GLOBE Forum 2024 Recap and Highlight Reel

It’s been just over a month since we wrapped GLOBE Forum 2024 (Feb. 13-15) in Vancouver!

We’re still feeling inspired by the interconnectedness, collaboration, and respect at the core of all three days of programming.

Watch as GLOBE Series President Elizabeth Shirt reflects on the importance of accelerating solutions for Reaching Destination Net Zero, Restoring and Protecting Nature, Ensuring Water Security, and Building Resilient Communities, and shares why this community of changemakers gives her hope for our climate future.

A regenerative future is inherently hopeful and coming together is one of the most impactful ways we can share the information, resources, and inspiration needed to achieve our climate and sustainability goals.

Thank you to every one of our delegates, speakers, partners, and collaborators for your passion and dedication to making this year’s GLOBE Forum our most intersectional and solutions-focused yet!

 

What people are saying about GLOBE Forum 2024

 

“Thank you for a great conference! I’m excited to take everything we talked about this year and put it into action next year so that we’re all aligned and rowing in the right direction, together.​”
—Rachel Mador-House, Head of Scientific Affairs – North America, NatureMetrics

 

“Having typically attended industry-specific conferences, GLOBE presented a great opportunity to learn from folks in other industries facing similar or completely different challenges.”
—Laura Swaffield, Environmental Impact Lead, MEC​

 

“Seeing so many Indigenous leaders fully integrated into several (if not most?) of the panels. The opening ceremony was beautiful and I really appreciate the introspection that Pattie Gonia brought to the conversation. I also really appreciated the mix of spaces for people to visit, speed network, etc.”
—Raylene Whitford, Director and Principal, Canative Energy​

 

“Participating in GLOBE Forum was an enriching experience that allowed me to learn new things, meet inspiring individuals, and engage in valuable networking opportunities. The discussions and insights shared throughout the event were both enlightening and motivating… The connections made and the knowledge gained will undoubtedly have a positive impact on my endeavors moving forward.”​
—Deress Asghedom, Founder & CEO, Vasterapp​

 

 

Photo Highlights and Galleries

 

 

Explore our 2024 Flickr Albums, find your favourites and tag GLOBE Series on LinkedInTwitter/XFacebook, and Instagram to add your voice to the conversation.

 

feb. 13 GALLERY               feb. 14 GALLERY ⟶              feb. 15 GALLERY ⟶

 

 

Save the Date for GLOBExCHANGE 2025 

 

Feb. 11-13, 2025

GLOBExCHANGE 2025 | The Future is Regenerative

Sheraton Centre Toronto Hotel

Highlights from Feb. 15 at GLOBE Forum 2024

That’s a wrap on GLOBE Forum 2024!

Agency, interconnectedness, collaboration, and reciprocity were all at the core of today’s final day of programming. A regenerative future is inherently hopeful and coming together is one of the most impactful ways we can share the information, resources, and optimism needed to achieve our climate and sustainability goals.

Watch as GLOBE Series’ Elizabeth Shirt reflects on Feb. 15 at GLOBE Forum and consider these words of family and partnership from Sustainable Energy & Sovereignty Specialist, Jordyn Burnouf:

“We’re all here handing out business cards, connecting, to build a better future – one where the world exists and where we can be together – and are actively participating in a foundational teaching of Indigenous governance. We talk about SDGs, business development, equity partnerships but what it really is, is kinship.”

Highlights from Feb. 13 and Feb. 14 at GLOBE Forum 2024

The first full day of GLOBE Forum 2024 programming was an action-packed, inspiration-filled sprint to create a regenerative, resilient, net-zero future. From starting off in a good way with the Squamish Nation’s Spokesperson Wilson Williams and the Children of Takaya Dancers of Tsleil-Waututh Nation, to plenary deep dives on building resilient communities, ensuring water security, reaching destination net zero, and restoring and protecting nature. We heard from diverse leaders including Hon. Sean Fraser, Premier David Eby, Secwepemcul’ecw Restoration and Stewardship Society (SRSS) CEO Angela Kane, Hon. Nathan Cullen, WWF-Canada’s Megan Leslie, the iconic Pattie Gonia, and many more. We can’t wait for what tomorrow brings!

