Equitable Bank becomes carbon neutral

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. “

Methodology
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 (eqbank.ca), was named the No. 1 bank in Canada on Forbes’ list of the best banks in the world 2021. Please visit fairbank.ca 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. wsp.com/fr-CA

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)

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