Tax Neutrality – Goodwill Savannah GA Wed, 24 Nov 2021 14:40:12 +0000 en-US hourly 1 Tax Neutrality – Goodwill Savannah GA 32 32 PGW emails show involvement in drafting anti-climate targets bill Wed, 24 Nov 2021 12:45:49 +0000

What the Senate bill would do

The City of Philadelphia opposes any pre-emption legislation or efforts to limit its ability to govern. The city council passed a resolution opposing SB 275 in April, and city officials made it clear to PGW that it should not push for the bill. But these efforts may have been too late. Even before the bill was introduced, series of emails obtained by WHYY show gas industry lobbyists working together and with Senator Yaw’s office to develop the bill. And while representatives of UGI Corp. took the lead, PGW’s vice president for government and regulatory affairs Greg Stunder was an active participant. This despite claims that the public service is “neutral”.

Drafting of the bill took place in January and February 2021, and on several occasions, according to the emails, Stunder suggests wording changes that would strengthen the legislation, drawing inspiration from a Florida bill aimed at broaden the definition of “public service”. to include “electricity, manufactured gas, liquefied petroleum gas, natural gas, hydrogen, fuel oil, a renewable source or any other source from a utility provider who is capable and licensed to supply utilities for the property of the individual or entity. ”

The interfaith group for climate justice POWER actively commented on PGW’s diversification study, seeking to determine how to transform the fossil fuel business in a way that would preserve both good union jobs and affordability.

“We need bold leadership from PGW to address the truth of this moment,” said Julie Greenberg of POWER. “To create a transition that works for all, away from dirty fossil fuels, let’s sit down and create solutions because we can’t go on as usual.”

Greenberg said the effects of climate change, namely extreme heat and flooding, will have a disproportionate impact on overburdened low-income communities.

POWER attorney Devin McDougall of EarthJustice said PGW’s involvement in the legislation goes against PGW’s claims of neutrality on SB 275.

“These emails reflect PGW’s efforts to extend the preventive reach of SB 275 and add bite by expressly bringing in more types of energy services, building on similar bills supported by the American Gas Association in d ‘other jurisdictions,’ McDougall said. “It should be of great public concern that PGW strives to expand and strengthen SB 275 in a way that is not compatible with being a neutral observer. ”

PGW did not accept an interview with WHYY News and did not respond to written questions submitted regarding the emails.

Instead, PGW sent out a statement acknowledging that it “wholeheartedly” supported SB 275 as a way to protect the interests of its clients.

“We remain neutral on Senate Bill 275,” read the statement sent to WHYY. “However, the intent of Senate Bill 275; to protect our customers’ access to affordable energy – it is the cleanest and most abundant option – is an intention we wholeheartedly support.

The series of emails obtained by WHYY also includes Greg Stunder of PGW who sent a supporting copy to Nick Troutman, Senator Yaw’s assistant. In a Jan. 19 email from IGU lobbyist Alisa Harris to Troutman, Harris indicated unanimous support among natural gas distribution companies. “I met the other (copied) NGDCs on Friday and everyone is eager to move forward,” Harris wrote. “We spent a lot of time discussing the benefits of a fuel bill neutral. However, we will develop a strategy that will support this approach. ”

The email continues, suggesting the bill be extended beyond new construction. “We are ready to follow your example. If you think this is appropriate, the NGDC would like to schedule a call with you to discuss how best to support this effort. As before, we are happy to make calls and solicit sponsors for the invoice.

PGW did not respond to questions as to whether Stunder made it clear at some point that the city-owned utility was not included in the effort Harris said was unanimous.

PGW also did not respond to questions about whether anyone in the public service or its representatives made any efforts to support or encourage others to support the bill, as reported in the e- mail.

In a statement released this week, a spokesperson for the city of Philadelphia said the emails did not show “lobbying” on the part of PGW.

“The city remains opposed to the legislation, and the shared emails show that PGW has made its neutrality known to these same stakeholders,” the statement said.

Likewise, city council member Derek Green, who chairs the Philadelphia Gas Commission, said the emails were typical of interactions between members of industry trade groups.

