This group brings together the best thinkers on energy and climate. Join us for smart, insightful posts and conversations about where the energy industry is and where it is going.


Task Force Urges $50B for ‘Bold’, Resilient Recovery, Including $27B for Building Retrofits

The Energy  Mix's picture
Blog posts, The Energy Mix

The Energy Mix is a Canadian non-profit that promotes community awareness of, engagement in, and action on climate change, energy, and post-carbon solutions. Each week, we scan up to 1,000 news...

  • Member since 2018
  • 716 items added with 804,682 views
  • Jul 29, 2020

Dept of Energy Solar Decathlon/Flickr

An independent task force of Canadian finance and policy experts is calling on the federal government to invest C$50 billion over the next five years in five “bold moves for a resilient recovery”, with a $27-billion building energy retrofit program leading a list of 22 specific policy measures.

A resilient recovery from the COVID-19 pandemic “means getting Canadians back to work at the same time as supporting the jobs, infrastructure, and growth that will keep Canada competitive in the clean economy of the 21st century,” the Task Force for a Resilient Recovery states in its preliminary report released Wednesday. It calls for five years of investments and policy measures “that go beyond short-term stimulus to put our economy on a low-carbon, climate-resilient, sustainable, and competitive pathway.”

In addition to its signature building energy retrofit program, the task force calls for an $11.5-billion investment in the country’s clean energy sector, $7 billion to “jumpstart Canada’s production and adoption of zero-emission vehicles,” $3.2 billion invested in nature, and $1 billion for “clean competitiveness” measures.

The task force sees a $13-billion direct investment in a “well-functioning building retrofit market” leveraging another $35 billion in private capital by de-risking the projects for investors, supporting regional energy efficiency finance networks, standardizing processes for launching and underwriting projects, and aggregating the work to make it interesting to big, institutional investors. Another $10 billion would go to provincial and municipal energy efficiency and resilience programs, $1.25 billion would support work force development, and $2 billion would go into “large-scale demonstration projects” to “significantly reduce the cost, time, and customer disruption of deep energy retrofits.”

The Toronto Star says the group plans to complete a final report while Ottawa is planning the next phase of the country’s post-COVID recovery (or possibly not, apparently). The building retrofit work, in particular, “is something where an enormous number of jobs can be created, existing technologies can be accelerated and commercialized, and in the event that buildings are improved through retrofit, it will result in a better environment for tenants and workers, it will result in increased value for property owners,” said task force member Andy Chisholm, a member of the Royal Bank of Canada board of directors who served on the federal Expert Panel on Sustainable Finance.

Find the rest of the Task Force report here.

Read More


No discussions yet. Start a discussion below.

The Energy  Mix's picture
Thank The Energy for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »