Innovative climate solutions are the focus of this year's RBC Tech for Nature 2022 funding partnerships

Latest wave of funding will help propel universities and charities developing solutions from carbon sequestration to cleantech and biodiversity; part of RBC Foundation's $100-million commitment

TORONTO, July 6, 2022 /CNW/ - Climate-focused innovation is the key theme for this year's RBC Tech for Nature partners, as they turn their attention to opportunities to protect our natural ecosystem.

RBC Tech for Nature is helping drive climate innovation and solutions in support of the transition to net zero, supporting more than 100 partner organizations conduct innovative research. These partners are at the forefront of the discussions and problem solving by contributing key research, next-generation technology, and the use of data to enhance our understanding of the resources needed to protect our planet.

RBC is all in on helping to build a cleaner future and achieving a lower emissions world. As part of our commitment to accelerating the transition to net-zero, we are working with our clients to support and enable their plans, and by addressing emissions from our own operations.

RBC Tech for Nature supports our climate strategy which outlines four key priority areas towards achieving net-zero by 2050. To learn more, visit: RBC Climate Blueprint.

"With the impacts of climate change affecting all communities and sectors of the economy, we are working closely with our clients and partners to deliver constructive solutions leadership, collaboration, ingenuity, and vision to achieve the transition to net zero," says Mark Beckles, Vice-President, Social Impact & Innovation, RBC. "RBC Tech for Nature partners are developing solutions for a greener future and are working to get us all there faster."

22 per cent of the projects focus on natural resources conservation, including how to support biodiversity and sequester carbon.

• Island Nature Trust: LandSteward, Artificial Intelligence for Island Community Conservation will pilot LandSteward, a cutting-edge technology giving scientists, conservationists, and policy makers the data and the tools they need to create and manage natural infrastructure projects. LandSteward will empower farmers and woodlot owners across Prince Edward Island to leverage the natural infrastructure of their working landscapes for biodiversity and climate resilience. This project will develop a new scientific conservation platform that equips community-led natural infrastructure projects with artificial intelligence and mobile technology.

17 per cent of these projects focus on climate adaptation as we learn to live in a climate that is ever-changing.

• Ocean Wise is working with Indigenous communities, NGOs and industry to restore and cultivate kelp forests through new technology like green gravel restoration. Kelp reforestation, or Seaforestation, can help mitigate climate change by sequestering carbon, reducing ocean acidification, protecting coastlines, and preserving biodiversity.

24 per cent of the projects focus on water conservation, including protecting our water supply from plastics and waste.

• Nets for Net Zero: Abandoned, lost or otherwise discarded fishing gear (ALDFG) is responsible for 20 to 46 per cent of marine plastics globally. Nets for Net Zero aims to implement a digital circular supply chain system for ALDFG, enabling gear reporting, mapping and recycling to support the regeneration of the world's oceans. Powered by blockchain technology and the eOceans platform, Nets for Net Zero will connect three main events in the supply chain, including port of origin; transportation to the recycling facility; and extrusion and palletization.

The remaining 37 per cent of the partners cover a wide range of climate issues including biodiversity, cleantech, education, and energy use.

"The challenges facing our ocean can only be addressed if we are able to rally millions of people to stand up and take action. Ocean Wise is a global leader in inspiring and empowering people to take action for the ocean, but we recognize the critical need for technologies that can help us to scale our activities to the level needed," says Lasse Gustavsson, President & CEO, Ocean Wise Conservation Association. "Thanks to the support of RBC Tech for Nature, we will be better equipped to do exactly that."

Visit the Daily Hive RBC Tech for Nature Hub including The Pembina Institute's project's to make Electric Vehicle home charging more accessible to a wider range of residents.

Read more about balancing the needs of present and future generations at RBC Stories.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 89,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC

For media inquiries, please contact: Rachel MacLeod, Corporate Communications, RBC, [email protected]