Watch to hear from GLOBE Series’ President, Elizabeth Shirt, and catch up on all the GLOBE Forum 2024 highlights so far.

 

Canada’s Minister of Energy & Natural Resources on the Clean Economy & GLOBE Forum 2024

We’ve had the pleasure of collaborating on several GLOBE Forum sessions with Canada’s Ministry of Energy & Natural Resources, as well as the privilege of the Honourable Jonathan Wilkinson’s attendance at several GLOBE events in the past. Watch as the Minister joins GLOBE Series President Elizabeth Shirt to discuss what’s next for the clean economy in Canada, the addition of “Energy” to his portfolio, and where he’ll be during GLOBE Forum 2024.

Continue the conversation Feb. 13-15 in Vancouver with leadership sessions presented in collaboration with Natural Resources Canada (NRCan), Canadian Northern Economic Development Agency (CanNor), Coast to Coast Experiences/ Novex, and more:

10×10 Takes: Getting Down to Business at GxC with MaRS Discovery District’s Tyler Hamilton

Our upcoming event, GLOBExCHANGE (Feb. 27-Mar. 1, 2023) builds on our recently published 10×10 Matrix, which identifies the 10 areas where we need to take action in the next 10 years to get to net zero.

In our 10×10 Takes video series we’re talking with climate leaders who are working to advance these action areas. First up, let’s get down to business on Unlocking Innovation with MaRS Discovery District’s Senior Director of Cleantech, Tyler Hamilton.

 

GLOBE Series updates straight to your inbox.

Black and white building

GLOBE Advance 2021: Scaling Cleantech in Canada – Summary Report

As Canadian governments and corporations commit to net zero by 2050 targets, accelerating market deployment of clean solutions has become an increasingly urgent imperative. Building on insights gained from GLOBE Advance 2020, the Scaling Cleantech in Canada session hosted at GLOBE Capital 2021 focused on the barriers impeding cleantech deployment, solutions, and leadership.

In partnership with Emissions Reduction Alberta (ERA) and sponsored by Foresight Cleantech Accelerator Canada (Foresight) and the Natural Gas Innovation Fund (NGIF), GLOBE Series and The Delphi Group engaged 70 workshop participants and speakers from Tourmaline, Intelligent City, Foresight, and ERA to discuss key barriers, best practices, and lessons learned in deploying and scaling cleantech in Canada.

The partners and sponsors involved in this initiative hope that this summary supports advancing scaling and deployment of cleantech in Canada and welcome any stakeholder feedback. Stay tuned for the next outcomes-oriented installment of Scaling Cleantech in Canada at GLOBE Forum 2022!

Report (pdf)

Website Feature Images - Andrea Brecka Shell Guest blog

Q&A with Andrea Brecka, GM Retail, Director & Vice President, Shell Canada

GUEST CONTENT

With over 1,300 Shell stations in Canada, filling up under that bright red and yellow sign is a weekly ritual for many Canadians. It’s also one of the activities that generates the most carbon emissions—a quarter of Canada’s carbon footprint is attributed to transportation. Consumers know this and they’re continuing to demand new solutions to reduce their emissions. As GM of Shell’s retail fuels division in Canada, Andrea Brecka leads the company’s efforts to put the customer first. We caught up with her to learn more about how Shell is investing in innovation to transform what it means to “fill ‘er up”.

 

You have joined the Canadian government, 100 other countries and many of the world’s largest corporations in committing to net-zero emissions by 2050. To achieve this target on a global scale, the latest International Energy Agency report recommends no new oil and gas developments. What does a net-zero future mean for Shell?

Climate change is a very urgent challenge and tackling it requires a fundamental transformation of the global economy, including the energy system. That’s why Shell has stepped forward to set a net-zero-by-2050 target in lockstep with society’s progress and the Paris Agreement.

How will we do that? We’ve identified six levers to help Shell and our customers decarbonize:

  1. Reducing emissions in our operations.
  2. Shifting to natural gas.
  3. Growing a low-carbon power business to provide more renewable electricity and electric vehicle charging points.
  4. Providing low-carbon fuels, such as biofuels or hydrogen.
  5. Developing carbon capture and storage, which we’ve already started in Canada.
  6. Using natural carbon sinks like forests to absorb greenhouse gas emissions.

