Guardian Capital Group Limited announces plans to remove its lifetime carbon balance by 2040 through its partnership with The Pond Foundation
December 13 2022 - 7:00AM
Guardian Capital Group Limited (Guardian) (TSX:GCG) (TSX:GCG.A),
announced today its commitment to fully remove its lifetime carbon
balance (LCB) – the total greenhouse gas emissions from its
operations since the company’s inception – by December 31, 2040.
Guardian will eliminate its LCB over 19 years, through annual
investments in carbon removal projects, in partnership with The
Pond Foundation, of which it is a founding member.
As part of this initiative, The Pond Foundation
team has prepared an assessment and report of Guardian’s LCB from
the company’s inception in 1962 through to December 31, 2021. The
evaluation covered over six decades of data and was based on the
Greenhouse Gas Protocol, the international standard for corporate
accounting and reporting of emissions, which categorizes greenhouse
gasses into Scope 1 (direct), 2 (indirect) and 3 (indirect value
chain) emissions, based on the source. Through this analysis, the
assessment determined that Guardian’s LCB was 35,219 tonnes of C02
equivalent (TCO2 e).
As a result, in addition to Guardian’s existing
commitment to balance its annual carbon emissions footprint
starting in 2022 by reducing its own emissions and investing in
external, nature-based projects that remove carbon from the
atmosphere, Guardian has now committed to completely removing these
lifetime emissions by the end of year 2040. The amount for the
first year will be removed by investing in the following three
projects (with new projects selected annually):
- Ricehouse - Promotes the circular
economy from the field to the house with rice-based construction
material in Italy (also part of Guardian’s annual emissions
reduction commitment).
- Durrell Rewild Forest Restoration -
Contributes to the conservation of 1,000 highly endangered black
lion tamarins, restores new forest and creates direct employment
for 250 families in their region of Brazil, where poverty incidence
is up to 47%.
- Tanoe-Ehy Forest - Aims to improve
livelihoods and governance structures for local people in the Ivory
Coast, protect critical habitats and biodiversity, help to reduce
illegal logging and bushmeat hunting and more (also part of
Guardian’s annual emissions reduction commitment).
“As part of Guardian’s commitment to Enriching
Lives Together, being able to eliminate the lifetime carbon balance
that began accumulating over 60 years ago is vital to staying true
to who we are,” said Michele Robitaille, Head of Responsible
Investing, Guardian Capital LP. “By investing in these particular
projects, we’re also able to support not only carbon removal but
also some vital community and biodiversity initiatives around the
world.”
“We are quite excited to see Guardian go beyond
their decision to balance their annual carbon emissions with this
commitment to eliminating their LCB as well,” said Scott Poynton,
Founder and CEO, The Pond Foundation. “The fantastic, nature-based
projects in which they’ve invested will also make a massive
difference to local communities, endangered species, biodiversity
and more. We couldn’t be prouder to have them as a founding
member.”
For further information, please contact:
Angela Shim(416) 947-8009
About Guardian Capital Group
Limited Guardian Capital Group Limited (Guardian) is a
diversified, global financial services company operating in two
main business segments: Investment Management and Wealth
Management. As at September 30, 2022, Guardian had C$47.8 billion
of assets under management and C$26.8 billion of assets under
administration, while managing a proprietary investment portfolio
with a fair market value of C$648 million. Through its
subsidiaries, Guardian provides extensive investment management
solutions to institutional and private wealth clients, while
offering comprehensive wealth management services to financial
advisors in its national mutual fund dealer, securities dealer and
insurance distribution network. Founded in 1962, Guardian’s
reputation for steady growth, long-term relationships and its core
values of trustworthiness, integrity and stability have been key to
its success over six decades. Its Common and Class A shares are
listed on the Toronto Stock Exchange as GCG and GCG.A,
respectively. To learn more about Guardian, visit
www.guardiancapital.com.
About The Pond FoundationThe
Pond Foundation is a Swiss-based non-profit organization, which
exists to change the way the world acts on climate change. Its
signature climate action program, My Carbon Zero, was created to
inspire people and organizations to take their own strong,
credible, climate action. This means each taking responsibility for
their Lifetime Carbon Balance (LCB) – all the emissions they have
put into the atmosphere since their inception if they are an
organization, or since they were born if they are an individual. We
support them to implement ‘RRRI Actions.’ That means that our
members Reduce their own emissions, Reduce emissions elsewhere,
Remove their LCB from the atmosphere and Inspire others to take
their own My Carbon Zero journey. For more information, please
visit: https://mcz.thepondfoundation.org/ or contact Scott Poynton,
Founder, The Pond Foundation and My Carbon Zero at:
scott@thepondfoundation.org or: +41 79 44 56 277.
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