- First post-secondary institution in North American to
secure a labelled Green Loan
TORONTO, Dec. 18,
2023 /CNW/ - Trinity College is the first
post-secondary institution in North
America to secure a labelled Green Loan for its new
residence and academic building – the Lawson Centre for
Sustainability. Arranged by BMO, the Green Loan will be used to
finance the construction of Trinity
College's ambitious new mass timber, zero carbon, LEED
platinum multi-use building.
"This new flagship facility is the most significant building
project Trinity College has undertaken
in 100 years – something made possible by the generosity of our
alumni who have given unprecedented levels of support to the Living
Trinity Campaign. The Lawson Centre for Sustainability will enhance
our historic campus and benefit students for generations to come,"
said Professor Mayo Moran, Provost
& Vice-Chancellor of Trinity
College, a university federated with the University of Toronto. "Through the new Lawson
Centre for Sustainability and our innovative Integrated
Sustainability Initiative, we are building upon our commitment to
the environment, promoting wellness, and creating a new student
experience model in which sustainability education and practices
are integrated into daily life at the College."
Currently under construction, the multi-use facility will add
14,450 square metres of residential, academic, social and dining
spaces for the community. Residential capacity on the Trinity
campus will increase from 450 to 800 beds, responding to the need
for more student housing and allowing more students to take
advantage of the collegiate experience.
"Inspired by our Purpose, to Boldly Grow the Good in business
and life, BMO's Climate Ambition is to be our clients' lead
partner in the transition to a net zero world," said Jonathan Hackett, Head of Sustainable Finance,
BMO. "As a leader in sustainable finance, we are proud to arrange
the first labelled Green Loan to a North American university.
Helping clients like Trinity College
make progress towards their ESG goals, which include supporting
sustainability education and practices, is a great example of the
way we partner with organizations to create new and effective
sustainable solutions."
Sustainability is at the core of the Lawson Centre's design and
construction, as well as operation and maintenance. The
leading-edge mass timber building will use geothermal heating and
cooling as well as rooftop photovoltaics, triple-glazed windows, an
underground cistern for rainwater collection and reuse, and locally
sourced materials, including limestone and bricks.
"Through our Integrated Sustainability Initiative, innovative
sustainability programming will also be available to students, from
academic and co-curricular initiatives to research opportunities
and experiential learning, along with a farm-to-table program,
community kitchen for teaching and learning, and food-systems
research," said Provost Moran, noting that the landscape plan
includes unique native species ecology zones, two new courtyard
spaces and open green space for a variety of activities, along with
the George and Martha Butterfield Rooftop Farm.
Scheduled to open in 2025, the Lawson Centre for Sustainability
is expected to receive the highest advanced levels of energy
efficiency certifications, including LEED Platinum certification
and the Canada Green Building Council ("CaGBC") Zero Carbon
Building Design Standard. It will also aim to achieve the WELL
standard to address the broader sustainability goals of the project
and the United Nations Sustainability Development Goals # 9
(Industry, Innovation and Infrastructure), # 11 (Sustainable Cities
and Communities), # 12 (Responsible Consumption and Production) and
# 13 (Climate Action).
The green financing is issued under Trinity
College's Green Financing Framework, which is aligned with
the International Capital Market Association ("ICMA") Green Bond
Principles 2021 ("GBP") as well as the Loan Market Association
("LMA") Green Loan Principles 2021 ("GLP") and received a positive
Second Party Opinion by DNV Business Assurance Services UK Limited
("DNV").
BMO and Sustainability
Carbon neutral in its own operations since 2010, BMO
announced in March 2021 its Climate
Ambition to be its clients' lead partner in the transition to a
net-zero world. This goal built on a previous commitment to
mobilize $300 billion (CAD) in sustainable lending and
underwriting to companies pursuing sustainable outcomes by 2025. In
2021, BMO launched the BMO Climate Institute and established
a dedicated Energy Transition Group, to support clients'
pursuit of opportunities driven by the increasing momentum of the
global economy's shift in production and consumption of energy.
BMO's sustainability leadership has been recognized on a number
of global rankings, including number one bank on the World
Benchmarking Alliance's 2022 Financial System Benchmark, the Dow
Jones Sustainability Index, Ethisphere Institute's list of the
World's Most Ethical Companies, and the most sustainable bank in
North America for the fourth year
in a row on Corporate Knights' 2023 Ranking of the World's 100
Most Sustainable Corporations.
For information on BMO's Purpose and commitments to a
sustainable future, visit its Sustainability Report,
Purpose, Climate and Zero Barriers to Inclusion
2025 pages.
About BMO Financial
Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of
$1.3 trillion as of October 31, 2023. Serving customers for 200 years
and counting, BMO is a diverse team of highly engaged employees
providing a broad range of personal and commercial banking, wealth
management, global markets and investment banking products and
services to over 13 million customers across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life,
BMO is committed to driving positive change in the world, and
making progress for a thriving economy, sustainable future, and
inclusive society.
View original
content:https://www.prnewswire.com/news-releases/bmo-arranges-green-financing-to-fund-new-lawson-centre-for-sustainability-trinity-colleges-most-significant-build-in-a-century-302017532.html
SOURCE BMO Financial Group