In terms of the IEA conclusions, they’re based on scenarios and, therefore the demand and supply modeling varies. Shell’s oil production peaked in 2019. Further, we don’t foresee any frontier explorations beyond 2025. All to say, this net-zero commitment is critical for Shell.

 

I understand Shell Canada has taken steps to reduce Scope 3 emissions. Could you share more about this strategy and why it’s important?

Absolutely. I think it’s fundamentally important that everybody understands what we mean by Scope 1, 2, and 3. We define Scope 1 and 2 as the emissions generated from the extraction and production of the energy products we sell. Scope 3 emissions are generated by the end use of these products. Many people are surprised that more than 90% of Shell’s emissions are Scope 3. The other element that people may not know is that Shell sells many products from other companies, including energy products. In fact, we sell more than three times the energy we produce ourselves. This is why it’s significant that Shell has chosen a commitment to reduce Scope 3 emissions.

I’ll share an example of how we’re helping our customers reduce emissions. Last year, we were the very first fuels retailer in Canada to launch a Drive Carbon Neutral program for our customers to help offset emissions from fuel purchases. Most recently, we’ve announced that carbon-neutral lubricants will be available to customers in key markets, including Canada. This program will offset approximately 700,000 tonnes of CO2 emissions per year.

 

Tell us more about your new carbon-neutral driving offer.

For a number of years, many customers have been telling us they’re interested in reducing their carbon footprint, but an electric vehicle (EV) is not an option at this time. The Drive Carbon Neutral program helps them have an impact even if they don’t own an EV. It’s very simple to participate: from now until Sept. 7, when customers opt in via the Shell EasyPay app, Shell will offset the emissions from their fuel purchase. It’s a great experience and I highly encourage all our customers to participate.

Alternatively, customers can come inside the store at participating locations and pay 2 cents per litre to offset their emissions. What happens after that? Shell purchases independently verified carbon credits that are generated from either Canadian or international projects designed to protect or restore the natural landscape.

I’m happy to say that, since the launch of this program, we have offset approximately 15 million litres of fuel. The customer feedback is overwhelmingly positive. We’re continuing to evolve the offer and there will be more to come later this year. Stay tuned!

 

Consumer demand for alternative fuels is growing. How is Shell supporting innovation to meet that demand?

As I referenced earlier, it’s important to be in lockstep with customer demands. In Canada, I’m proud to say that we’ve not only embraced, but I feel like we embody the energy transition. In the last five years, we have transitioned our business from heavy oil to natural gas, we’ve implemented carbon capture and storage here in Alberta, and we continue to do more and more with respect to lower-carbon fuels and renewables. We’re also making a much wider range of lower-carbon products available, such as biofuels and hydrogen, while also increasing the number of charge points for battery electric vehicles.

To give a hydrogen example, Shell has partnered with a hydrogen technology and energy company called HTEC to build two hydrogen refueling stations in the greater Vancouver area. On the biofuels side, there are a couple of innovation examples. We have a 40% interest in the $875 million commercial-scale Varennes carbon recycling plant—the first ever waste-to-low-carbon-fuels plant in Quebec. Secondly, Shell Ventures has made an equity investment in Forge Hydrocarbons Corporation to build a first-of-its-kind $30 million commercial-scale biofuel production plant in Ontario. We’ve also acquired Greenlots, an EV solutions provider, and we will be building EV charging stations across Canada and in the U.S. These are just a few examples of investments Shell has made to advance innovation and accelerate progress.

 

It’s 2030. I pull into a Shell station. What does it look like?

I think the future retail station will have a mosaic of solutions. Certainly, when you think about the kinds of fueling offers, EV, hydrogen, and biofuels will be standard. We will build future retail stations to be carbon neutral, perhaps taking advantage of solar panels or geothermal power. Lastly, I think about our customers. We have a vision to provide an oasis within the store. In 2030, we’ll have great lounge areas with wifi for people to connect or catch up on some work. In addition to the foods and beverages we have now, we’ll also offer healthier solutions for our customers. We think of our retail stations as not just fueling vehicles, but fueling bodies and minds.

