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Government of Canada’s New Canada Green Buildings Strategy to Help Canadians Save Money on Their Energy Bills

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THUNDER BAY, ON, July 17, 2024 /CNW/ – The Canada Green Buildings Strategy (CGBS) introduces the Government of Canada’s vision and next steps to improving energy efficiency in Canada’s homes and buildings, which will in turn cut energy bills for Canadians and support good jobs from coast to coast to coast. 

Today, The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor, on behalf of the Honourable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, announced the First Green Building Strategy.

As part of the CGBS, the Government of Canada introduced the $800-million Canada Greener Homes Affordability Program (CGHAP) to help low-to-median-income Canadians, including tenants, upgrade their homes to save money on their energy bills and cut pollution. This new program will replace the Canada Greener Homes Grant (CGHG) with more comprehensive support for the installation of retrofits, at no charge to participating households. Using a ‘direct install’ model, where the retrofits are managed and delivered by third parties, this program could provide participating households with support up to four times more valuable than the former grant program. Recommended retrofits will be determined by experienced energy efficiency professionals, enabling each participant to receive what their home needs and making their homes more affordable and comfortable.   

The CGHAP builds on the progress made to date through the CGHG, which has already helped 240,000 homeowners install heat pumps, windows and doors, and insulation through an average grant of $4,400 per household. Each year a CGHG household will save an average of nearly $400 on their energy bills and reduce their emissions by 1.18 tonnes of CO2. Over the next couple of years, the CGHG will continue to help hundreds of thousands more program participants complete retrofit projects that will further reduce emissions and energy consumption.

In addition to CGHAP, the Oil to Heat Pump Affordability Program and the Canada Greener Homes Loan will continue to help Canadians reduce their home energy costs and make the switch to electric heat pumps. To date, nearly 160,000 heat pumps installations have been supported by federal funding. The impact of this momentum is particularly important for households that are fully heating with oil, as they could save from $1,500 to $4,500 per year on their home energy bills by switching to a cold climate electric heat pump.  

The Government of Canada has also committed to introducing a regulatory framework to phase out the installation of expensive and polluting oil heating systems in new construction, as early as 2028. This phase-out would include necessary exclusions for regions with insufficient access to the electricity grid and where standby back-up heating fuel is required.

The Government of Canada is also greening its own infrastructure, with the goal of fully meeting the energy needs of federal buildings with clean energy sources, by eliminating the use of fossil fuels for space and water heating where possible and building net-zero from the start.

To help develop a sustainable foundation for years to come, the Government of Canada’s new Buy Clean approach will build on Canada’s clean manufacturing advantage. The approach supports a shift to low-carbon materials and design through federal construction procurements and public infrastructure asset investments, which reduces the full life cycle of emissions from building materials and projects and fosters manufacturing competitiveness and jobs.

Canadians want to live in sustainable communities: places with clean air, affordable homes and good jobs. The Government of Canada’s investments in greening buildings and switching from fossil fuels to clean electricity are key to lowering GHG emissions while supporting a strong and affordable economy. 

Quotes 

“Energy efficiency means cost savings for Canadians. At a time when we are facing challenges with affordability and climate change, this plan meets Canadians where they are at and delivers the action they need, at the pace and scale they are demanding. Canada’s first-ever Canada Green Buildings Strategy is a plan to save Canadians money, create jobs and seize the economic opportunities that a clean and sustainable economy presents.”

The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, Government of Canada

“As we work towards ending Canada’s housing crisis, we need to ensure the longevity of new and existing buildings by making them more energy efficient and resilient to the impacts of climate change. We are proud to announce these investments today that will go a long way in doing just that across the country.”

The Honourable Sean Fraser, Minister of  Housing, Infrastructure and Communities Canada

“The Canada Green Buildings Strategy is all about building more energy efficient and affordable homes and buildings. Cutting the wasted energy from the heating and cooling of our buildings is a win-win, both for lower energy bills and less harmful pollution going into our atmosphere. Already in Canada, we have seen a tidal shift in the adoption of heat pumps at a household level, as well as clean energy solutions for large commercial buildings and industry. It is through close collaboration of provinces and territories, municipalities, Indigenous Peoples, businesses, and individuals over the coming years that we can keep this progress going and make a big dent in the emissions coming from out buildings sector.”

The Honourable Steven Guilbeault, Minister of Environment and Climate Change

“This new  strategy will help people in Thunder Bay save on their heating bills. It’s a more flexible solution that will better protect the environment and create sustainable good-paying jobs for families right here in our region.”

The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor

“Our government is taking ambitious steps to achieve net zero by 2050 through our Greening Government Strategy. By implementing a Buy Clean approach to a real property portfolio of over 34,000 buildings nationwide, we are maximizing energy efficiency while minimizing the environmental impact of construction materials and design. Through these efforts, we are leading the fight against climate change.”

