Heat Pump Initiative Would Turn Local Climate Crises Into Opportunity

This story was originally published by The Energy Mix on September 17, 2026

Credit: The Energy Mix

Watch the full interview [here].

The Better Ideas Show brought together more than three dozen guests during Prime Minister Mark Carney’s Canada Investment Summit to talk about nation-building projects that are practical, affordable, and ready to build the new climate economy that will diversify our trade and protect Canada’s sovereignty.

Watching Mark Carney’s Canada Investment Summit from the sidelines, Shauna Sylvester, founder and lead convener of Urban Climate Leadership, posed a critical question: how will mobilized capital support the communities where it lands?

Sylvester reframes building energy retrofits—starting with protecting residents from extreme heat in older apartments—as a major investment opportunity, rather than just a climate imperative.

In British Columbia alone, that effort represents a $4.2-billion lift, according to research by Urban Climate Leadership.

“Let’s look across the country,” Sylvester told The Energy Mix. “We’re talking about retrofitting buildings. Think about the work forces involved, electricians, plumbers, contractors.”

Beyond installation, Sylvester points to the broader potential for manufacturing innovation and domestic supply chains for components like heat pumps and specialized window framing. With all of those elements factored in, nation-wide energy retrofits can become a multi-trillion-dollar investment opportunity.

“What we want to be doing is looking at how we create and support the existing innovation and manufacturing sectors, because we have them in Canada,” Sylvester said. “ We don’t want them to leave to go to the United States.”

This story is part of The Energy Mix’s partnership with Small Change Fund.