 

How is Shell addressing calls for a just transition? And as a former president of Shell Canada’s Women’s Network, what role do you see for diversity and inclusion as we transition to a clean economy?

I’m proud to say that when Shell looks at projects like LNG in new areas, we work hard to get to know the communities. That means understanding the community’s wants, meeting its workforce, and addressing local partnerships in a way that’s fair, just, and inclusive.

In my work in the retail business last year, we launched the Fuel Service app. For most of us, fueling your car is a seamless experience, but for some individuals with disabilities, it can be daunting. To address that challenge, we partnered with Fuel Service. Now, individuals have the ability to call ahead and see if a retail station is able to assist them in their fueling.

I’ve worked with Shell for almost three decades. One of the reasons I’ve been here as long as I have is because Shell believes in and takes action on diversity, inclusion, and equity. Even in the last year, Shell is going through a major reorganization and we’ve made a very intentional effort to ensure our leadership team is diverse. This has been wonderful. Everybody wants role models to look up to. Diversity means better quality decisions and better business outcomes.

 

If you could invite three people, either alive today or no longer with us, to a conversation about the future of energy in Canada, who would they be?

I love this question. I thought long and hard about it. One would be Brian Mulroney. I saw him speak at a Pollution Probe gala last year and in his speech, he said “Successful leaders do not impose unpopular ideas on the public. They make unpopular ideas acceptable to the nation, and that takes courage.” When I think about his legacy of really tackling tough environmental challenges and what he’s been able to accomplish, it’s very inspiring. I would love to ask him how he managed the many challenges and different stakeholders to ultimately make progress.

I also thought about Generation Z and my two young adult daughters. When I think about that generation and what’s important to them, I would love to start a conversation about what they think about companies like Shell. How do they see us playing a role in tackling climate change? I’d love to just listen to their perspectives and have a debate.

Lastly, Elon Musk is a pioneer and a visionary. He’s courageous, bold, and willing to fail fast to make progress. Wow. For a company like Shell that’s undertaking transformational changes, learning from someone who is willing to take a risk to commercialize ideas would be fascinating.

GLOBE Capital Q&A: Jonathan Fowlie, Chief External Relations Officer, Vancity Credit Union

GUEST CONTENT 

“We must work towards a climate transition that puts people at its centre and leaves no one behind,” Vancity proclaims as part of its commitment to net-zero by 2040. After a year when our environment and social safety nets were tested like never before, this approach seems very timely. Jonathan Fowlie, Chief External Relations Officer, Vancity Credit Union, joined No One Left Behind: How We Build a Just Transition to the Net-Zero Economy at GLOBE Capital to discuss the role of financial institutions in supporting a just transition. We caught up with Mr. Fowlie to learn more about how Vancity has integrated an equity lens into its climate commitments.

 

Tell us more about Vancity’s net-zero commitments.

We’ve recently released five commitments on climate action and climate justice that take a holistic approach to how we as a financial institution can respond to the climate emergency. It starts with decarbonization and getting our lending portfolio to net-zero. We’re also working to enable responsible investments that create a clean and fair future. This past year has exemplified how a global event can widen the systemic gaps in our economy. The climate emergency is having and could have a similar impact. We’re applying this systemic view to climate change to anticipate community and economic impacts.

 

Earlier this year, Vancity became the first financial institution in Canada to make a commitment to net-zero emissions by 2040 across your full lending portfolio. To ensure success, you’ve gone one step further by also committing to regular targets on the road to 2040—the first of which will be in 2025. How will you set that 2025 target?

In its most basic form, Vancity was carbon neutral across our operations in 2008. We know we can have a much greater impact on reducing emissions by extending this commitment to what we finance, i.e. the loans we give people to buy homes or start businesses. Our 2025 target will aim to reduce these finance-related emissions.

The first step is understanding the carbon footprint of our loans. If you have a Vancity mortgage on your house, what are your emissions and how do we record that? Our most recent annual report discloses the emissions that we estimate to be associated with our loans. The next step, which we’re undertaking right now, is a rigorous science-based process to understand Vancity’s pathway to net zero with that inclusive lens in mind. Once we identify that pathway, we’ll engage government to ensure we’re aligning with current regulations. Then, we’ll be ready to publicly commit to targets that are aggressive, achievable, and science-based.