The Honourable Anita Anand, President of the Treasury Board of Canada and Minister responsible for the Centre for Greening Government

Quick Facts 

Buildings are Canada’s third-largest emitter of GHG emissions. Nearly all building emissions – over 96 percent – come from space and water heating. To tackle this, major changes in the building sector are underway, with the potential to create hundreds of thousands of jobs and help Canadians save money on their energy bills.Retrofitting existing buildings, building green from the start, and choosing alternatives to fossil fuel heating equipment, such as electric heat pumps, will help Canada achieve its net-zero commitments by 2050. There is also a need to build stronger to better equip communities to withstand the effects of climate change.To reach Canada’s climate goals, reduce energy bills and build up Canada’s supply of energy-efficient and resilient building stock, there is a need to accelerate the retrofit of approximately 10 million buildings and construct millions of new net-zero buildings in the coming decades.Canadian households spend an average of $2,200 a year on home energy costs and these costs are significantly higher in homes that heat with oil and in older homes with poor insulation, ventilation and heating/cooling systems.The Canada Green Buildings Strategy is a commitment in the 2030 Emissions Reduction Plan: a sector-by-sector approach to reach Canada’s climate target of cutting emissions by at least 40 percent below 2005 levels by 2030, laying the foundation to achieve net-zero emissions by 2050.Retrofits under the Canada Greener Homes Grants have been issued to 240,000 Canadian households, with an average grant of $4,400 per household. These retrofits are removing over 306,540 metric tonnes of GHG emissions, equivalent to taking nearly 94,000 fossil fueled powered vehicles off the road.The Canada Green Buildings Strategy is funded as a part of Budget 2024 and is mentioned in Solving the Housing Crisis – Canada’s Housing Plan. It complements Canada’s National Adaptation Strategy, which lays out a framework to reduce the risk of climate-related disasters, improve health outcomes, protect nature and biodiversity, build and maintain climate resilient infrastructure, and support a strong economy and workers. New and ongoing federal initiatives are already starting to put the Strategy’s vision in practice.

Related Information 

The Canada Green Buildings Strategy: Transforming Canada’s buildings sector for a net-zero and resilient futureCodes Acceleration FundDeep Retrofit Accelerator InitiativeRetrofit Hub (canada.ca)Toward net-zero homes and communitiesGreener Neighbourhoods Pilot ProgramENERGY STAR CanadaOil to Heat Pump Affordability Program (OHPA)Oil to Heat Pump Affordability program at a glance – June 2024

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Paratus granted regulatory approval for renewable power industry

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Paratus to write the world’s first policy for renewable power price protection

GUERNSEY and LONDON, Sept. 25, 2024 /PRNewswire/ — Paratus Holdings Limited (“Paratus”), the world’s first (re)insurance group underwriting energy price risk, today announces that Paratus Renewables Insurance Limited has been granted regulatory approval by the Guernsey Financial Services Authority (“GFSC”) to provide insurance cover to the renewable power industry.

Paratus provides innovative and commercially viable insurance solutions to accelerate the transition to renewable energy and sustainable fuels. The licence approval will expand the product offering beyond aviation, maritime, and freight to renewable power including wind, solar, biofuels, and hydrogen.

Paratus renewable power insurance protects generators from adverse energy price risk, improving the competitiveness of renewable assets when compared to traditional price risk mitigation solutions. Equally, their policies enable power consumers to better manage operating costs and protect balance-sheets in a highly opaque marketplace. Through a deep understanding of the renewables energy sector, Paratus partners with clients to navigate a complex energy market.

The regulatory approval by the GFSC marks another significant milestone for the business. In January 2023, Paratus announced the completion of a growth equity investment from Ara Partners (“Ara”), a global private equity and infrastructure firm focused on industrial decarbonisation. The Ara investment has provided the capital required for Paratus to significantly scale and enhance the product offering.

Gus Majed, Group CEO and Founder, Paratus, commented: “The renewable power licence is central to our future growth. We are writing the world’s first policy for renewable power price protection and our product will have a transformative impact on the renewable energy industry. It will help catalyse the growth and competitiveness of renewable power assets, as Paratus expands across the U.K., Europe and the U.S.

Our focus is on providing clear, simple and transparent solutions that transform how firms mitigate adverse energy price volatility. This is a crucial step forward for the business and for the industry, as our world first renewable power price insurance policy will accelerate the transition to renewable energy sources and sustainable fuels.”

Paratus has further enhanced its offering by partnering with px Group, a fully licenced Ofgem supply business that provides power balancing capabilities. This partnership enables Paratus & Partners, the Group’s insurance brokerage division, to leverage px Group’s capability to provide Paratus and clients with compelling economics for physical offtake and 24/7 monitoring services, when they take out an insurance policy.

Gus added: “px Group has long standing experience and a first-class reputation for working with customers in the renewable energy space, and we are confident that this strategic partnership will help to support renewable power producers even more effectively, as they drive the transition to net zero. With px Group, we can deliver an end-to-end complete solution for renewable power generators.”

About Paratus

Paratus is the world’s first (re)insurer underwriting energy price risk with innovative solutions to protect against adverse energy price volatility and accelerate the transition to net-zero. A unique partnership of world-class experts in energy, insurance, and technology, Paratus is backed by Ara Partners, a $6.2 billion global private equity and infrastructure firm focused on industrial decarbonisation, and underwritten by globally rated financial institutions.

