VCIB and Accelerate partner on the path to net-zero

Thursday, June 16, 2022: Vancouver B.C./Territories of Musqueam, Squamish and Tsleil-Waututh Nations – Accelerate is pleased to welcome Vancity Community Investment Bank (VCIB) as its newest Impact Partner, enabling research into the positive economic impact and labour force activity generated through Canada’s Zero-Emission Vehicle (ZEV) supply chain.

“As an Impact Partner, VCIB will be an important part of Canada’s ZEV future, and we look forward to collaborating to grow Canada’s zero emission vehicle industry,” said Matthew Fortier, Accelerate President and CEO. “This partnership shows that the financial services sector is integral to building and fostering a successful and competitive ZEV ecosystem.”

VCIB will use its experience building a resilient economy to help examine opportunities and challenges within various segments of the ZEV ecosystem and will leverage its cleantech sector expertise to further support and engage with Accelerate’s growing membership.

“Advancing the adoption of zero-emission vehicles is essential to decarbonizing the transportation sector, while supporting the mobility of workers through a just transition,” said Jonathan Frank, Head of Business Development, Clean Energy, Vancity Community Investment Bank. “Joining Accelerate builds on our decades of leadership in environmental sustainability and economic inclusion, and supports Vancity’s commitment to be net-zero by 2040,” continued Jonathan.

Canada will be better positioned to attract foreign investment and vehicle mandates by developing a strong and integrated ZEV supply chain. Crucially, expanding the vehicle sector will support a just transition for hundreds of thousands of workers who build parts, repair or assemble combustion engine vehicles. Mobilizing other sectors to ally with the vehicle industry will also open opportunities within clean energy, responsible mining and battery assembly and create more high-value jobs, including in software and AI design.

“Accelerate is focused on developing an essential part of Canada’s industrial future – one that is clean, that drives cross-sectoral economic activity and provides a just transition for Canadian workers,” said Fortier. “VCIB will be a key partner as we work towards a new ZEV future.”

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About Accelerate

The Accelerate Alliance is a national initiative bringing together key players across Canada’s Zero Emission Vehicle (ZEV) supply chain, from mining to battery R&D, commercialization, parts and vehicle assembly and charging infrastructure. Accelerate enables this emerging industry to collaborate, strategize and advocate for priorities that will catalyse the development of a ZEV supply chain in Canada.

Accelerate is a rapidly growing community of companies, organizations and associations representing all sectors of the ZEV supply chain. A full list of members can be found at: https://acceleratezev.ca/our-members/

About VCIB

VCIB is an Ontario-based schedule 1 federally chartered bank and a subsidiary of Vancity Credit Union. As Canada’s first values-driven bank, VCIB provides banking, investing, and financing solutions, to help purpose-driven businesses and organizations thrive, grow, and foster change. Additionally, VCIB offers specialized financing solutions for social purpose real estate and clean energy projects. VCIB is a certified B Corporation and a member of the Global Alliance for Banking on Values. For more information, visit vcib.ca, tweet us at @BankVancity and connect with us on LinkedIn.

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Vancity Community Investment Bank is a member of CDIC and is a Certified B CorpTM