Moderator:

Steven Pacifico
Associate Executive Director, Building Decarbonization Alliance

Speakers:

Michaela Neuberger
Executive Director, Affine Climate Solutions

Dave Black
Head of Risk Advisory, Jones Lang LaSalle (JLL)

Philippe Hudon
President and Founder, Akonovia

Jamie Gray-Donald
President, Recursive Advisors

Valuing Climate-Aligned Buildings

Webinar Summary

Canada’s building sector is at a turning point where performance, risk, and financial value are becoming increasingly interconnected. While decades of international evidence and early analysis of the Canadian market demonstrates that sustainable buildings deliver better financial outcomes, lower operating risk, and more resilient long-term value, this evidence has not yet shifted Canadian investment and lending practices at scale.

This webinar will explore how emerging Canadian initiatives — including the Banking on Buildings Program and Québec’s Sustainable Finance White Paper — are beginning to align building performance, valuation, and finance. Through short expert presentations and a moderated discussion, speakers will share case studies, market signals, and practical pathways for owners, lenders, appraisers, and policymakers to strengthen underwriting, valuation outcomes, and access to climate-aligned capital.

Moderator

Steven Pacifico

Associate Executive Director, Building Decarbonization Alliance

Steven Pacifico is an energetic and motivated sustainability practitioner with over 25 years’ experience in the environmental and sustainability sector—working with corporations, government, and NGOs. Steven’s experience is focused on developing sustainability and stakeholder engagement business strategies. Steven previously worked as the Executive Director of the Zero Carbon Buildings Accelerator Program for Toronto 2030 District, helping to ignite the building electrification market in the downtown core for commercial buildings.

In addition, Steven previously worked as the Vice President, Sustainability, Innovation, and National Programs for Epic Investment Services, a commercial real estate company, comprising over $17.5B and 30+ million square feet of assets under management in office, retail, industrial, and multi-family residential asset classes extending across Canada and the USA. Prior to Epic, Steven led Energy Exchange, an organization dedicated to energy/climate literacy and policy development.

Steven was also the Director of Sustainability and Stakeholder Engagement for The Delphi Group—Canada’s first environmental consulting company. Steven has a Master of Environmental Studies in Business, Sustainability, and Change Management from York University and the Schulich School of Business, and a Bachelor of Environmental Sciences, with Honours, from the University of Guelph.

Michaela Neuberger

Executive Director, Affine Climate Solutions

Michaela Neuberger leads Affine Climate Solutions and the Banking on Buildings Program, a national sustainable finance initiative aligning building performance with valuation, underwriting, and preferential financing. She brings more than 18 years of experience across the private and public sectors, including operational improvement work in the construction industries of England, Germany, and France, and market transformation work in Canada with BC Hydro and the City of Vancouver.

Dave Black

Head of Risk Advisory, Jones Lang LaSalle (JLL)

With almost 20 years of experience, Mr. Black is recognized as one of Canada’s foremost appraisal experts. His expertise lies in the valuation of complex real estate assets across the country, with a particular focus on regional shopping centres and downtown office complexes, primarily working on behalf of Canada’s largest Pension Funds, REITs, and Investment Managers.

Dave continues to play a pivotal role in delivering some of JLL’s most significant property and portfolio valuations while simultaneously leading the Canadian V&RA Team. His involvement extends to numerous global committees and initiatives within JLL, contributing to a network of 2,200+ sector experts who collectively appraise more than $3 trillion of global assets annually.

Philippe Hudon

President and Founder, Akonovia

Philippe Hudon is the founder and President of Akonovia and the initiator of the White Paper on Sustainable Real Estate. With over 15 years of experience in energy efficiency, decarbonization, and building performance advisory, he supports owners, developers, and financial stakeholders in aligning building performance with long-term value creation and risk management. He has led major real estate projects across Québec and regularly presents at industry conferences and professional forums.

Jamie Gray-Donald

President, Recursive Advisors

Jamie Gray-Donald is a real estate and sustainable finance strategist focused on using sustainability and building performance to drive stronger financial returns and lower risk across real estate portfolios. With over 20 years of experience, he works with building owners, lenders, governments, and institutional investors to translate energy, carbon, and resilience data into improved valuation outcomes, credit performance, and capital efficiency.

Jun 23, 2026