Mr. Speaker, with regard to the CIB and the funds provided for energy retrofits, the Canada Infrastructure Bank’s building retrofits initiative, BRI, provides financing for energy retrofit projects. With buildings currently accounting for 18% of Canada’s greenhouse gas emissions, modernizing these assets is critical to meeting Canada’s climate change goals. The BRI invests in the decarbonization of buildings to finance capital costs of retrofits, using savings from energy savings, efficiencies and operating cost savings for repayment. The private sector under the BRI includes privately owned commercial, industrial and multi-unit residential buildings. The CIB’s financing is eligible for projects that reduce greenhouse gas emissions from buildings through decarbonization retrofits, including energy efficiency; fuel switching, such as electrification, renewable natural gas or hydrogen; on-site renewable energy and storage; and electric vehicle, EV, chargers. The CIB’s financing is not available for building renovation projects that are not decarbonization retrofits. Ultimately, savings from energy savings, efficiencies and operating cost savings are passed on to building owners and tenants.
With regard to part (a), the CIB has made one investment towards building retrofits to multi-unit residential buildings to date. This investment with Avenue Living Asset Management, Avenue Living, an owner and operator of properties primarily in Alberta and Saskatchewan, will enable retrofits at approximately 95 properties in their portfolio consisting of 240 buildings to optimize energy performance in more than 6,400 residences. The CIB’s investment commitment is in the amount of $129,871,754.71. As of this date, no funds have been transferred to Avenue Living in accordance with the terms of the credit agreement.
The CIB does not track evictions triggered by building renovation projects and, therefore, does not have a response with respect to parts (b), (c) and (d).