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18 Toronto office buildings to be retrofitted to net-zero carbon emissions standards
Real estate company Dream and the Canada Infrastructure Bank launched a net-zero retrofit initiative on Thursday, involving 18 office buildings in Toronto and one in Saskatoon.
The company's goal is to reduce the selected buildings' carbon emissions by over 40 per cent in the next 36 months and to net-zero by 2035, according to a news release.
A $136 million investment from the Canada Infrastructure Bank is funding the work, as part of the Commercial Building Retrofits Initiative. Dream is the first real estate company in Canada to receive funds under the initiative.
"It's important to note that real estate accounts for nearly 40 per cent of greenhouse gas emissions," said Gordon Wadley, chief operating officer for Dream Office REIT, said at a ribbon-cutting ceremony at 36 Toronto St.
"It's really incumbent on all of us in the industry to make positive impacts with the real estate that we own and manage."