The Decibel
How a little known bank is trying to build big things in Canada
Oct 1, 2024
Adam Radwanski, a journalist from The Globe and Mail covering climate policy, dives into the challenges faced by the Canada Infrastructure Bank since its inception in 2017. He explores how the bank aims to reshape its reputation through significant projects like the Oneida Energy Storage Project, positioning itself as a leader in sustainable energy. Radwanski also discusses the bank's political hurdles and the potential impacts if conservative parties gain power, raising questions about its future viability and the necessity of private sector involvement.
24:25
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Quick takeaways
- The Canada Infrastructure Bank aims to revive its reputation by effectively financing approximately 70 projects worth $36 billion aligned with climate goals.
- Facing political skepticism and threats of abolition, the bank has shifted focus to smaller initiatives like electric school buses and energy-efficient retrofits.
Deep dives
Canada Infrastructure Bank Objectives
The Canada Infrastructure Bank (CIB) was established to bridge the growing gap in infrastructure needs across Canada. It aims to facilitate large-scale projects that may be too risky or financially unattractive for private investors alone. These projects often require a combination of public and private funding, with an emphasis on generating significant public benefit. The bank focuses on areas like clean power, public transit, and green infrastructure, aligning with both economic growth and climate goals.
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