Posted on 2017.09.19
The carbon market, whether voluntary or regulated, can serve as a cornerstone for sustainable development. By investing in carbon credits, TD Bank Group has demonstrated that sustainable development can also be part of an ongoing heritage project.
In Quebec City in 2017, a carbon credits transaction occurred and a new partnership was formed. The Solifor Perthuis sale to TD Bank Group and Just Energy was the first sale of carbon credits for both the Fonds de solidarité FTQ network and private forest Scierie Dion & Fils.
Solifor Perthuis is a partnership between Solifor (an initiative of the Fonds de solidarité FTQ) and Scierie Dion & Fils. The landmark sale of 140,000 tonnes of voluntary carbon credits with Just Energy and TD Bank Group was handled by Enviro EcoCredit and Carbonzero. At the time, this was the largest transaction in Québec involving forest carbon capture.
“This transaction is a first for the Fonds de solidarité FTQ network and Scierie Dion & Fils, our partner in Solifor Perthuis,” says Mario Tremblay, Vice-President, Public and Corporate Affairs, Fonds de solidarité FTQ. “It demonstrates how responsible economic and community development can contribute to reducing greenhouse gas emissions. This is only one measure of more to come that will confirm our continued commitment to a greener economy. ”
Listed in the CSA Group’s GHG registry, the Solifor Perthuis project generated 140,000 tonnes of CO2 reductions. The reductions were created by establishing plantation forests dedicated to carbon sequestration. A portion of the proceeds from the sale of the carbon credits will be donated to Université Laval. The school has an agreement with the Huron-Wendat Nation, and will continue with its historical and anthropological research. Led by researcher Michel Plourde, their work seeks to uncover artifacts used in the practice of Huron-Wendat ancestral customs.
As a result of this partnership between the University and the Huron-Wendat Nation, this project demonstrates that the carbon market, whether voluntary or regulated, can serve as a cornerstone for a sustainable development and heritage projects. In addition to the initiatives of our governments, this project also serves as proof that different sectors can work together. When they join forces, the financial, educational and scientific sectors can concretely support the development of Indigenous communities.
“Carbonzero’s participation in the Solifor Perthuis project fulfills our commitment to always provide the highest quality Canadian-based carbon offsets to our clients,” says Dan Fraleigh, Chief Operating Officer of Carbonzero. “Through this collaboration, we help support the development of First Nations communities, and provide market opportunities for environmental stewardship. ”
TD is committed to a low carbon economy. The acquisition of 140,000 carbon credits clearly demonstrates their dedication to using environmental methods to better communities for everyone.
“We’re proud to support this project as part of TD’s commitment to support the transition to a low carbon economy,” explains Domenic Di Franco, District Vice President of TD Business Banking. “This project is one example of how we can create shared value through environmental initiatives and also help make a difference in the communities where we operate, and where our customers and employees live and work.”
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebec residents into investments. As of May 31, 2017, the organization had $13.1 billion in net assets. The investment fund boasts a portfolio of investments that have helped create and protect 186,440 jobs. The Fonds is also a partner in more than 2,700 companies and has 645,664 shareholder-savers.
Société de gestion d’actifs forestiers Solifor is a limited partnership created in 2005 by the Fonds de solidarité FTQ to acquire and manage privately-owned forest land.
Enviro Ecocredit is one of the biggest Canadian voluntary carbon credit traders in Canada. A leader in quantification and environmental attributes trading, the company is an essential business partner in the sector. Its members’ historical expertise brings an informed strategic vision to clients. Enviro Ecocredit rigorously and passionately endeavors with integrity to allow environmental projects to pursue their development and maximize their returns. In its governance, as in its functioning, Enviro Ecocredit is aware of its societal, environmental and economic responsibility.
Founded in 2006, Carbonzero has rapidly risen to become a leader in the design and implementation of carbon reduction strategies and solutions. Carbonzero’s high-energy team helps organizations, governments and individuals prepare for the low carbon economy. We assess, report, and reduce emissions for our clients.
Our approach, tools and services ensure that our clients can cost-effectively meet their carbon auditing commitments. We also assist in developing the framework for implementation of reduction activities. Carbonzero serves North America with a presence in Toronto, Kingston, Montreal, Calgary, and Vancouver.
Contact us for help with GHG accounting, management, retail channel, project development, compliance and carbon offsetting services. We can assist a wide variety of corporations, institutions, municipalities, governments, NGO’s, and foundations.
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Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
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