The National Bank of Canada recently announced partnerships with organizations in Quebec and British Columbia to support environmental protection policies and to offset the bank’s greenhouse gas (GHG) emissions.
The bank has confirmed that it is partnering with Équiterre, one of Quebec’s leading environmental organizations. This initiative will bring together various stakeholders to develop solutions that promote environmentally responsible choices. Louis Vachon, president and chief executive officer of National Bank, will serve as honorary chair of the 2020-2021 fundraising initiative.
“This partnership with Équiterre is aligned with National Bank’s initiatives to promote sustainable development and support the energy transition,” said Vachon. “It will be an honour to help mobilize other partner companies.”
National Bank has also signed an agreement with two organizations to purchase emission allowances and carbon credits, enabling it to offset GHG emissions related to its 2019 operations and take an additional step towards achieving its carbon neutrality objectives.
The bank purchased emission allowances through Coop Carbone on the Quebec cap-and-trade system. This system aims to facilitate net GHG reductions for all participants while promoting the implementation of clean technologies.
The bank has also purchased carbon credits from the Nature Conservancy of Canada (NCC) as part of the Darkwoods Forest Carbon Project, one of the largest carbon projects in North America. Located in B.C., the Darkwoods Conservation Area is a 63,000-hectare property that was acquired by NCC in 2008 to preserve its ecologically important features, including the fact that it is a significant source of fresh water.
With $289 billion in assets as at January 31, 2020, National Bank of Canada, is headquartered in Montreal, Quebec and has locations in most provinces. Together with its subsidiaries, it is one of Canada’s leading integrated financial groups with more than 26,000 employees and has been recognized numerous times as a top employer.
For further information on Équiterre, click here.
For further information on the Nature Conservancy of Canada, click here.
Featured image from NCC: Alpine Hiking in the Darkwoods Conservation Area.