TD Bank Group and Just Energy Acquire 140,000 Tonnes of Carbon Credits from Solifor Perthuis

First sale of carbon credits for both the Fonds de solidarité FTQ network and Scierie Dion & Fils

QUÉBEC CITY, Sept. 19, 2017 /CNW Telbec/ - Solifor Perthuis, a partnership between Solifor (an initiative of the Fonds de solidarité FTQ) and Scierie Dion & Fils, have completed the sale of 140,000 tonnes of voluntary carbon credits to Just Energy and TD Bank Group. Handled by Enviro EcoCredit and Carbonzero, this is the largest transaction in Québec involving forest carbon capture.

Listed in the CSA Group's GHG registry, the Solifor Perthuis project generated 140,000 tonnes of CO2 reductions 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, which, as part of its agreement with the Huron-Wendat Nation, will continue the historical and anthropological research. Led by researcher Michel Plourde, the work seeks to uncover artifacts used in the practice of Huron-Wendat ancestral customs.

The project shows that the carbon market, whether voluntary or regulated, can serve as a cornerstone for a sustainable development and, in this case, heritage project. In addition to the initiatives of our governments, this project is proof positive that when they join forces, the financial, educational and scientific sectors can concretely support the development of Indigenous communities.

Quotes

"This transaction is a first for the Fonds de solidarité FTQ network and Scierie Dion & Fils, our partner in Solifor Perthuis. 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. "
Mario Tremblay, Vice-President, Public and Corporate Affairs, Fonds de solidarité FTQ

"We're proud to support this project as part of TD's commitment to support the transition to a low carbon economy. 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."
Domenic Di Franco, District Vice President, TD Business Banking

"Carbonzero's participation in the Solifor Perthuis project fulfills our commitment to always provide the highest quality Canadian-based carbon offsets to our clients. Through this collaboration, we help support the development of First Nations communities, and provide market opportunities for environmental stewardship. "
Dan Fraleigh, Chief Operating Officer, Carbonzero

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2017, the organization had $13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers.

About Solifor
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.

About Enviro Ecocrédit   
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 its 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.

About Carbonzero
Carbonzero was founded in 2006 and 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 by aiding them in assessing, reporting, and reducing their emissions. Our approach, tools and services ensure that our clients can cost-effectively meet their carbon auditing commitments while developing the framework for implementation of reduction activities. Carbonzero services North America and has a presence in Toronto, Kingston, Montreal, Calgary, and Vancouver. We provide GHG accounting, management, retail channel, project development, compliance and carbon offsetting services for a wide variety of corporations, institutions, municipalities, governments, NGO's, and foundations. Please visit www.carbonzero.ca for more information.

SOURCE Fonds de solidarité FTQ

for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: [phone], Mobile: [phone], Email: [email protected]

Related Links

https://www.fondsftq.com/