Investment of $7m for innovative Canadian trio
Climate Change Emissions Management Corporation (CCEMC), a non-profit organisation with the mandate of expanding knowledge of climate change and developing ‘clean’ technologies, is providing $7m to support three environmental projects in Alberta, Canada.
The funding, encouragingly, has been raised by industry—since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas are legally required to reduce the emissions by 12%. One of the option is to pay $15 for every tonne over the limit to the Climate Change and Emissions Fund.
Since its inception, the mighty investment venture, alongside Alberta Environment and Water, has led development of green technology, and focused primarily on enhancing the value of energy resources, conservation and efficient use of energy.
The first of the three adaptation projects for the CCEMC is the Foothills Research Institute and Tree Improvement Alberta. The forestry industry and provincial government consortium will be receiving $3m to explore adaptation risks for different tree species and to explore opportunities for conservation and reforestation to help maintain forest eco systems. The Tree Species Adaptation Risk Management Project aims to identify and plant trees that are genetically tolerant to gradual environmental changes. The project will also evaluate individual tree breeding programs to address the challenges of climate change.
Biodiversity Management and Climate Change Adaptation is the second project on the cards and will receive an investment of $2.4m. The collaborative project will involve practical monitoring of Alberta’s wild species of plants and animals as their environment is altered by climate change. Lead by the Alberta Biodiversity Monitoring Institute, the scheme will assess the climate-related vulnerability of hundreds of species ranging from inconspicuous prairie flowers to familiar backyard birds.
Alberta Innovates-Energy and Environmental Solutions and WaterSMART Solutions Ltd. will be leading the third stem of CCEMC’s emissions management project, which has been titled the South Saskatchewan River Basin (SSRB) Adaptation to Climate Variability Project. The team will be focusing on the importance of a better understanding and management of water resource systems through integrated, stakeholder-driven, evidence-based approaches.
“CCEMC is pleased to support these projects that enhance Alberta’s capacity to adapt to climate change”, said CCEMC Chairman Eric Newell. “Timely action is necessary to ensure we minimize impacts to Alberta’s environment and economy.”
The initiative will bring together science, knowledge and experience, combined with the ability and resilience of local communities to adapt to existing and future climate variability.
It is very refreshing to see a fund set up as a direct result of capital built from heavy greenhouse gas emitters and put to use on biodiversity projects.
If you are interested in investing in projects that are giving something back to the environment or society, take a look at our Guide to Sustainable Investment. We also suggest that you seek advice from an independent advisor—fill in our online form, and we’ll put you in touch with a sustainable investment specialist.
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