 

What actions is Vancity taking to incorporate equity into its climate work and why do you think it’s important that we include equity in climate finance conversations?

Getting to net zero is important. How we get there is essential. As I mentioned earlier, the pandemic has shown us the impact a global event can have on marginalized communities. We also saw how a financial institution like Vancity can immediately meet those needs. We have a history of financial inclusion—of trying to serve the underserved. That approach has become all the more relevant during the pandemic.

For example, on Vancouver’s Downtown Eastside, health restrictions have interrupted a lot of the services that residents rely on. In the first months of the pandemic, various levels of government introduced new and increased benefits to support the safety and well-being of vulnerable and hard-hit individuals. As a financial institution, our role is to form a bridge between the resources being made available and the people who need to access them.

Our Pigeon Park Savings branch was the only financial institution in the Downtown Eastside that stayed open during the height of the pandemic. We see this as an illustration of financial inclusion and how it can ensure systemic gaps aren’t widened in extreme situations.

We’re taking the same approach to the climate emergency with a view to ensuring the transition to a clean economy will be equitable and just. That means talking a little bit less about decarbonization and climate and more about understanding existing inequities and of course, including marginalized communities in that conversation.

 

When it comes to the just transition, what do you think is the biggest opportunity and the biggest challenge?

The biggest challenge is ensuring the transition is just. What do I mean by that? We’re at a place where we look ahead to the effects of climate change and we’re still not entirely clear on the questions we need to ask, the things we need to measure, and the actions we need to take. Some are apparent, but some, as we saw during the pandemic, emerge as secondary and tertiary issues. How do we ensure we can adjust and be flexible?

Conversely, the biggest opportunity is to re-imagine our economy. How can we shift, innovate, create leaders, and form the jobs of tomorrow? We’ll need to consider the skillsets of people across our economy. Part of that is considering the workforce that will need to transition from a job that might not exist 10 years from now into a job that is driving innovation. It’s also about creating opportunities that make our economy more equitable and inclusive.

When you ask people: do you think there needs to be a fundamental change towards an economy that is cleaner and fairer? Unanimously, you get a yes. It’s not at all clear exactly what that future looks like, but that consensus creates an opportunity to chart a new path.

 

How can financial institutions take a leadership role in the just transition?

Financial institutions like credit unions and banks make crucial decisions every day about where money goes, what gets funded, and who benefits. So, we have a crucial role to play in determining the future economy and frankly the future of our planet. Accordingly, there are a number of questions that all financial institutions should be asking: Are we just offsetting climate impacts? Are we working to avoid them in the first place? How are we measuring the changes to our balance sheet in a rigorous way that ensures transparency? Finally, how do we ensure that the actions we are taking are leading towards an economy that is both clean and fair? I strongly believe that we have an obligation to understand the impacts of our decisions on where to allocate capital, because those who have the least to do with causing climate change in the first place are those who will be impacted the most and who will have the least available resources to adapt. We have a unique opportunity right now to learn from the past and explore what it means to truly build back better.

 

If you could ask the GLOBE Capital community to take one action, what would it be?

I’d ask the GLOBE Capital community to bring an equity lens to every action they take on climate. For example, when you’re looking at climate risk across a portfolio of buildings, consider the demographics of the locations and local people’s ability to adapt. Considering equity means asking: are there choices that we can make today to ensure we’re not only protecting our investments against climate risk, but we’re also fostering equity and resilience? It goes back to the premise that yes, we need to decarbonize. We could do that overnight by just stopping funding a variety of activities, but that’s neither practical nor will it lead to an equitable economy and society. So, we need to ensure we’re inviting everyone into the conversation and framing that conversation in a way where everyone, particularly marginalized communities, can see themselves reflected.

GLOBE Capital Q&A: Bryan Gilvesy, Chief Executive Officer, ALUS

GUEST CONTENT

The Canadian countryside conjures up images of both vast wilderness and plaid-clan farmers in bright red tractors. The first is a symbol of conservation and nature; the second a symbol of economy and production. ALUS is blurring those lines to bring us an innovative approach to nature-based solutions. Its New Acre Project helps corporations exceed sustainability objectives by supporting farmers and ranchers to build nature on their land one acre at a time. Bryan Gilvesy, Chief Executive Officer, ALUS, joined Not Your Grandpa’s Farm: Welcome to the NEW Bioeconomy at GLOBE Capital to discuss the financial, environmental, and social opportunities of a bioeconomy. We caught up with Mr. Gilvesy to learn about the great potential for ecosystem services through agriculture.

