In Canada, there are no public "green" financing initiatives for sustainable real estate projects; however, there exists a limited number of private financing initiatives. For example, the Global Real Estate Sustainability Benchmark (GRESB) is a framework that is commonly used to make investment decisions for certain real estate projects. GRESB is an organization that collects, validates, scores and benchmarks environmental, social and governance (ESG) data, mainly for investors and asset managers. Commercial real estate projects with demonstrated commitments to ESG principles are best positioned to capitalize on relatively new financing mechanisms, including green bonds, green loans and sustainability bonds. In 2023, the Canadian Imperial Bank of Commerce partnered with Export Development Canada to create the Sustainable Finance Guarantee program, which provides financing to businesses that are working to transition to a low-carbon economy.