Discover CF's major investment in eco-friendly solutions at Pacific Centre and Waterfront properties
Cadillac Fairview (CF) is spearheading a major decarbonization effort in Vancouver, announcing a capital investment exceeding $9.5m for innovative decarbonization solutions at their CF Pacific Centre and Waterfront properties.
This initiative, a collaboration with the Honourable Hedy Fry, Member of Parliament for Vancouver Centre, and the City of Vancouver Representative, is part of a broader strategy to reduce carbon emissions significantly.
The decarbonization projects at CF Pacific Centre and Waterfront complexes will include advanced technologies such as heat recovery, storage, and sharing systems, along with domestic hot water electrification.
These efforts are expected to result in emission reductions of up to 3,000 tonnes of CO2 annually upon project completion. The projects, currently in the mobilization and design phase, aim for completion by October 31, 2026.
In addition to reducing carbon emissions, these projects are anticipated to deliver significant energy use reductions, estimated at 53,000 gigajoules annually.
This aligns with CF's commitment to environmental sustainability, demonstrated by their commissioning of comprehensive low carbon transition studies in 2022. These studies were instrumental in identifying impactful capital projects for their Vancouver property portfolio.
The drive for decarbonization is further strengthened by CF's achievement in obtaining Zero Carbon Building (ZCB) certification—a rigorous Performance Standard developed by the Canada Green Building Council (CaGBC).
In November 2022, seven buildings in CF's Vancouver office portfolio were awarded ZCB certifications, with four additional buildings receiving the certification in August 2023.
These initiatives position CF's Vancouver properties to comply with and exceed the City of Vancouver's carbon pollution limits for large commercial and multi-family buildings.
The city aims to cut carbon pollution from buildings by half compared to 2007 levels by 2030. CF aligns with this goal, committing to a net zero by 2050 target and an interim target of 35 percent emission reduction by 2030 from a 2017 baseline.
Rory MacLeod, EVP, Operations at Cadillac Fairview, expressed the company's motivation behind the investment, stating, “This announcement is about climate leadership—at an industry level, at a local community level, and by government.” He acknowledged the Federal and Provincial Governments' support in helping CF accelerate innovation towards a zero-carbon future.
Hedy Fry congratulated Cadillac Fairview on the innovative Heat Recovery and Energy Sharing projects at 700 West Georgia Street and 200 Granville streets.
Julie Dabrusin, parliamentary secretary to the minister of Environment and Climate Change and parliamentary secretary to the minister of Energy and Natural Resources, emphasized the crucial role of government and private sector collaboration in addressing the climate crisis.
She noted the significant emissions reductions from the project, equivalent to not burning 3.3 million pounds of coal every year.
Steven Guilbeault, minister of Environment and Climate Change, highlighted the importance of such projects, saying, “Through the Low Carbon Economy Fund, our government partners with climate leaders nationwide to cut emissions and help cities like the city of Vancouver achieve its net-zero targets.”
He added that every supported project brings Canada closer to a clean and sustainable future for all.