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New financial tool unveiled to help China’s low-carbon development Sat, 20 Nov 2021 16:18:00 +0000

© Provided by Xinhua

BEIJING, Nov. 20 (Xinhua) – China has deployed a new financial tool to support the clean and efficient use of coal as part of efforts to advance green and low-carbon development.

The country will introduce a targeted loan program with a quota of 200 billion yuan (about $ 31.3 billion) to support the clean and efficient use of coal, an executive meeting of the State Council chaired on Wednesday decided. by Premier Li Keqiang.

“Right now, coal is the source of energy that we can really rely on for our supply. It will remain so for a long time to come, and it affects China’s development,” Li said. said, we must pursue a transformation on the path of development. We cannot stay on the path of energy-intensive development. “

China is stepping up the pace of optimizing its energy structure, with incentives to support the green transition to tackle pollution and climate change caused by burning fossil fuels. Currently, coal continues to represent the majority of the country’s energy consumption.

Considering China’s coal dominated energy resources, it is important to work hard to make coal use cleaner and more efficient.

The meeting stressed that the re-lending program should target green and efficient process operations, including coal mining, processing, power generation and heating.

According to the meeting, after the big banks independently grant preferential loans to qualified coal projects, the People’s Bank of China (PBOC), the country’s central bank, can provide lending support to these banks, with the same loan amount as the principal of their loan.

Interest rates on loans provided by big banks are expected to be basically in line with benchmark lending rates, the meeting said, adding that policy supports such as tax incentives, special government bonds and takeover projects will also be deployed to make more use of coal. clean and efficient.

The loaner program is a follow-up measure after China unveiled a carbon reduction support tool earlier this month.

On November 8, the PBOC said it would provide low-cost loans to financial institutions through the support tool, and guide these institutions to provide loans to businesses in key carbon reduction areas on the basis of independent decision making and risk. socket.

In fact, green finance has been an important step for the country to facilitate carbon reduction.

At the end of the third quarter of 2021, China’s green loan balance reached 14.78 trillion yuan, up 27.9 percent year on year. Of the green loans, 66.9% went to projects with direct and indirect carbon reduction benefits.

Financial support is essential, said Dong Ximiao, a part-time researcher at Fudan University, adding that the loan program will help boost green development and increase the willingness and capacity of financial institutions to support the use. clean and efficient coal.

China aims to increase the share of non-fossil fuels in its primary energy consumption to around 25% by 2030, peak carbon dioxide emissions by 2030, and achieve carbon neutrality by 2060.

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Is it illegal to leave your child alone in the car in droves? Fri, 19 Nov 2021 16:59:03 +0000

As a child, I hated shopping with my mom. She always took way too long to walk the aisles to buy things that were not on her list.

I mean, we were kids, we didn’t want to spend a Monday after school shopping, bro.

So if memory serves, we were about 8 or 9 years old when my mom decided to let us “wait in the car” while she went shopping. I don’t know, maybe we were 10 or 11 …

But what about something that only takes 5 minutes? Like, just walk into the convenience store? Do you leave your 5 year old in the car? I mean, just lock the door, right?

While other states have restrictions on this, such as age, outside temperature, or the age of other people in the car. These factors all play a role, but not in Massachusetts.

Massachusetts has no laws against leaving children unattended in cars.

So, technically, it’s not against the law to leave a child unattended in the car in Massachusetts.

I can see the temptation, you stop in front of an all-glass convenience store in front, you only enter for a minute, you see your child through the window even if your car is locked …

LOOK: What important laws were passed in the year you were born?

The data for this list was obtained from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.

25 real crime scenes: what do they look like today?

Below, find out where 25 of the most infamous crimes in history took place – and what these places are for today. (If they remained standing.)

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US nuclear industry gets $ 6 billion bailout Thu, 18 Nov 2021 01:00:20 +0000

The US nuclear power industry has been trying to overcome negative stereotypes since the Three Mile Island plant in Pennsylvania suffered a partial collapse in 1979, but has only fallen out of favor for more than 40 years.

