TORONTO, April 20, 2023 (GLOBE NEWSWIRE) -- In support of ALUS' efforts to quantify carbon sequestration outcomes from nature-based climate solutions produced by ALUS farmers and ranchers on agricultural land, the RBC Foundation, through RBC Tech for Nature, has invested $1.5 million in the project. ALUS’ carbon quantification projects will help inform the development of a bundled ecosystem credit that includes carbon sequestration and will be issuable through New Acre™ Project, ALUS’ ESG investment platform.
ALUS is a national charitable organization that supports farmers and ranchers in building nature-based solutions, like native tree and shrub planting, on marginal or uneconomic areas of their lands. The ALUS program is delivered by 38 communities across Canada and over 1,600 ALUS participants are actively engaged in managing and maintaining on-farm nature-based solutions that sequester carbon, filter water and enhance biodiversity.
ALUS has been working with Albo Climate to recalibrate its remote sensing technology to quantify aboveground biomass from its tree and shrub planting projects, as well as soil organic carbon from grassland projects. ALUS is also working with EarthOptics’ proven sensor technology to quantify outcomes from enhanced grazing projects. The RBC Tech for Nature grant will support the continuation of this work.
“We are grateful for the support of our work from the RBC Foundation, through RBC Tech for Nature,” says Mary-Ellen Anderson, Head of Special Projects and Innovation at ALUS. “Their investment helps advance ALUS’ carbon quantification projects, which are critical to valuing the ecosystem services produced by agricultural nature-based climate solutions and developing a bundled ecosystem credit that can help corporations reach net zero, improve water quality and enhance biodiversity effectively and transparently.”
The RBC Tech for Nature program helps accelerate tech-based solutions to climate change and supports the preservation of the world’s most valuable asset: its natural ecosystems. RBC Tech for Nature is a key component of RBC’s climate strategy, the RBC Blueprint, which outlines its commitment to clean economic growth and supporting its customers’ transition to a net-zero economy.
“Nature-based solutions have an important role to play in the climate transition, and we are pleased to work with organizations like ALUS that support farmers, communities, and the planet,” says Jennifer Livingstone, RBC Vice President, Climate. “Climate change and nature loss are interconnected challenges. It is important that we work together to accelerate innovation that advances progress on both fronts.”
This latest $1.5M contribution marks the fourth investment by RBC Foundation, through RBC Tech for Nature, in ALUS and underscores RBC’s commitment to building long-term partnerships to advance solutions to climate change.
About ALUS and New Acre™ Project
ALUS (originally an acronym for Alternative Land Use Services) is a national charitable organization that provides expertise, resources, and direct financial support to 38 communities across six provinces where more than 1,600 farmers and ranchers establish and steward nature-based solutions on their land. These solutions deliver ecosystem services to help sustain agriculture and fight climate change and biodiversity loss for the benefit of communities and future generations. Projects such as enhanced wetlands, windbreaks, riparian buffer zones, wildlife habitats, adaptive agricultural practices and other impactful environmental solutions produce cleaner air, cleaner water, greater biodiversity, carbon sequestration, erosion control, flood and drought mitigation, pollinator and wildlife habitat, and other ecological services.
New Acre™ Project, delivered by ALUS, helps purpose-driven corporations invest in nature-based solutions on agricultural land that generate positive environmental, economic and social outcomes in the communities where they operate—one acre at a time. By investing in New Acre Project, corporations can strategically allocate capital and customize their impact. Each New Acre investment delivers tangible, reliable and measurable outcomes by empowering farmers and ranchers to produce ecosystem goods and services, like carbon sequestration, water filtration and enhanced habitat, that increase biodiversity and help build climate resilience.
To learn more, visit ALUS.ca and newacre.org.
Media Contact
ALUS and New Acre Project
Nadine Mercure, Director of Communications
media@alus.ca
