BMO has launched a program to help Canadian clients who are commercial building owners get the financing they need to execute energy retrofits at the pace and depth required to help achieve net zero. BMO is the first financial institution in Canada to offer a unique financial ecosystem that provides access to impact capital through the Canada Infrastructure Bank, with long term refinancing through BMO. Recent projects include an innovative adaptive re-use project by real estate development firm Sidewalk RED in Nova Scotia.

How it works: BMO commercial bankers engage clients to explore the business case for an energy efficiency retrofit, outlining how the features of BMO's Retrofit Program may unlock new projects. Client and BMO engage industry partners who scope work, forecast greenhouse gas (GHG) savings, and certify the project. Depending on the forecast GHG savings, the client may qualify for Canada Infrastructure Bank impact capital to support project execution.

Post retrofit: GHG savings are verified; while the long-term refinancing structure reflects the additional value retrofitting confers on a property, in turn opening up debt restructuring options.