This week, it is finally beaming with positivity: In the fine print of the $ 1.2 trillion infrastructure bill that became law on Monday, there is $ 6 billion in subsidies for struggling reactors. The sudden enrichment is due to the fact that the carbon neutral means of nuclear are back in fashion, glowing green for policymakers seeking to eliminate emissions.

Nuclear Option

Nuclear power has provided about 20% of America’s energy for 30 years, but the state governments of Connecticut, Illinois, New York, and New Jersey have all had to step in with hundreds of millions of dollars to keep their nuclear generators afloat. This is because nuclear operators have been underestimated by cheap natural gas and renewable generators that are backed by subsidies.

Although left out in the less subsidized cold, nuclear power is responsible for half of America’s zero carbon production. This means that the Biden administration, with its ambitious climate goals, has called for the $ 6 billion to prevent the 93 operating reactors in the country, which are critically endangered, from rotting to the core:

  • 13 U.S. reactors have been shut down since 2013 – Indian Point in New York was the latest casualty when it closed in April, and Diablo Canyon in California is expected to cool down in 2025.
  • More than 50% of US nuclear power plants are on track to retire by 2030, research firm Rhodium Group estimated earlier this year.

Fission Expedition: The $ 6 billion might not last long: It would take an average of $ 814 million a year to bring nuclear power plants back to balance, according to a 2018 report from the Union of Concerned Scientists. However, it could serve as a bridge if Congress passes a production tax credit, worth $ 15 per megawatt hour, which operators say would be even more lucrative than a bailout.

Go small or go home: Don’t expect more large nuclear power plants – only one is under construction in the United States and the costs of the Georgia facility have doubled to $ 28 billion – but the proposed tax credit program could result in to small modular reactors, which many believe to be the best hope for carbon neutrality in the short term.

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Russian mobile operator MTS plans to sell tower assets, CEO told Kommersant, Telecom News, ET Telecom Tue, 16 Nov 2021 08:03:00 +0000 MOSCOW: Russia’s largest mobile operator MTS could sell its tower assets, chief executive Vyacheslav Nikolaev told the Kommersant daily published on Tuesday, following an industry-wide trend of telecom companies to shoot profit from the lucrative power of masts.

“The process of separating the assets from the towers into a separate company is underway, after which a sale is possible,” Nikolaev said, adding that MTS would have around 23,000 towers by the end of 2021, around 30% more than its closest competitor.

Rival telecommunications operator Veon, whose main market is Russia, told Reuters last month it was focusing on high-margin digital businesses after agreeing to sell its Russian tower assets for $ 970 million .

Independent tower companies are keen to access the stable, inflation-linked returns that towers topped with antennas generate. Other telecom players have sought to create separate tower units in order to retain some of the potential future growth.

Nikolaev, who said negotiations for the sale were ongoing, said MTS had other priorities beyond telecommunications.

MTS is one of several Russian companies expanding services beyond its core business, including MTS Bank, e-commerce and streaming service KION.

MTS is also preparing changes to its dividend policy, Nikolaev said, with several different options being discussed.

“The most appropriate, in our opinion, is a scenario where we will pay more than twice a year and overall no less than under the previous policy,” he said.

The company announced in July that it plans to pay a dividend in the first half of 2021 of 10.55 rubles per ordinary share, paying a total of 21.08 billion rubles ($ 290 million) in interim dividends.

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LaBelle man arrested for trespassing and disturbing the peace Thu, 11 Nov 2021 12:35:30 +0000

A man from LaBelle is being held in Lewis County Jail for trespassing.

Lewis County Sheriff David Parrish reports that MPs were called to a farm north of Monticello around 4:30 a.m. Tuesday. They were told that a man in an apparently drug-induced condition was wandering the yard of the residence. The man was inconsistent and uncooperative.

Douglas Howes, 50, of rural LaBelle, was arrested on two outstanding Lewis County arrest warrants for failing to appear in a previous trespassing case and for allegedly stealing fuel from the Lewistown County Market Express.

Additional charges of trespassing and disturbing the peace have been filed against Howes.
He’s in Lewis County Jail on $ 1,250 cash only.

