BMO has announced that it has provided a Green Loan to Trinity College for construction of a new new residence and academic building on the post-secondary institution’s Toronto campus.

The college will use the funding to finance the construction of its Lawson Centre for Sustainability, a mass timber, zero carbon, LEED platinum multi-use building.

"This new flagship facility is the most significant building project Trinity College has undertaken in 100 years," said Professor Mayo Moran, Provost & Vice-Chancellor of Trinity College. "The Lawson Centre for Sustainability will enhance our historic campus and benefit students for generations to come.”

Currently under construction, the multi-use facility will add 14,450 square metres of residential, academic, social and dining spaces. Residential capacity on the Trinity campus will increase from 450 to 800 beds, responding to the need for more student housing and allowing more students to take advantage of the collegiate experience.

"As a leader in sustainable finance, we are proud to arrange the first labelled Green Loan to a North American university," said Jonathan Hackett, Head of Sustainable Finance, BMO. “Helping clients like Trinity College make progress towards their ESG goals, which include supporting sustainability education and practices, is a great example of the way we partner with organizations to create new and effective sustainable solutions."

Sustainability is at the core of the Lawson Centre's design and construction, as well as operation and maintenance. The leading-edge mass timber building will use geothermal heating and cooling as well as rooftop photovoltaics, triple-glazed windows, an underground cistern for rainwater collection and reuse, and locally sourced materials, including limestone and bricks.

Scheduled to open in 2025, the Lawson Centre for Sustainability is expected to receive the highest advanced levels of energy efficiency certifications, including LEED Platinum certification and the Canada Green Building Council Zero Carbon Building Design Standard. It will also aim to achieve the WELL standard to address the broader sustainability goals of the project and various United Nations Sustainability Development Goals.

Green Loans are lending products that support the banking industry’s Green Loan Principles, and can be used for projects that provide clear environmental benefits. BMO helped deliver Canada’s first Green Loan in 2021.