About px Group

px Group is a fully integrated infrastructure solutions business delivering innovative management services for high hazard and highly regulated environments. px Group manages, operates and maintains some of the largest industrial facilities in the UK and in Norway, and owns the world-renowned Saltend Chemicals Park at the heart of the UK’s Energy Estuary. 

With over 25 years’ experience, and operations in the UK, Norway, Germany and the Americas, px Group delivers end-to-end specialist services in operations & maintenance, engineering services and energy solutions across the industrial and energy infrastructure sectors. 

About Ara Partners 

Ara Partners is a global private equity and infrastructure investment firm focused on industrial decarbonization. Founded in 2017, Ara Partners seeks to build and scale companies with significant decarbonization impact across the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors. The company operates from offices in Houston, Boston, Washington, D.C., and Dublin. Ara Partners closed its third private equity fund in December 2023 with over $2.8 billion in capital commitments. As of March 31, 2024, Ara Partners had approximately $6.2 billion of assets under management. For more information about Ara Partners, please visit www.arapartners.com.

Media contacts 

Kapil Arya / Ed Shelley
Lansons
paratus@lansons.com
07550044000

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Zumo helps crypto-asset service providers breathe easier ahead of deadline for MiCA sustainability disclosures

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EDINBURGH, Scotland and LONDON, Sept. 25, 2024 /PRNewswire/ — Zumo, the B2B digital assets infrastructure, has launched a new out-of-box feature that enables crypto-asset service providers (CASPs) active in the European Union (EU) to comply with the upcoming sustainability requirements of the Markets in Crypto-Assets (MiCA) regulation.

Recent industry research has suggested that more than 80% of CASPs may be unaware of the need to report sustainability indicators from ESMA’s end-of-year deadline.

Under new rules, CASPs with a EU client footprint – including exchanges, brokerages, custodians and trading firms – will need to provide a compliant website disclosure covering the environmental impact of offered crypto-assets from 30 December 2024.

Amidst a flurry of incoming requirements, Zumo’s new Oxygen MiCA compliance module will help CASPs across the EU to streamline and simplify their sustainability compliance through auto-generated MiCA website disclosure reports, and allows CASPs to easily access MiCA-compliant sustainability metrics for their listed crypto-assets.

The solution draws on best-in-class sustainability data from Crypto Carbon Ratings Institute (CCRI), one of Zumo’s strategic partners, and further builds on Zumo’s Oxygen proposition, first introduced to help providers of crypto-asset services better align their digital asset activities with net zero principles. 

Nick Jones, Founder and CEO, Zumo, said: “MiCA’s sustainability requirements are going live to a tight deadline, and bring with them complex data questions and unfamiliar compliance requirements at a time when the industry is already having to confront a wide range of new operational mandates.”

“It’s become clear that CASPs across Europe simply aren’t ready. With our MiCA solution, we’re removing one small headache by providing the single interface that helps CASPs cut through the hassle of pulling sustainability data together, formatting an appropriate template, and providing the output that ESMA is looking for.”

“It’s another important step on our sustainability journey to develop the tools that will enable service providers to comply with current and future sustainability compliance requirements.”

Zumo is widely seen as a pioneer for its sustainability work in the digital assets sphere. The company was a member of the World Economic Forum’s Crypto Sustainability Coalition, recently signed the Abu Dhabi Sustainable Finance Declaration and has been recognised via a number of prestigious awards programmes.

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Mencom Strengthens European Presence with New Sales Office in the Netherlands

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OAKWOOD, Ga. and ALMELO, Netherlands, Sept. 25, 2024 /PRNewswire/ — Mencom Corporation, a global manufacturer of industrial connector solutions for power, control, signal and networking applications, has announced the opening of its new sales office in the Netherlands. This strategic move highlights Mencom’s dedication to serving its expanding customer base and distribution partners throughout the European Union.

The new Dutch office will function as a central hub for sales activities, product demonstrations, training sessions and client meetings. A dedicated team of sales professionals versed in Mencom’s product portfolio will offer tailored support and guidance to customers across the region.

“Our investment in a European sales presence allows us to better serve our customers and meet increasing demand for Mencom’s innovative solutions,” said Bruce Mistarz, CEO of Mencom Corporation. “With this expansion, we reinforce our position as a trusted partner delivering exceptional value to the European market.”

In conjunction with their acquisition of a manufacturing facility in the Czech Republic, this new Dutch office aims to streamline operations and ensure prompt product delivery across Europe. Plus, customers can anticipate service with local product availability and quicker response times. The company is committed to strengthening its presence in Europe while maintaining its commitment to customer satisfaction.

For any questions regarding Mencom’s new office in Europe, products, or customer support, please contact the following:

Mencom Europe
Windmolen 22
7609NN Almelo
The Netherlands

http://www.mencomcorp.eu
+31 548 659 054
europe@mencomcorp.eu

For details, contact:
Mark Dixon
Marketing Manager
Email: mark@mencom.com
Phone: (770)534-4585

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