Wednesday, April 24, 2024 
Wednesday, April 24, 2024
June 5, 2020
Coinciding with World Environment Day, KingSett Capital, on behalf of its Canadian Real Estate Income Fund (CREIF) is pleased to announce that Scotia Plaza’s 40 King St. W.* building in Toronto has earned a Zero Carbon Building – Performance v2 Certification from the Canada Green Building Council (CaGBC). The designation marks an important milestone for owners KingSett Capital, Alberta Investment Management Corporation (AIMCo) and James Richardson & Sons Limited (JSRL) as it is the largest certified Zero Carbon Building in Canada at more than 1.5 million square feet.
Scotia Plaza’s 40 King St. W. zero carbon achievement is a result of teamwork and partnership between the building’s owners KingSett Capital, AIMCo and JRSL, the property management team of BentallGreenOak and lead tenant Scotiabank.
“We congratulate KingSett Capital on achieving Zero Carbon Building – Performance v2 certification, making Scotia Plaza’s 40 King St. W. both the largest ZCB-certified building yet and the very first under the newly updated Standard,” said Thomas Mueller, President and CEO of Canada Green Building Council. “KingSett’s achievement validates that zero carbon buildings – whether new builds or retrofits – are both technically and financially feasible for owners willing to innovate and invest in a low carbon future for Canada.”
Quotes
“On World Environment Day, we are delighted to announce Scotia Plaza’s 40 King St. W. Zero Carbon Building certification. This would not have been possible without the collaboration and ongoing efforts of the owners, property management team, customers and employees. We continue to create value and drive change through our commitment to reducing the carbon emissions of our properties.”
–Jon Love, CEO KingSett Capital
“We are proud to see Scotia Plaza’s 40 King St. W. – in which Scotiabank is the primary tenant – be certified as the largest Zero Carbon Building certified in Canada. As we make efforts to decarbonize our own operations though Scotiabank’s Climate Commitments and support our clients in the transition to a low-carbon economy, we applaud KingSett Capital for their climate efforts, which demonstrate our collective action and dedication to sustainable business practices.”
–Meigan Terry, Senior Vice President, Global Communications and Social Impact, Scotiabank
“The achievement of Zero Carbon Building certification at Scotia Plaza’s 40 King St. W. serves as a further demonstration of AIMCo’s commitment to sustainable real estate development, on behalf of our clients, and the dedication of our investment, operating and tenant partners.”
–Micheal Dal Bello, Senior Vice-President Real Estate, AIMCo
About Scotia Plaza
Scotia Plaza’s 40 King St. W. has a Transition Plan in place to remove all carbon-intensive mechanical system over the next 18 months. The building is going beyond the Zero Carbon Building – Performance v2 certification’s latest zero carbon balance requirements by also offsetting its emissions from waste-to-landfill generated onsite using Gold Standard certified carbon offsets. The building has also achieved the largest Fitwel certification in Canada for a Multi-Tenant Base Building. Developed by the CDC, this world-leading certification system promotes occupant health and wellbeing across seven health impact categories by incorporating evidence-based design and policy strategies to support physical, mental and social health within the space. Other environmental certifications include LEED Platinum and WiredScore Certified: Gold. Please see the building backgrounder for more environmental sustainability technologies and processes.
To read about the full Canada Green Building Council Zero Carbon Building (ZCB) Standard, please go to CaGBC.org/zerocarbon.
About KingSett Capital
KingSett Capital is Canada’s leading private equity real estate investment firm. Since 2002, KingSett has raised over $11 billion of equity and completed $40 billion of investment transactions on behalf of its Growth, Income, Urban and Mortgage funds. Currently, KingSett’s various funds have $13 billion under management in a portfolio of $15 billion.
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