TORONTO, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Canada’s largest-ever private land conservation project is receiving a major boost that will help protect some of the country’s most important natural lands and waters.
An innovative carbon credit project investment between the non-profit Nature Conservancy of Canada (NCC) and TD Securities (TDS) will see $10 million invested into NCC’s Boreal Wildlands Carbon Project, located near Hearst, Ontario. This investment by TDS will directly fund on-the-ground conservation work.
The investment represents a long-term commitment to protect critically important habitat and accelerates NCC’s conservation mission to address the twin crises of rapid biodiversity loss and climate change through land conservation.
NCC, the country’s leading land conservation organization, has over a decade of experience in leading innovative conservation finance projects in Canada. Its Darkwoods Forest Carbon Project, located near Nelson, BC, was the first of its kind in Canada. Similarly, TDS’s investment in Boreal Wildlands — NCC’s second and largest carbon project — sets a new standard for how the private sector can support critical and tangible nature conservation work in Canada.
NCC’s certified carbon credits from Darkwoods are already being used internationally by organizations as part of their commitment to carbon reduction and sustainability. The Boreal Wildlands Carbon Project is being developed under the internationally leading Verra Verified Carbon Standard and certified for the co-benefits it provides, beyond carbon sequestration.
The Boreal Wildlands is a massive natural carbon sink, storing 190 million tonnes of carbon, or the equivalent of the lifetime emissions of three million cars. Encompassing nearly 145,000 hectares, it is roughly twice the size of Toronto and three times that of Montreal. The project conserves more than 1,300 kilometres of rivers, streams and shoreline, as well as vast peatlands and forests. This NCC conservation area is a haven for biodiversity and provides many species with connected habitat.
This agreement with TDS showcases how NCC is accelerating the pace of conservation in Canada. In the past two years alone, NCC has influenced the protection of more than 1 million hectares (almost twice the size of Prince Edward Island, coast to coast to coast. By mobilizing Canadians and delivering permanent, large-scale conservation, the organization will double its impact by 2030. In the face of rapid biodiversity loss and climate change, nature is our ally. There is no solution to either without nature conservation. When nature thrives, we all thrive.
Quotes
“In the face of rapid biodiversity loss and the impacts of climate change, nature conservation provides real, measurable solutions. NCC is using the power of the voluntary carbon market to accelerate urgently needed, large-scale conservation across the country. We are proud that TDS has put its confidence in NCC and our Boreal Wildlands Carbon Project, as part of their Environment, Sustainability and Governance strategy. Together, we are contributing to a nature-positive, carbon-neutral future.” — Catherine Grenier, President and CEO, Nature Conservancy of Canada
“The need for conservation action has never been more urgent. It will take substantial amounts of private sector investment to ensure nature and people thrive now, and into the future. The Nature Conservancy of Canada is at the leading edge of developing high-quality carbon projects in Canada, offering carbon credits that support the many co-benefits associated with NCC’s work, such as supporting biodiversity and habitat protection. These rigorously certified credits can play an important role in a company’s comprehensive transition strategy to reach net-zero emissions.” — Craig Losos, Executive Director, Nature + Climate Projects, Nature Conservancy of Canada
"We are proud to have played a role in the Nature Conservancy of Canada's efforts to protect and conserve the Boreal Wildlands. At TD, we are dedicated to a sustainable future and we are committed to helping our clients identify their role in the transition economy and navigating the evolving ESG landscape. We are able to use our knowledge across all aspects of the business to deliver holistic solutions and advice to our clients in this rapidly changing space." — Amy West, Global Head, ESG Solutions, TD Securities
"TD has a proud history of supporting the Nature Conservancy of Canada for over 30 years. Today's announcement demonstrates TD's commitment to finding new and innovative ways to contribute to a more sustainable future and supporting nature-based solutions to climate change." — Janice Farrell Jones, Senior Vice President, Sustainability and Corporate Citizenship, TD
Photo and video assets can be found here.
Additional information about NCC’s Boreal Wildlands project is in the backgrounder.
About
The Nature Conservancy of Canada (NCC) is the country’s unifying force for nature. NCC seeks solutions to the twin crises of rapid biodiversity loss and climate change through large-scale, permanent land conservation. As a trusted partner, NCC works with people, communities, businesses and government to protect and care for our country’s most important natural areas. Since 1962, NCC has brought Canadians together to conserve and restore more than 15 million hectares. To learn more, visit natureconservancy.ca.
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves more than 27 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.8 trillion in assets on July 31, 2022. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
Media contact
Jensen Edwards
National Media Relations Manager
Nature Conservancy of Canada
jensen.edwards@natureconservancy.ca
Phone: (438) 885-9157