Sheriff Parrish also commented, “Mr. Howes is currently on parole out of the Missouri Department of Corrections. Since his release he has been arrested several times leading to (new) charges. Previously, Mr. Howes was sentenced to 3 years in the Missouri Department. of Corrections for possession of a controlled substance. Mr. Howes is a known felon and has numerous previous felony convictions and has served multiple prison terms in the past. “

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.

Luxury Illinois country home includes horse stable and treehouse

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Opinion: Honda exec: Democrats play favorites with their new EV proposal Tue, 09 Nov 2021 20:16:00 +0000 Of course, some initiatives will be more successful than others in reducing carbon emissions. At Honda, we were delighted to see the Biden administration’s recent proposals for new federal vehicle emissions standards and more electric vehicles (EVs), which he called for in a recently issued executive order. But now Congress is also considering a proposal that will hamper climate progress.
Currently, consumers can receive up to $ 7,500 in federal tax credit for the purchase of an electric vehicle. As part of the Build Back Better plan, Democrats in Congress want to offer an additional $ 4,500 bonus on top of the $ 7,500, but that would only go to consumers buying electric vehicles made by workers who are part of it. of a union. If this becomes law, only electric vehicles manufactured by General Motors, Ford and Chrysler would be eligible for the bonus credit.

Environmental and industry experts agree that customer incentives are key to achieving widespread acceptance of electric vehicles on a scale needed to meet the proposed new regulations. But limiting the entire tax incentive to electric vehicles made only by the three incumbent Detroit automakers would be to neglect other national and international automakers whose American workers – who are not unionized – make millions of vehicles by year here in the United States.

In fact, in today’s auto industry, a variety of auto manufacturers, international and domestic, manufacture vehicles in the United States without union work. Additionally, international automakers make almost as many cars here in the United States as do American automakers. Honda has been building cars in America for almost 40 years, and more than two-thirds of Hondas sold in the United States are made in the United States by more than 20,000 American associates. Our American history shows that an American-made car does not have to be made by an automaker from Detroit. The same can and will continue to be said about electric vehicles made in the United States.

This proposal is bad business for non-union automakers, their American workers, and for the customers who are needed to drive this transition to electrification. The measure would hamper sales of electric vehicles for non-union manufacturers, putting them at a competitive disadvantage. And that could mean lower production volume and fewer jobs for workers; while the higher cost to consumers of vehicles that do not qualify for the additional credit would actually defeat the mission of promoting sales of electric vehicles.

It would be a disastrous detour on our generational journey towards environmental sustainability. The climate crisis needs a holistic approach, not federal policies playing favorites among the many brands that will make electric vehicles in America to appease union interests. We need to stay focused on what unites us: the common goal of deploying zero-emission vehicles to achieve carbon neutrality.

I stand with our 20,000 Honda associates for their right to earn a living and to choose whether or not to join a union. I cannot remain silent as our government debates a plan that says the products they make do not deserve equal support for much needed climate progress.

History has shown that federal policies that pick winners and losers tend to be losers themselves. Especially when a big national goal is at stake, companies need a level playing field to innovate, produce, compete and collaborate without the federal government stimulating some players while blocking others. Promoting unionization is a different agenda from promoting electric vehicles, and climate champions on the Hill should reject tying the two as Congress continues to negotiate a reconciliation deal.

Washington policymakers should unite the efforts of all automakers to tackle the climate crisis.

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Viewpoint: India needs to strengthen its tax administration, while ensuring it receives a larger share of the global tax base Fri, 05 Nov 2021 17:34:00 +0000 India has joined pressure from administration Joe Biden for a global corporate tax framework – since endorsed by G20 leaders in Rome last weekend – while getting a better deal than some previous members . It has been spared conditionalities on how it should dismantle its digital tax, the equalization tax (EL). This will make the transition less painful for India, unlike countries in Europe.

The initiative calls for a global minimum levy of 15%, enshrining the right of countries to tax the profits of large multinationals where they do business or have customers, but have no physical presence. In return, India and other countries will remove their digital taxes aimed primarily at large US tech companies like Alphabet (Google), Meta (Facebook) and Amazon.

