Aviva pledges $6M to Nature Conservancy of Canada for conservation and nature-based carbon removal projects
TORONTO, April 24, 2024 (GLOBE NEWSWIRE) -- Grasslands, forests and tidal marshes in Canada will grow stronger and more resilient, thanks to a new partnership between Aviva plc (Aviva) and the Nature Conservancy of Canada (NCC). Aviva has pledged nearly CAD$6 million over the next seven years to support targeted restoration, conservation and opportunities for carbon removal projects. Through its donation, Aviva is helping NCC protect and restore natural areas that are valuable for biodiversity, communities and the health of our planet.
This is Aviva's second partnership in Canada under its £100-million global program of nature-based carbon sequestration projects aimed at removing carbon dioxide from the atmosphere. Aviva has prioritized nature-based carbon solutions as part of its ambition to become a net-zero company by 2040. These projects also provide a positive contribution to the biodiversity crisis and help support flood protection and the resiliency of local communities.
In total, the donation is expected to contribute to the conservation and/or restoration of 900 hectares ? the equivalent of over 1,520 CFL football fields. Aviva's donation will also support a study on the carbon sequestering power of tidal marshes in Quebec and Atlantic Canada, which could be leveraged to accelerate future conservation work.
NCC is deploying data modelling and landscape analysis tools, combined with extensive on-the-ground expertise, to identify high-priority natural areas that will deliver the most impact from this donation. The funding will be directed to three priority landscapes: grasslands, forests and tidal marshes.
- Grasslands: More than 85 per cent of Saskatchewan's native grasslands have been lost. This partnership will support NCC in restoring more than 500 hectares of this important ecosystem and enhance habitat for an estimated 30 species at risk in the province.
- Forests: Forests in central and southern Canada exist largely in isolated fragments, due to land conversion and development pressures. This partnership will support NCC in restoring more than 100 hectares of forest in central Manitoba, connecting movement corridors for wide-ranging animals and planting future carbon stores. NCC will also pursue carbon removal projects on these reforested lands to amplify the impact of this restoration work.
- Tidal marshes: These ecosystems form part of our natural defences against the impacts of climate change. Tidal marshes buffer inland areas from extreme weather events, slow shoreline erosion, store incredible amounts of carbon and offer safe haven to many species at risk. This partnership will support NCC in conserving more than 300 hectares of this ecosystem along the St. Lawrence Gulf and Estuary.
Restoration across each of these ecosystems takes time, which makes Aviva's long-term partnership crucial to the enduring success of NCC's efforts.
Quotes
"This kind of investment in nature results in win-win environmental and economic outcomes for Canadians. By funding restoration and conservation, Aviva is helping NCC support nature today and long into the future. Conservation, and the work that goes into restoring natural resiliency in landscapes, takes time, so this kind of multi-year investment is key to creating successful outcomes." ? Catherine Grenier, president and CEO, Nature Conservancy of Canada
"There is no pathway to a climate-positive world that does not include nature as part of the solution. Aviva is committed to funding the restoration and protection of nature as a critical part of both decarbonization and infrastructure protection. We feel fortunate to work alongside respected partners like the Nature Conservancy of Canada, whose expertise and dedication to advancing this important work is invaluable." ? Paul Fletcher, chief corporate affairs officer, Aviva Canada
Facts
- The insurance industry is on the front lines of the climate crisis. In 2023, Catastrophic losses in Canada were around CAD$3.1 billion, versus $40 million a year in the mid-1980s. That's why Aviva has launched a £100-million program of nature-based carbon sequestration projects in the UK and Canada, to help address climate change.
- Aviva's donation will support NCC's plan to conserve and restore 5,000 square kilometres of Canada's Prairie grasslands by 2030 ? the equivalent of what we will lose in that time if no action is taken.
- The tidal marsh conservation and study work supported by this donation will rebuild degraded habitat and demonstrate a new way forward for larger-scale conservation and restoration of these ecosystems, which cover more than 500 square kilometres of Quebec and Atlantic Canada's coastlines.
- NCC's forest restoration efforts in Manitoba funded through this donation will improve connectivity between habitats, renew degraded landscapes and sequester carbon.
About
Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, lifestyle and business insurance to 2.4 million customers. As a subsidiary of UK-based Aviva plc, Aviva Canada has more than 4,000 employees focused on creating a sustainable future for our people, our customers, our communities and our planet. In 2021, Aviva plc announced Aviva's global ambition to become a net zero carbon emissions company by 2040.
For more information, visit aviva.ca or Aviva Canada's blog, Twitter, Facebook and LinkedIn pages.
NCC is the country's unifying force for nature. As a trusted partner, NCC works with people, communities and businesses. NCC seeks solutions to the twin crises of rapid biodiversity loss and climate change through large-scale, permanent land conservation. Since 1962, NCC has brought Canadians together to conserve and restore more than 15 million hectares.
To learn more about NCC's carbon market work, visit our website.
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Contacts
Parveen Singh
Communications specialist ? external communications
Aviva Canada
C: 437-221-3492
[email protected]
Andrew Holland
National media relations director
Nature Conservancy of Canada
C: 506-260-0469
[email protected]
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