 

Was there a Eureka moment for you in terms of understanding the role for agriculture in fighting climate change?

Yes, there was. I was the third participant farmer to enroll in the ALUS program in 2006. The project that intrigued me at the time was the restoration of the native tall grass prairie here on my ranch in Norfolk County, Ontario. As I learned more about the grass, I realized it had extraordinarily long roots—12-16 feet—with a root ball that replenished itself every two years making it highly effective at sequestering carbon into the soil.

And then, because of the technical support offered by ALUS, my learning only grew. I realized that the grass prairie supports a whole suite of grassland birds like the meadow lark, and it was an important habitat for endangered species, like the American badger. My land became home to a whole suite of native pollinators that I didn’t even know existed. On top of that, those deep roots meant these grasses were extremely drought tolerant and could form part of my drought season feed for my cattle.

This was an ‘aha’ moment for me. I realized how effective native ecotypes can be at sequestering carbon and supporting biodiversity.

 

What makes an ALUS farmer different from the farmer down the road?

ALUS farmers come to view their farm as multifunctional. They don’t just see it as a means of producing food and fibre, but they also see that they can build natural capital, sequester carbon, increase biodiversity, foster climate resilience, and support wetlands and water. We’re all beginning to recognize that these things have value in the marketplace. ALUS farmers have come to the realization that their farm can be productive beyond the one thing they’ve typically been paid to produce.

 

What are some common misconceptions about farmers and ranchers and climate change?

Traditionally, we haven’t seen farmers as solution providers for climate change, but I think that notion is disappearing.

One misconception that’s still common is: we often interpret climate action as only the reduction of greenhouse gas emissions. It’s so much more than that. When farmers take climate action through nature, it creates a tremendous amount of leverage. You get a whole suite of co-benefits for biodiversity, resilience, water filtration, and more. Further, sequestering carbon effectively means improving soil, which makes our food stores more resilient as well.

ALUS’ New Acre Project captures the full suite of benefits that come from climate action on a farm and makes those benefits available through a marketplace.

 

Nature-based solutions have exploded in popularity in recent years. For professionals who are new to this space, where do you recommend they start?

I think they should start at the beginning by understanding how native plants function. Plants are part of the carbon cycle. They are energized by the sun and by breathing in carbon dioxide, which they then deposit into the soil through their roots. To reduce greenhouse gas emissions, we need more of this carbon cycle in the world. Native plants established in the correct locations using the correct ecotypes provide the ideal solution. These native plants don’t just absorb carbon, but they also serve as habitat for pollinators, water filtration devices, and habitat for endangered species. With all of this in mind, the advantages of nature-based solutions over mechanical solutions for carbon capture become more obvious.

 

Could you tell me more about your recent announcement with A&W Canada and Cargill and how it will help us achieve a net-zero future?

Sure. We’re really pleased that A&W Canada and Cargill have collaborated with us to create the Grazing Forward program, which is an extension of the New Acre Project at ALUS. This program will accelerate and enhance rancher-led grazing projects that mitigate climate change. A&W Canada and Cargill have generously committed $1.8 million over three years to support ranchers in Alberta, Saskatchewan, and Manitoba as they continue to scale regenerative agriculture practices. The program is expected to sequester up to 12,578 MT greenhouse gas emissions per year, equivalent to more than 50 million kilometres driven by the average passenger vehicle.  ALUS will take a hands-on, local approach, working with interested Canadian beef ranchers to plan and implement practices that contribute to environmental outcomes. This effort will impact more than 6,000 acres and engage ranchers in 20 communities, extending the New Acre Project’s current reach by 233%. Needless to say, we’re very excited about it!

 

What was your biggest takeaway from GLOBE Capital?

