On Sunday, May 3, over 20 daily heat records were broken across BC. Without immediate action, more people will die. Today, BC Leaders are going to Victoria with a solution.
BC is getting hotter and smokier. By upgrading 5,000 low-rise buildings with energy-efficient heat pumps, BC can turn heat traps into safe havens for over 175,000 residents. Saving lives. Saving money. And creating jobs.
VICTORIA, BC, MAY 5, 2026 — With BC bracing for another predicted extreme heat season, a delegation representing private, public and community leaders across BC's housing, finance, energy and manufacturing sectors arrived at the Legislature today to present the Province with a market-ready proposal to retrofit 5,000 low-rise apartment buildings.
The business case, developed over two years by Urban Climate Leadership’s ‘Keep it Cool’ Initiative, and informed by 250 leaders across more than 100 businesses and organizations, shows the investment would unlock $4.2 billion in private capital, protect over 175,000 residents from unsafe indoor heat and air, create 1,900 good jobs annually, and catalyze a $15 billion retrofit economy.
The cost of inaction is rising. With record heat already reported across BC this spring, forecasters predicting another severe heat season, and energy costs continuing to rise, the province faces a narrowing window to act before the next preventable crisis.
“B.C. has been here before. Low-rise apartments and condominiums are where heat risk, rising energy costs, and housing instability are converging,” said Shauna Sylvester, Founder and Lead Convenor of Urban Climate Leadership. “We have a plan and the right partners. What’s needed now is a provincial commitment to act at the scale required to protect people’s health and wallets. That’s why we are in Victoria.”
The plan presents a fully developed business case that reduces financial risk for property owners, tenants, and lenders, making it easier for private capital to flow into retrofits that would otherwise stall. It includes government-backed loan reserves, workforce training, support to help building owners and managers navigate retrofits and financing and support for a homegrown B.C. manufacturing, technology and innovation sector.
The impacts extend beyond housing. Targeted retrofits would also reduce heat-related hospitalizations by up to 40 per cent, saving an estimated $20 million annually in healthcare costs, cut choking emissions by the equivalent of taking about 160,000 cars off the road every year, while avoiding up to $1.5 billion in costly electricity grid expansion costs.
“The private sector is ready to move on this,” said Bill Cunningham, Vice President, Business & Commercial Banking at Vancity. “We have been financing housing retrofits in BC because we know the demand is real and the need is urgent. What this business case does is change the equation for the whole market. When the government provides the right support, private capital follows at scale. A $470 million provincial commitment attracting $4.2 billion in private investment is not a cost. It is one of the most efficient economic development tools available to this province right now.”
BC already leads Canada on net-zero standards for new buildings. The harder test — retrofitting the thousands of existing homes where people already live, in buildings that have been neglected for too long — is one that will define the province’s legacy on housing, health, and climate. With provincial budgets moving into implementation and the federal government designating electrification a national priority, the group is calling on the province to act before the window closes. The business case is built. The partnerships are in place. The investment is ready to flow. What is needed now is a provincial decision to scale.
View the draft slide deck and business case.
Media briefings and Interviews are also available in person on May 5th at the Hotel Grand Pacific, South Pender Island Ballroom. 463 Belleville St, Victoria, BC, from 11:30 am to 12:30 pm, and can be arranged through Wanjiru Munene at media@urbanclimateleadership.org | +1 (437) 985 7757
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Key facts
$470M provincial investment requested
$4.2B+ in private capital unlocked
5,000 low-rise apartment buildings retrofitted
$5 to $7 in public return for every $1 invested
$15B retrofit economy catalyzed for BC innovation, technology, jobs, and manufacturing
~1,900 good long-term green jobs created annually
175,000 residents protected from extreme heat
$1.5B in avoided electricity grid expansion costs
40% reduction in heat-related hospitalizations, $20M/year healthcare savings
0.41–0.73 MtCO₂e/year reduced emissions,
About the Keep It Cool Initiative
The Keep It Cool Initiative is a made-in-BC economic development strategy developed over 18 months, informed by 250+ leaders and 100+ organizations across BC’s housing, finance, energy, manufacturing and community sectors. It presents a ready-to-implement business case to transition 5,000 low-rise apartment buildings to energy-efficient heat pumps at scale. The full business case is available here.
About Urban Climate Leadership
Urban Climate Leadership is a pan-Canadian project of MakeWay that removes obstacles to equitable climate action by local governments and communities. Learn more at: https://www.urbanclimateleadership.org/about
Media contact: Wanjiru Munene, Communications Director, UCL | media@urbanclimateleadership.org | +1 (437) 985 7757
