor Confidence Project and supporting the IREE Certification’s launch in Canada,” says Shawn Peterson, Senior Associate of the Advanced Energy Centre at MaRS. “Our cities need innovative financing mechanisms for improving building performance at scale. Ontario’s large concentration of institutional real estate, financial capital and support to invest in low-carbon building solutions makes it an ideal market for investors.”
The next steps for the ICP program in Canada will be the recruitment of Canadian projects for IREE certification in February 2018, and then the initiation of a pilot in summer 2018. For more information on ICP in Canada, visit the MaRS Discovery District website.
About Canada Green Building Council (CaGBC)
The CaGBC (www.cagbc.org) GBCI Canada are the leading national organizations dedicated to advancing green building and sustainable community development practices. As the voice of green building in Canada, CaGBC works closely with our national and chapter members in an effort to make every building greener. It does this through project certification, advocacy and research, and has helped meet the demand for skilled workers by providing green building education to over 30,000 professionals across the country since 2002. It also developed the country’s first Zero Carbon Building Standard, oversees the Canada Coalition for Green Schools, and is a member of the World Green Building Council, supporting international efforts to reduce environmental impacts from the built environment.
About Green Business Certification Inc. (GBCI) Canada
Announced in May 2017, GBCI Canada (www.cagbc.org/gbcicanada) is a new joint venture between the CaGBC and Green Business Certification Inc. (GBCI) created to more effectively support the Canadian market. GBCI is the premier organization independently recognizing excellence in green business industry performance and practice globally. Established in 2008, it exclusively administers project certifications and professional credentials and certificates within the framework of the Leadership in Energy and Environmental Design (LEED) green building program, as well as the PEER standard for power systems, the WELL building standard, the Sustainable SITES Initiative (SITES), Parksmart, EDGE (Excellence in Design for Greater Efficiencies), TRUE Zero Waste certification, Investor Confidence Project (ICP) and the GRESB benchmark. Beginning in early 2018, GBCI Canada will administer all of the current and future GBCI offerings named above, in Canada.
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. Our purpose is to help innovators change the world. MaRS supports promising ventures tackling key challenges in the health, energy & environment, finance & commerce, and work & learning sectors as they start, grow and scale. In addition, the MaRS community fosters cross-disciplinary collaboration to drive breakthrough discoveries and new solutions to be adopted in Canada and beyond, growing our economy and delivering societal impact at scale.