The Atmospheric Fund (TAF) is today announcing a $1 million investment in One Planet Living Fund (OPLF), a private equity fund focused on real estate projects that target net zero emissions.
Tackling emissions in the building sector – including by retrofitting existing buildings and avoiding new emissions from new construction – is a key focus for TAF, as buildings make up 43% per cent of carbon emissions in the GTHA. Projects funded through OPLF could reduce 3.2 million tonnes of carbon emissions a year in the Greater Toronto and Hamilton Area (GTHA) and help to spur on market transformation and building code improvements.
The OPLF will help developers to move to net zero buildings. It provides early-stage capital for projects that commit to rigorous standards of environmental responsibility and long-term sustainability, allowing developers to attract additional funds from traditional sources. The fund is professionally managed by a seasoned team and Windmill Development Group will oversee all aspects of planning, construction, implementation, and certification.
“The One Planet Living Fund objectives align perfectly with TAF’s mission to accelerate a carbon-neutral GTHA. Their unique combination of funds, connections to the development community, and expertise will help commercialize socially and environmentally responsible real estate, and provide investors like TAF with risk-adjusted returns,” says Tim Stoate, TAF’s VP of Impact Investing.
“Windmill has had a long history of working with TAF on various progressive approaches to lowering the carbon footprint of the built environment. We are very pleased to have TAF join with us on the OPL Fund. They are definitely a value-add investor and have proven to be instrumental in bringing other key investors and partners onboard,” says Jonathan Westeinde, CEO, Windmill Development Group.
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About The Atmospheric Fund
The Atmospheric Fund (TAF) is a regional climate agency that invests in low-carbon solutions for the Greater Toronto and Hamilton Area and helps scale them up for broad implementation. We are experienced leaders and collaborate with stakeholders in the private, public and non-profit sectors who have ideas and opportunities for reducing carbon emissions. Supported by endowment funds, we advance the most promising concepts by investing, providing grants, influencing policies and running programs. We’re particularly interested in ideas that offer benefits in addition to carbon reduction such as improving people’s health, creating local jobs, boosting urban resiliency, and contributing to a fair society. www.taf.ca
About Windmill Development Group
The Windmill Group (“Windmill”) is a visionary company focused on bringing into commercial application green building practices that deliver a competitive advantage over the traditional real estate model while still delivering market or better financial returns to investors. Green development programs encompass innovations in water, air, energy and waste management along with smart building technologies. With a management team of proven leaders in the areas of construction, development and environmental technology, Windmill has under one umbrella the expertise, execution ability and market presence to maintain a leadership position in this strategic growth industry. Windmill has led the industry with key milestones such as the first LEED Platinum for Neighbourhoods certification in North America (Docksidegreen, Victoria, BC), the first LEED Platinum multi-residential building in Canada (Acqu-Vento, Calgary, AB) and the first endorsed One Planet Living Community in Canada (Zibi, Ottawa, ON). www.windmilldevelopments.com, www.bioregional.com/one-planet-living, www.oneplanet.com, www.futureofgood.co/article-series/social-impact-real-estate/