MONTREAL, March 09, 2023 (GLOBE NEWSWIRE) -- The Nature Conservancy of Canada (NCC) celebrates a $1-million investment from Power Corporation of Canada, which will accelerate work to halt and reverse the loss of nature in three provinces – Quebec, Ontario, and Manitoba.
The twin crises of climate change and nature loss are monumental in scale and impact. They threaten our natural world and our communities. To respond, NCC has committed to doubling its impact for nature conservation by 2030, in line with global goals to protect 30 per cent of our lands and waters by 2030.
This ambition can only be achieved by working collaboratively across all sectors of society to maximize conservation opportunities. NCC will leverage Power Corporation’s support with government and additional private funds to maximize results and conserve at-risk ecosystems that clean the water we drink, store carbon, offer habitat to species at risk, and provide numerous nature-based climate solutions for communities.
Today’s investment is the latest milestone in Power Corporation of Canada’s 20-year history of support for NCC’s conservation program.
Just last year, Power Corporation helped NCC secure more than 7,600 hectares of forests and wetlands on Manitoulin Island, the largest freshwater island in the world. The project, Vidal Bay, includes 18.5 kilometres of rare, undeveloped Lake Huron shoreline. The forests sequester more than 22,600 tonnes of carbon dioxide every year, equivalent to the emissions from more than 6,000 passenger vehicles.
Quotes
“Nature loss has real consequences for business and the economy. Nearly half of the world’s GDP depends on nature and the services it provides. Power Corporation of Canada’s commitment to nature conservation demonstrates leadership, and an understanding that we need to work together to make sure nature thrives. We believe Power Corporation of Canada’s example will inspire others to join in delivering Canada’s critical and ambitious targets to stop and reverse nature loss.”
— Catherine Grenier, President and CEO, Nature Conservancy of Canada
“More than ever, the shift to a low-carbon economy that prioritizes social, economic and climate benefits requires the close collaboration of all stakeholders. We believe this transition should be an integral part of our business decisions and of the organizations we support. NCC has proved over the years they can deliver large-scale, permanent solutions to reverse biodiversity loss in Canada. I am proud to help them make that happen by strengthening Power Corporation’s long-standing support to NCC’s Conservation Program.”
— Olivier Desmarais, Chairman and CEO, Power Sustainable and Senior Vice- President, Power Corporation of Canada
Facts
- Nature-based solutions are among the most cost-effective strategies to counter the dual crises of biodiversity loss and climate change. Wetlands act like sponges, absorbing water to prevent flooding downstream and filtering it as well; grasslands also store and filter water in their deep root systems; forests, grasslands and wetlands all sequester carbon, helping to pull greenhouse gases out of the atmosphere.
- At least 50 per cent of global GDP is directly connected to nature and is therefore put at risk by nature loss and climate change. Conservation offers solutions to both challenges. By protecting ecosystems that store carbon, filter water and clean air, conservation secures habitats for many species and supports a nature-positive future for everyone.
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.
Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.PowerCorporation.com.
Learn More
Visit: natureconservancy.ca
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Media Contacts
Andrew Holland
National Media Relations Director
Nature Conservancy of Canada
C: 506-260-0469
andrew.holland@natureconservancy.ca
Stéphane Lemay
Vice-President, General Counsel and Secretary
Power Corporation of Canada
514 286-6716
lemay@powercorp.com