Well, it was a pleasant experience for us, because our session included a poll asking attendees for their opinion on the greatest opportunity in the bioeconomy. Obviously, we thought emission reductions would be number one, but biodiversity rose to the top as a very important issue for the attendees, which is mostly a business audience. I would not have that expected that. It’s a pleasant surprise for us, because we believe biodiversity is the apex indicator of environmental health, and economic prosperity. If biodiversity shows up, we’ve put the right plants in the right places and managed them correctly. Biodiversity is a sign of a more resilient climate.

GLOBE Capital Q et R : Stéphane Villemain, Vice-président Responsabilité sociale d’entreprise, Ivanhoé Cambridge

CONTENU COMMANDITAIRE

Stéphane Villemain, Vice-président Responsabilité sociale d’entreprise, Ivanhoé Cambridge, s’est joint au panel Reimagining our Infrastructure de GLOBE Capital afin d’échanger sur sa vision d’une infrastructure mondiale favorisant la résilience et matérialisant un avenir net-zéro. Nous avons fait un suivi avec M. Villemain pour en savoir plus sur le récent engagement net-zéro d’Ivanhoé Cambridge et ses plans concrétiser ce projet.

 

Que retenez-vous principalement de GLOBE Capital ?

L’intérêt du secteur financier pour l’ESG et en particulier pour le changement climatique est en pleine croissance, c’est fascinant. Il y a à peine 3-4 ans, seule une poignée d’institutions financières au Canada avait pris des engagements dans ce domaine. Le changement climatique est maintenant largement reconnu comme un risque et une opportunité d’investissement et Globe Capital est un excellent lieu pour apprendre de ses pairs sur la meilleure façon d’aborder ce défi.

 

Le mois dernier, Ivanhoé Cambridge a annoncé son engagement à atteindre la neutralité carbone pour son portefeuille international d’ici 2040. Qu’est-ce qui a motivé cet objectif ?

Chez Ivanhoé Cambridge, nous avons la conviction qu’il est de notre devoir d’avoir un impact positif sur l’environnement. L’urgence climatique nous pousse à aller plus vite, et plus loin.

Notre secteur (l’immobilier et la construction) est responsable d’une grande part des émissions de gaz à effet de serre (40%) et en même temps en subit les risques. Le changement climatique menace nos actifs au travers d’événements climatiques extrêmes dont on anticipe qu’ils seront plus nombreux et sévères. D’un autre côté, une transition vers une économie propre ouvre beaucoup d’opportunités et renforcera la résilience de nos actifs. Nous savons aussi que les investissements durables sont plus profitables sur le long terme. Ne rien faire sera nécessairement plus coûteux.

En fixant une cible net-zéro carbone, notre objectif est à la fois ambitieux et réaliste. Nous nous appuyons sur une approche scientifique en ligne avec l’Accord de Paris de 2015 et nous considérons notre performance carbone actuelle, notre stratégie d’investissement, les cibles carbone des pays dans lesquels nous investissons, et les outils récemment développés dans notre industrie, comme le Carbon Risk Real Estate Monitor (CRREM).

J’ajoute que pour atteindre sa cible net-zéro carbone d’ici 2040 Ivanhoé Cambridge a fixé des jalons. Nous nous sommes engagés à réduire notre intensité carbone de 35% d’ici 2025 par rapport à 2017, à augmenter nos investissement sobres en carbone de plus de $6B (€4M) d’ici 2025 (par rapport à 2020), et à rendre tous nos développements net-zéro carbone à partir de 2025. Ces nouvelles cibles carbone portent sur la portion de notre portefeuille en exploitation et en détention directe (i.e. la majeure partie de notre portefeuille, là où nous pouvons avoir le plus d’impact).

 

Quels sont les moyens que vous allez employer pour atteindre cet objectif ?

Concrètement, nous utiliserons trois principaux leviers : l’efficacité énergétique, l’énergie décarbonée, et de nouveaux développements.

L’énergie la plus propre est celle qu’on ne consomme pas. Ainsi, l’amélioration de la performance énergétique de nos principaux actifs devrait contribuer à plus de 20% de notre objectif. Nous travaillons également sur la consommation d’eau, la gestion des déchets et des ressources.

