Latest news with #ChrisManning
Cision Canada
4 days ago
- Business
- Cision Canada
Canada Infrastructure Bank commits $100 million towards Building Retrofits with Scotiabank Français
Accelerating energy-efficient upgrades in commercial, industrial, office, and multi-residential buildings. Each upgraded building is expected to reduce annual emissions by a minimum of 30 per cent. Partnership will reduce energy use in buildings and save owners long-term operating expenses. TORONTO, June 10, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) is expanding its Building Retrofit Initiative (BRI) by forming a $100 million partnership with Scotiabank to finance deep energy retrofits across their commercial real estate clients in Canada. The loans to building owners will support the modernization of their assets and reduce their environmental impacts. Through this collaboration, Scotiabank clients—including owners of commercial, industrial, office, and multi-residential buildings—can access low-cost, flexible financing to undertake upgrades that cut emissions by at least 30 per cent. Eligible projects include: building envelope improvements, heating and cooling system upgrades, automation and fuel switching, lighting and electrical system upgrades and the installation of electric vehicle charging infrastructure. Buildings account for approximately 18 per cent of national emissions. By targeting this sector, the Canada Infrastructure Bank and Scotiabank aim to reduce energy use in buildings and save owners long-term operating expenses. Scotiabank Commercial Banking Real Estate clients can now access low-cost financing to modernize their buildings. Scotiabank will identify commercial property owner clients who are motivated to undertake energy efficiency retrofits. Scotiabank will also market, originate, underwrite, and administer the loans on behalf of the partnership. As a result, there will be upgraded buildings across Canada, intended to improve quality of workplace environments for workers, and additional jobs to modernize and retrofit assets. This marks the Canada Infrastructure Bank's second partnership with a Canadian financial institution under its BRI, creating a model for other banks to support small- and medium-sized building owners in accessing retrofit financing. Endorsements: Our Building Retrofit Initiative has enabled building owners across Canada to move quickly on deep retrofits. With over $1 billion already committed, we're now expanding our reach to accelerate more building upgrades across Canada. Our partnership with Scotiabank allows us to scale impact by leveraging their client network and expertise. Ehren Cory, CEO, Canada Infrastructure Bank Scotiabank is proud to offer access to low-cost financing to our clients and to assist them in modernizing their buildings. More energy-efficient buildings typically have lower operating costs and may have a rental premium, increasing the building's value. With this partnership with CIB, we are committed to providing building owners access to low-cost capital for building retrofits investments. Chris Manning, Executive Vice President, Canadian Commercial Banking, Scotiabank This partnership between the Canada Infrastructure Bank and Scotiabank is a smart, forward-looking investment in Canada's building stock and in the people who work, live, and gather in these spaces every day. By unlocking capital for sustainable retrofits, we're helping to cut emissions, lower energy costs, and create good jobs — while building healthier, more resilient communities across the country. Leslie Church, Member of Parliament for Toronto–St. Paul's — Parliamentary Secretary to the Secretaries of State for Labour, for Seniors, and for Children and Youth, and Parliamentary Secretary to the Minister of Jobs and Families (Persons with Disabilities) About Scotiabank Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank.
Yahoo
12-03-2025
- General
- Yahoo
Crews make discovery while restoring Troy's oldest building
TROY, Ohio (WDTN) — Last December, a massive fire severely damaged the oldest building in Troy. As crews began work to salvage the building, they discovered something they weren't expecting. In December of 2024, the Overfield Tavern Museum went up in flames, nearly destroying the interior of one of the oldest buildings in Ohio. The structure was salvageable and now museum employees are working hard to restore the historic building. Cedarville student involved in Pennsylvania plane crash As crews begin work to save the museum, they started removing the exterior parts of the structure that were destroyed. These additions were not part of the original building, but added later to improve the integrity of the structure. By removing those exterior pieces, clean-up crews uncovered parts of the initial structure, finding that the original walls and back log were in tact and visible. 'Those portions of the building covered by those additions were protected for a number of years, about 175 years,' said Chris Manning, executive director of the Overfield Tavern Museum. 'And that's why we can still see the original siding.' These portions of the wall appear to be untouched by the fire and still in fair condition. Manning says this is great news, as restoring the building is very important for the city of Troy and its history. 'They recognize that it is part of the core history of the community. In fact, we like to say it is where the community of Troy was born,' said Manning. The museum says they are hoping to have a portion of the building back open to the public in time for July 2026, when the United States will celebrate 250 years since signing the Declaration of Independence. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