Five European countries – France, Austria, France, Italy and Spain – as well as Great Britain, are now bound by a pact with the United States on the timing and method of their tax withdrawal digital. And the United States has withdrawn the threat of tariffs against these countries. The objective of the pact, signed upstream of the G20, is to manage the transition to the new global tax regime for highly profitable companies. India and Turkey were excluded from the pact.

Under the deal, European countries will be able to keep their digital taxes in place until the global tax deal goes into effect in 2023. However, any levies they collect from multinationals after January 2022 that exceed what they would have to pay under the new rules would be credited against the future tax debts of these companies in these (European) countries. Since there are no such endorsements for India, GoI could keep whatever digital taxes it collects until the new deal goes into effect. It is a relief.

Nirmala Sitharaman has confirmed that India will withdraw EL, aka the “Google tax,” once the global tax reform agreement is implemented. Last month, she said the tax was introduced at a time when the world had yet to agree to tax reform to tackle large digital companies dodging tax in several countries, despite large revenues from their clients. the low.

While waiting for the windfall

Initially, EL was billed on online advertising payments to foreign entities and later on non-resident e-commerce operators without a “permanent establishment” (PE) here. It served a principle of taxation – neutrality – ending the arrangement in which foreign-based companies escaped taxation while domestic companies were taxed. The idea was also to give Indian digital companies a level playing field, rather than harming Digital India, as some foreign targets of the tax had initially claimed. It was fair enough.

EL has also helped spur the concerted global movement to end Base Erosion and Profit Shifting (BEPS) by multinationals. It has yet to produce a gold mine for the government.

India is now thirsty for income to revive the economy. However, having concluded the global pact on the taxation of highly profitable companies, including digital giants, the GoI should not attempt to extend the reach of EL.

Hopefully the global deal, backed by the OECD, will benefit India in the long run. The agreement is twofold: Pillar 1 gives countries the right to tax a slice of multinational profits above a certain “routine level”. For example, if Google’s overall profit or sales is 15%, a quarter of 5% of sales, i.e. 1.25% of sales, would be available for distribution in countries where sales are carried out (regardless of the PE). It is estimated that $ 125 billion (9.31 lakh crore) in profits would be available for taxation. The breakdown by country is still being worked out.

Under Pillar 2, companies with a minimum turnover of 750 million euros (approximately $ 865 million, or 6,453 crore yen) will have to pay a minimum corporate tax of 15% on profits. that they carry out in each country. It will bring in around $ 150 billion (11.2 lakh crore) in new revenue per year. Over 150 companies based in India will be covered by pillar 2.

Thus, India should negotiate hard while working out the finer details of how distributable profits are to be calculated (and which country should forgo profits). Akhilesh Ranjan, a former member of the Central Direct Taxation Council (CBDT), believes India needs to be vigilant as it could end up waiving taxes on profits made by certain subsidiaries of multinationals, especially in the business sector. ‘infotech.

Overall, the reform, which is to be implemented through binding multilateral tax pacts, will deter multinationals from using differences in tax rules to shift profits to tax havens and prevent BEPS, thereby helping companies. governments to collect more taxes. Some 136 countries, representing more than 90% of global GDP, have signed the agreement negotiated by the OECD.

The pie in the sky

Poorer countries like Nigeria and Kenya have not joined, saying the plan to reallocate the right to tax a slice of multinational corporations’ profits above a ‘routine level’ is far too complex, taking into account sub-optimal income gains. Their concerns must be allayed.

The OECD must quickly develop the model rules to ensure the implementation of tax reform by 2023. To prepare for the transition, India must strengthen its tax administration, while ensuring that it receives a bigger share of the tax pie.

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Comparison of corporate tax systems in Europe, 2021 Thu, 04 Nov 2021 10:50:16 +0000

On October 17th, we released the International tax competitiveness index 2021, a study that measures and compares the competitiveness and neutrality of the tax systems of the 37 OECD countries. In the coming weeks, we will illustrate the ranking of European OECD countries in each of the five components of the Index: corporate taxes, personal income taxes, consumption taxes, property taxes and international taxation. Today we take a look at how European countries corporate tax regimes compare within the OECD.

