While development of the AEB has begun to take shape over the last several years, leading jurisdictions have been exploring alternatives to regulating retrofit activities beyond conventional codes, namely minimum energy performance standards (MEPS). MEPS are a type of building performance standard that can drive deeper and more certain energy savings and emissions reductions, and faster. Set at a national, provincial/territorial, or municipal level MEPS set predefined minimum energy performance standards for specific groups of building archetypes. In the Canadian context this could be, for example, an EnerGuide energy rating or energy and GHG intensity metrics tracked through Energy Star Portfolio Manager. A specific level of energy and/or GHG performance would have to be reached by a specific date, or on the sale or change in occupancy of a given building.

To be most effective these whole-building performance standards can be developed as progressive tiers, aligned with Canada's climate and energy objectives, that ratchet up over time. Building code requirements, including those under consideration for the AEB, typically apply only to those buildings undergoing significant maintenance or repair activities, changes of occupancy type, a new addition or substantial reconfiguration, or system upgrades. MEPS, on the other hand, can be designed to target the energy retrofit of the worst performing buildings using building performance benchmarks that identify those with below-average performance, individually or in aggregate.

Paired with existing programs, they can also provide a focal point for funding mechanisms designed to tackle a jurisdiction's most energy and emissions intensive buildings, leading to deeper energy reductions carried out more quickly and across a larger number of buildings. For these reasons, MEPS are standard practice in leading European Union countries as part of the Energy Performance of Buildings Directive (EPBD), which sets minimum performance levels for new buildings as well as those undergoing major renovations. MEPS are also gaining momentum in select North American jurisdictions, including Vancouver's minimum energy performance standard which aims to cut carbon in buildings to half their 2007 levels by 2030.