QUEBEC CITY, Dec. 13, 2019 /CNW Telbec/ - iA Financial Group today announces its commitment to offsetting its greenhouse gas (GHG) emissions through the purchase of carbon credits. Beginning in 2020, the company will work to become carbon neutral.
Carbon-neutral company certification certifies that all GHG emissions that cannot be eliminated by iA Financial Group's reduction measures have been calculated and offset. Offsetting does not give the right to pollute nor does it seek to make GHG emissions more acceptable. Instead, offsetting is a mechanism that allows iA Financial Group to take concrete action by investing voluntarily in climate-related projects by reducing GHG in the atmosphere.
By purchasing carbon credits, iA Financial Group will invest in three projects in Canada and the U.S. chosen in conjunction with its partner, Planetair, a leader in the fight against climate change:
To support iA Financial Group's carbon neutrality approach, Planetair will pair its carbon credits with Gold Standard-certified carbon credits from its international projects portfolio.
"Our commitment to becoming a carbon neutral company is part of a continued approach aimed at reducing our environmental footprint and fighting climate change", states Denis Ricard, President and Chief Executive Officer of iA Financial Group. "For 20 years, we have focused and continue to focus on initiatives aimed at reducing our GHG emissions as much as possible. We are now at the step of offsetting our greenhouse gas (GHG) emissions through positive initiatives to fight climate change."
For many years, iA Financial Group has been committed to supporting the fight against climate change by proactively reducing our carbon footprint. We have participated in the Carbon Disclosure Project (CDP) on greenhouse gas emissions since 2007.
iA Financial Group also carries out projects and initiatives aimed at reducing GHG emissions at the source, including:
In 2018, iA Financial Group's GHG emissions totalled 12,700 tons, grouped primarily in the following five categories:
The data for 2019 is not yet available. The offsetting announced today will begin in 2020. In our 2020 Sustainable Development Report, iA Financial Group will release our GHG emissions data and a more detailed description of the projects in which we are investing.
About iA Financial Group
Founded in 1892, iA Financial Group is one of the largest insurance and wealth management companies in Canada. It also operates in the United States. Its stock is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares) and IAF (preferred shares).
iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.
SOURCE iA Financial Group
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