Unlike other studies that compare tax burdens, the Index the extent to which a country structures its tax code. A competitive and neutral tax code promotes economic growth and sustainable investment while generating sufficient revenue for government priorities. Our corporate tax component scores countries not only on their corporate tax rates, but also on how they handle net operating losses, capital deductions, inventory valuation, and deductions for business. company equity, whether and to what extent patent boxes and R&D tax incentives are granted. , the application of taxes on digital services and on the complexity of corporate tax.

Click on the link below to view an interactive version of corporate tax rankings for OECD countries, then click on your country for more information on the strengths and weaknesses of its tax system and how it compares to the top and bottom five OECD countries.

Latvia and Estonia have the best corporate tax systems in the OECD. Both countries have a cash flow tax on corporate profits. This means that profits are only taxed when they are distributed to shareholders. If a company decides to reinvest its profits instead of paying dividends to shareholders, there is no tax on those profits.

In contrast, Portugal has the least competitive and least neutral corporate tax system in Europe (Japan ranks last in the OECD). At 31.5%, Portugal levies one of the highest corporate tax rates on corporate profits. Only limited net operating losses can be carried forward and back; purchases of machinery, buildings and intangible assets cannot be fully expensed.

To see if your country’s tax classification has improved in recent years, check the table below. To learn more about how we determined these rankings, read our full methodology here.

Comparison of corporate tax systems in Europe, 2021
Corporate tax component of International tax competitiveness index between 2019 and 2021 (for all OECD countries)
OECD countries Ranking 2019 Ranking 2020 Ranking 2021 Change from 2020 to 2021
Australia (AU) 30 30 29 1
Austria (AT) 19 23 21 2
Belgium (BE) 20 ten 15 -5
Canada (CA) 22 21 23 -2
Chile (CL) 32 5 1 4
Czech Republic (CZ) 36 37 37 0
Denmark (DK) 6 7 8 -1
Estonia (EE) 15 16 16 0
Finland (FI) 2 2 3 -1
France (FR) 7 8 7 1
Germany (DE) 37 36 34 2
Greece (GR) 28 28 27 1
Hungary (HU) 21 22 22 0
Iceland (IS) 5 6 6 0
Ireland (IE) ten 11 13 -2
Israel (IL) 4 4 5 -1
Italy (IT) 29 29 17 12
Japan (JP) 26 31 30 1
Korea (KR) 35 35 36 -1
Latvia (LV) 33 33 33 0
Lithuania (LT) 1 1 2 -1
Luxembourg (LU) 3 3 4 -1
Mexico (MX) 25 25 25 0
Netherlands (NL) 31 32 31 1
New Zealand (NZ) 24 24 24 0
Norway (NO) 23 27 28 -1
Poland (PL) 12 14 11 3
Portugal (PT) 13 15 14 1
Slovak Republic (SK) 34 34 35 -1
Slovenia (SI) 16 17 19 -2
Spain (ES) 11 12 12 0
Sweden (SE) 27 26 32 -6
Switzerland (CH) 8 9 9 0
Turkey (TR) 9 13 ten 3
United Kingdom (GB) 14 18 26 -8
United States (United States) 17 20 18 2

Source: International tax competitiveness index 2021.

Launch 2021 International tax competitiveness index

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Equitable Bank becomes carbon neutral Tue, 02 Nov 2021 22:00:00 +0000

from Canada Challenger Bank ™ Provides Critical Funding for Darkwoods Forest Conservation

TORONTO, November 2, 2021 / CNW / – Equitable Group Inc. (TSX: EQB) (TSX: EQB.PR.C) (“Equitable” or the “Bank”) today announced that it has become carbon neutral in its gas emissions scope 1 and 2 (GHG) greenhouse effect, reflecting its sustainability commitments and the environmental benefits of its digital banking capabilities.

Equitable Bank becomes carbon neutral (CNW Group / Equitable Bank)

The Bank’s Scope 1 and Scope 2 GHG emissions resulting from operations were equal to 553 tonnes of carbon dioxide equivalent (tCO2e) in 2020, an amount that the bank fully offset through the purchase of Verified Carbon Standard (VCS) emission reduction credits for Darkwoods Forest Conservation in collaboration with Natural Capital Partners, a leading provider of climate control solutions. carbon neutrality and climate finance.

