Subjects: CSR, ENI, ENP
National Bank Partners with Équiterre and Signs an Agreement with Coop Carbone and the Nature Conservancy of Canada to Offset its GHG Emissions
MONTREAL, April 22, 2020 /CNW Telbec/ - To mark Earth Day, National Bank is pleased to announce a partnership with Équiterre, one of Quebec's top environmental organizations. Mr. Louis Vachon, President and Chief Executive Officer of National Bank, will serve as Honorary Chair of the 2020-2021 major fundraising initiative.
This initiative brings together various economic, political and societal stakeholders to support Équiterre in developing concrete solutions that promote the energy transition and help people make environmentally responsible choices every day.
"This partnership with Équiterre is aligned with National Bank's initiatives to promote sustainable development and support the energy transition," said Mr. Vachon. "It will be an honour to help mobilize other partner companies."
Carbon neutrality
National Bank has also signed an agreement with two organizations to purchase emission allowances and carbon credits, enabling it to offset greenhouse gas (GHG) emissions related to its 2019 operations and take an additional step towards achieving its carbon neutrality objectives.
First, the Bank purchased emission allowances through Coop Carbone on the Quebec cap-and-trade system (or "carbon exchange"). 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 British Columbia, 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. This purchase of carbon credits is aligned with the Bank's commitment to protect biodiversity and natural habitats.
These agreements build on our partnership with Parcours Développement durable Montréal, announced last month.
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About National Bank of Canada
With $289 billion in assets as at January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
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