While Canada has set a deadline to achieve net-zero greenhouse gas emissions by 2050, several provinces and cities, including Toronto and Prince Edward Island, have made commitments to reach that goal a decade earlier. To do so, all of their existing buildings and houses will need to be retrofitted so they no longer use fossil fuels.

The building sector is the third-largest source of emissions in Canada. In Toronto, buildings make up 58 per cent of the city’s total emissions, mostly from burning fossil fuels for heating, cooling and hot water.

The push to cut these emissions will be expensive. The Pembina Institute estimates the federal government, in partnership with provinces and utilities, will need to invest $10 billion to $15 billion per year over the next 20 years to reach its net-zero commitment.

“This might seem like a big number, but the economic opportunity is significant; this could create up to 200,000 long-lasting, well-paid jobs and generate more than $48 billion in economic development each year,” said Jessica McIlroy, senior analyst for the Pembina Institute’s buildings program.

“Cities and provinces are moving very quickly on net-zero new construction, but it’s important to remember that 80 per cent of the buildings that will exist in 2050 have already been built. To meet our net-zero commitments, Canada needs to upgrade 600,000 existing homes and 750 million square metres of existing commercial space per year between now and 2040.”

That means upgrading insulation and ventilation, and switching from fossil-fuelled heating and cooling to cleaner options, she said.

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