TORONTO, (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.
Source : Global News wire