Deuxièmement, nous visons à réduire significativement l’utilisation des énergies fossiles dans nos propriétés, et accroître au maximum la part des énergies renouvelables, soit en la produisant sur site (panneaux solaires par exemple), soit en s’assurant que l’énergie acheminée est renouvelable. Cela devrait contribuer également à plus de 25% de notre objectif. Nous estimons également à 30% la part de notre objectif qui sera atteinte grâce aux efforts de transition énergétique des fournisseurs d’électricité, qui décarbonent leurs réseaux.

Troisièmement, 20% de notre cible sera atteinte grâce à la construction de propriétés bas-carbone, à partir de 2025).

En ligne avec le World Green Building Council, nous définissons un bâtiment net zéro carbone opérationnel comme un bâtiment à haute efficacité énergétique et entièrement alimenté par des énergies renouvelables sur site ou hors site, incluant en dernière priorité la compensation des émissions opérationnelles carbone restante).

La partie résiduelle de notre objectif net-zéro carbone pourra être atteinte via une stratégie de compensation carbone, en dernière priorité.

Pour favoriser notre réussite, nous lions une partie de la rémunération de nos employés à l’atteinte de nos cibles carbone, parmi d’autres tactiques.

 

Quelle partie du chemin avez-vous déjà parcourue ?

En 2017, Ivanhoé Cambridge avait pris l’engagement de réduire son intensité carbone de 25% d’ici 2025. Nous avions déjà atteint une réduction de près de 20% en 2019. C’est pourquoi cette cible a été relevée à 35%. Depuis 2017, Ivanhoé Cambridge a augmenté de près de 200% ses investissements sobres en carbone, soit 14,6B CAD (au 31 décembre 2020).

 

Comment la durabilité se traduit-elle économiquement chez Ivanhoé Cambridge ?

Nous souhaitons opérer un alignement plus qu’une opposition entre performance durable et performance financière.

La pérennité de notre portefeuille nous aidera à bien performer dans les années à venir et saisir ces occasions nécessite d’intégrer le climat dans notre analyse d’investissement et dans la gestion de nos actifs.

Nous considérons que ces engagements constituent une stratégie de création de valeur. Promouvoir l’efficacité énergétique et l’innovation dans l’opération de nos bâtiments, c’est contribuer à prolonger leur durée de vie (« future-proofing »), réduire les risques d’obsolescence et anticiper de futures règlementations et coûts liés au carbone.

Nos bons résultats en matière de décarbonation nous permettent d’augmenter nos financements verts, dont les conditions sont en partie liées à notre intensité carbone. Par exemple, plus l’intensité carbone de notre portefeuille est faible, moindre est le coût de notre dette. Notre ambition est d’accroitre et de diversifier ces financements.

 

Comment intégrez-vous le climat dans vos investissements ?

Le climat est systématiquement intégré dans notre analyse d’investissement pour toutes nos nouvelles transactions, ainsi que notre gestion d’actifs : chaque transaction est évaluée en fonction des risques climatiques et de son impact sur l’empreinte carbone de notre portefeuille et sur nos cibles.

La majorité de nos quelques 1,100 propriétés est également évaluée en fonction de son exposition aux risques climatiques actuels et futurs.

Les changements climatiques ont et auront un impact sur le risque et les rendements de notre portefeuille. Nous évaluons ces impacts selon 2 dimensions : 1) l’atténuation des changements climatiques (efficacité énergétique, énergie propre, matériaux de construction comme le bois (CLT) qui entraînent des réductions d’émissions de carbone liées à la construction et à l’exploitation de nos propriétés ; 2) l’adaptation climatique, c’est-à-dire l’optimisation de la résilience de nos propriétés dans un contexte de changements climatiques, par exemple à l’image des risques d’inondation dans certaines régions.

 

Un sacré défi vous attend. Quelles sont les prochaines étapes ?

Nous voyons tout cela comme une progression.

Aujourd’hui, notre stratégie est principalement axée sur le carbone opérationnel lié à la consommation énergétique de nos propriétés. D’ici les deux prochaines années, nous travaillerons également sur le carbone associé à la construction, particulièrement au regard des matériaux utilisés.

Nous fixons un cap : nous ne prétendons pas avoir toutes les réponses aujourd’hui, mais nous croyons que nos récentes réalisations et cette cible ambitieuse et réaliste nous donnent un bon départ.