2011 Energy – Co-winner 2
City of Montréal
The City of Montréal Energy Fund
In 2005, the City of Montréal committed to reducing its GHG emissions by 20 per cent by 2012 (compared to 2002 levels), and in 2007, adopted a corporate action plan entitled Climate Protection. The plan's cornerstone was the creation of an energy financial tool designed to optimize resources and provide funding for initiatives aimed at reducing greenhouse gas (GHG) emissions. This provision led to the creation of the city's Energy Fund in 2008.
This innovative approach to funding municipal energy efficiency projects works like an internal bank - financing projects that offer the best return on investment through no-interest loans. Funding recipients pay back the loans with the savings generated by their projects. Between June 2008 and December 2009, eight projects, selected on the basis of their financial and environmental return on investment, were awarded a total of $1,931,520 from the Energy Fund. The environmental impacts of the initiatives are measured in an annual GHG emissions inventory.
- The Energy Fund has helped the city to reduce GHG emissions by nearly 789 tonnes (of CO2 equivalent) over an 18-month period, exceeding the original target of 500 tonnes in the action plan.
- Funded projects have reduced energy costs by approximately $321,920 annually, and have helped improve the quality of facilities for the city's residents.
- In 2010, the city began upgrading four arenas where refrigeration systems using HCFC_22 (a flammable gas that is harmful to the environment) were converted to ammonia; the mean annual quantity of HCFC_22 eliminated is 1,407.6 tonnes per arena.