These days, it’s hard to avoid getting caught up in the heat of the moment — literally, that is.
Last week’s heat dome elevated temperatures in Ontario and Quebec to a scorching 35C; add in the oppressive humidity, and it felt more like 40. Those sky-high measurements aren’t just uncomfortable, they pose a significant danger to our health. Statistics Canada recently released the results of a new 20-year data review, which found that extreme heat events significantly elevate the risk of non-accidental mortality. Between 2000 and 2020, excessively high temperatures were a factor in roughly 700 excess deaths across the country.
When the mercury rises, residents of Toronto and Montreal should be on particularly high alert: According to the same report, those are the country’s most dangerous cities during heat waves. It’s no coincidence they’re two of the three municipalities in Canada with the highest proportion of renters. In Toronto, where 250 non-accidental excess deaths over two decades were directly attributable to extreme heat, tenant and environmental groups are urging the city to develop bylaws that would ensure the temperature in residential buildings never climbs above 26C.
Maximum temperature regulations make sense, but adhering to those guidelines comes with its share of complications. For one, air conditioning contributes to climate change, which is a key factor in extreme weather — cooling systems run on fossil fuel–generated electricity, and they use refrigerants that add to global warming. And if a landlord does not reside in a building, they’re often less inclined (and able) to adjust the thermostat when needed.
That’s why smart solutions can be essential. Toronto-based Parity, which recently closed a $26-million series B fundraising round, has developed an HVAC optimization system for high-rises, multi-tenant buildings and hotels that can be controlled remotely. As CEO and co-founder Brad Pilgrim explains, the company’s tech uses an algorithm to assess the demands on a building’s system, and calibrates the controls “to autonomously operate the heating, cooling and ventilation equipment more effectively, which saves energy and reduces CO2 emissions.”Unlike many conventional smart thermostats, Parity adjusts HVAC settings based on data, such as weather forecasts, time-of-use electricity pricing and grid signals to meet demand while lowering emissions and cost. “It’s a balancing act that can only be accomplished by having a lot of data and control,” says Pilgrim.
Although the heat dome may be behind us, extreme heat events are becoming more common due to the climate crisis. A 2019 report by Environment and Climate Change Canada found that Canada is warming about twice as fast as the rest of the world — and there’s a clear consensus that human activities are to blame. Tech like Parity’s will be crucial in the future to cool our homes as effectively and sustainably as possible.
Stepping up to support underserved entrepreneurs
The Business Development Bank of Canada (BDC) is committing$250 million to support women, Black and Indigenous entrepreneurs. The plan includes two $100-million platforms under BDC Capital focussed on Indigenous and Black-led ventures, as well as a $50-million loan and training program for underrepresented entrepreneurs. The bank will also create a new internal team to support these entrepreneurs.
New legislation aims to combat environmental racism
Indigenous, Black and other racialized communities are disproportionately affected by pollution. But Elizabeth May is hoping to change that. The Green Party leader was instrumental in sponsoring Bill C-226, which became law on June 20. The legislation compels the federal government to tackle environmental racism within two years through a national strategy that includes examining links between race, socio-economic status and environmental risk and outlining steps that can be taken to address these issues.
Indigenous fund completes successful first close
In line with the Truth and Reconciliation Comission’s Call to Action #92, which highlights the need for opportunities and equity for Indigenous Peoples within Canada’s corporate sector, Raven Indigenous Capital Partners, Canada’s first Indigenous-focused venture capital firm, recently completed its first close of the Raven Indigenous Outcomes Fund — a new brand launched in 2023. The group raised $20.4 million in its initial round of funding, just under half of its ultimate target of $50 million, which will be directed toward addressing climate and health issues in Indigenous communities across Canada.
Speeding up the construction process
To help address the housing shortage, tech incubator DMZ and GroundBreak Ventures are banding together to support startups and organizations that are tackling the issue from different angles. The cohort includes such solutions as Toronto-based Promise Robotics’s homebuilding robotic factory and Tapestry Community Capital’s social finance tool, which helps community housing organizations raise low-cost capital.
By the numbers
US$200 million: Theamount raised by Toronto-based autonomous truck company Waabi.
$4.1 million: Seed funding raised by Chexy, a Toronto rewards platform for renters.
Nine: The number of Ottawa-based ventures that received a total of nearly $20 million in investments from the Federal Economic Development for Southern Ontario. The companies receiving funds are: Viriva Biotech, Genvira Biosciences, Capital BioVentures, Ranouvus, Armstrong Monitoring, Larus Technologies, ThinkRF, TryCycle Data Systems and TutorOcean.
US$10 million: The total amount secured by AlumaPower in its recent Series A funding round. The Sarnia, Ont.-based cleantech company is developing a zero-emissions alternative to diesel generators powered by scrap aluminum.
Rebecca Gao writes about technology for MaRS. Torstar, the parent company of the Toronto Star, has partnered with MaRS to highlight innovation in Canadian companies.
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