Highlights from our Impact Report
A snapshot of our work
|Total green bond $ raised for clean energy||$300K||$23.4M|
|Total number of investors||36||754|
|Total number of loans made||4||20|
|Total number of projects supported||172||1754|
VCIB Clean Energy Financing
Frequently Asked Questions
Who was CoPower?
CoPower was a sustainable investment company and a leading provider of financing to clean energy and energy efficiency projects. CoPower’s unique green bond model connected individual retail investors with clean energy and energy efficiency projects seeking financing.
What is the relationship between CoPower and VCIB?
In 2019, VCIB acquired CoPower as a wholly owned subsidiary. In 2021, as part of ongoing integration efforts, the decision was made to winddown CoPower’s green bond fundraising model and transition its clean energy lending business to VCIB.
Why was the decision made to winddown the CoPower Green Bond model?
The CoPower Green Bond model relied on the ‘spread’ between the interest rate charged on the clean energy project loans and the rate paid to green bond investors to cover operating costs associated with fundraising, lending, and managing the portfolio, technology, and investors. A continuing low-rate environment made it increasingly challenging to lend to great projects and issue private bonds at competitive rates while making those economics work.
Through this integration, VCIB’s clean energy team can continue to lend to projects at a lower cost of capital than was possible through CoPower. This is ultimately a positive thing, as a competitive clean energy finance market where projects can benefit from low interest rates will accelerate the transition to net-zero.
Where can I find other responsible and impact investment opportunities?
There are some great options available through the Vancity Group, which has been a leader in the space for many years. If you are investing on behalf of an organization or through a corporate entity, you can consider investing VCIB Impact GICs, which directly support the bank’s lending to impactful businesses, social purpose real estate, and clean energy projects. If you are an individual investor in Ontario, Alberta or BC, we would be happy to connect you to a wealth planner, wealth advisor or portfolio manager at Vancity Investment Management.
For a list of other impact investment products, check out openimpact.ca. The RIA marketplace is another good resource for a broad range of responsible investment products, as well as investment professionals who specialize in helping investors align their portfolios with their values.