Business View Magazine | March 2018

18 OPENING LINES CANADA GREEN BUILDING COUNCIL SETS 2030 ROADMAP FOR $32B RETROFIT ECONOMY A newreport published by the Canada Green Building Coun- cil (CaGBC) sets out a series of comprehensive actions for industry,non-profit organizations,and governments to build aworld-leading retrofit economyby2030 that improves the performance of existing buildings and creates neweconomicopportunities for Canadians. CaGBC’sARoadmap for Retrofits: Build- ing StrongMarket Infrastructure for the Retrofit Economy,was released recently in conjunctionwith a roundtable policy discussion hosted byNatural Resources Minister JimCarr,CaGBCand Econoler in Ottawa. The Report states that the environmen- tal and economicpotential of Canada’s retrofit economycannot be developed by governments alone–it requires industry leadership and innovativemarket-based mechanisms to generate and sustain re- sults.The roundtable convened a diverse range of stakeholders to discuss how to develop the policy,financing,human capital,business practice,and information market infrastructure to build and sustain a robust retrofit economy. “Through Canada’s national energy dialogue,Generation Energy,Canadi- ansmade it clear that the transition to energy-efficient buildings is necessary for Canada’s low-carbon future,”says Canada’s Minister of Natural Resources, theHonourable JimCarr.“Together with industryand the provinces and territo- ries,we developed Build Smart: Canada’s Buildings Strategy.This strategy involves workingwith organizations like CaGBCto turn big ideas into real actions Canadians can take andwe lookforward toworking together on climate change,through significant,long-lasting improvements to the buildings sector,both nowand for the future.” The Report calls on private financiers, pension funds,insurers,and other finan- cial intermediaries to develop retrofit lending products (like the Investor Confi- dence Project) and standardized commer- cial contracts that foster building owner and financier confidence in deep retrofit projects.The Report also encourages building owners to proactivelydisclose building energyand carbon performance, and to share data on the performance of their retrofit projects in order to help the retrofit economyevolve. “The CaGBC’s report recommendations are unique in endorsing amove away froma solution based on government grants and rebates,and instead focuses on leveragingmarket-based mechanisms developed through private,public, and nonprofit collaboration,”saysThomas