Aéroports de Montréal to accelerate efforts to achieve carbon neutrality
Aéroports de Montréal (ADM) has signed a partnership agreement with SOFIAC to develop a large-scale energy efficiency and greenhouse gas (GHG) emission reduction project.
Decarbonisation, the implementation of innovative energy solutions, as well as significant energy cost and consumption reductions are said to be at the heart of the significant project, which will cover all airport infrastructure at the Montreal-Trudeau (YUL) as well as Mirabel’s International Aerocity.
ADM’s president and CEO, Philippe Rainville, said: “This partnership with SOFIAC will enable ADM to significantly accelerate efforts to achieve carbon neutrality.
“Our organisation is firmly committed to changing how we do things and being more proactive in the fight against climate change. Although the YUL air terminal emits the least GHG emissions compared to other Canadian airport terminals, we firmly believe that the innovative SOFIAC approach will help us further reduce emissions.
“Securing the future of the airline industry involves concrete actions that, as our initiative targets, help key players in the industry reduce their environmental footprints.”
Michel Méthot, CEO of SOFIAC, said: “We are starting the procurement phase of this infrastructure investment based on properly established benchmarks thanks to invaluable months of collaboration. This project will be reimbursed over a 15-year period solely by using a portion of the energy savings generated and will greatly contribute to our local green economy.”
This construction project will be rolled out over the next two years and is a precursor to a long series of SOFIAC projects that will allegedly generate local economic benefits amounting to tens of millions of dollars.
According to both parties, the SOFIAC intermediary mechanism “eliminates barriers to the implementation of energy efficiency infrastructure projects and successfully aligns the needs of clients with those of key stakeholders in the energy efficiency market, namely high-quality entrepreneurs, equipment suppliers, and consultants.”
This first large-scale project demonstrates SOFIAC’s commitment to the energy transition and the interesting financing and intermediation market aspects of the innovative SOFIAC approach.
SOFIAC was launched in January 2021 by Econoler and Fondaction with the support of the ministère de l’Énergie et des Ressources naturelles du Québec (MERN).
ADM notes that it is committed to achieving precise sustainability objectives including energy efficiency improvements, significant GHG emission reductions, water consumption reductions, and the ultimate objective of zero waste.