“We believe that our goal of enriching the lives of Canadians can and should be achieved simultaneously with a low carbon transition,” said André Maure, President and CEO. “As today’s announcement attests, we are achieving this alignment through our digital banking capabilities, our energy-efficient cloud architecture, our focused real estate footprint, and the critical funding we provide to Darkwoods Forest Conservation in Western Canada. Due to the advantages inherent in our business model and the prudent management of resources, we generate Scope 1 and 2 issues per dollar of turnover that are well below branch-based banks in Canada. In the future, we will continue to intensify our efforts to bring about real and lasting changes to the environment. from Canada Challenger Bank. “

Future prospects: Scope 3 emissions and definition of objectives
With carbon neutrality for Scope 1 and 2 GHG emissions and progress towards disclosure of the Bank’s Scope 3 GHG emissions, Equitable will now be committed to setting targets and moving forward with activities. climate risk management.

“As we move forward on our climate change journey, we are committed to maintaining carbon neutrality in our Scope 1 and 2 GHG emissions,” said Mr. Moor. “But more than that, we will create meaningful reduction targets and climate commitments that align with the Bank’s goal and will empower clients, shareholders, partners and our team to assess our performance. and our risks. be informed by evolving best practices, including science-based goals, net zero and the United Nations Climate Change Conference (COP26) in Glasgow who started the October 31. “

Equitable has engaged WSP in Canada quantify the Bank’s scope 1, 2 and 3 GHG emissions by applying the methodologies of the GHG Protocol and the Partnership for Carbon Accounting Financials.

About Equitable
Equitable Group Inc. is listed on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves nearly three hundred thousand Canadians through Equitable Bank, from Canada Bank Challenger ™. Equitable Bank has grown to be the country’s eighth independent Schedule I bank with a clear mandate to drive real change in the Canadian banking industry to enrich people’s lives. Founded over 50 years ago, Equitable Bank offers diversified personal and commercial banking services and, thanks to its EQ Bank platform (, was named the No. 1 bank in Canada on Forbes’ list of the best banks in the world 2021. Please visit for details.

About Darkwoods Forest Conservation
Preserved in 2008 and expanded in 2019, Darkwoods is the largest private land conservation project in Canada. Stretching across remote valleys, mountains and lakes in British Columbia’s West Kootenay region, Darkwoods provides critical habitat for dozens of species at risk. The conservation area plays a central role in a network of parks, wildlife management areas and conservation lands spanning more than 1,100 km2.

The Darkwoods Forest Carbon Project is North America first project to be certified according to the verified impact of sustainable development standard (SD VISta). This standard provides a framework by which projects can be assessed on the sustainable development benefits of the project and their contribution to the achievement of various United Nations Sustainable Development Goals.

The project is independently verified to ensure the highest environmental integrity and credits are dedicated to immediate emission reductions, supporting the transition to a low carbon global economy. The purchase of VCS credits is in line with Equitable’s commitment to fight climate change.

About WSP
As one of the world’s leading professional services companies, WSP provides engineering and design services to clients in the transportation and infrastructure, real estate and buildings, environment, energy and energy, resources and industry, as well as strategic advisory services. WSP’s global experts include engineers, consultants, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and management professionals. construction. Our talented people are well positioned to deliver successful and sustainable projects, wherever our clients need us.

About Natural Capital Partners
With more than 300 clients in 34 countries, including Microsoft, MetLife, Sky, Logitech and PwC, Natural Capital Partners harnesses the power of business to create a more sustainable world. Thanks to a global network of projects, the company offers solutions of the highest quality to make real change possible and achieve carbon neutral, 100% renewable and net zero objectives: reducing carbon emissions, producing energy. renewable energy, conserve and restore forests and biodiversity, and improve health and livelihoods. Natural Capital Partners was founded in 1997 and has teams in the United States, Europe, Asia and central America. It has been recognized as the best compensation retailer by Environmental Finance for the past 10 years.

Equitable Bank becomes carbon neutral (CNW Group / Equitable Bank)

Equitable Bank becomes carbon neutral (CNW Group / Equitable Bank)

Equitable Bank SOURCE



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