National Bank of Canada Signs an Agreement with the Nature Conservancy of Canada to Purchase Carbon Credits from the Darkwoods Project

VANCOUVER, April 22, 2020 /CNW Telbec/ - To mark Earth Day, National Bank of Canada is proud to announce that it has signed an agreement to purchase carbon credits from the Nature Conservancy of Canada (NCC) as part of the Darkwoods Forest Carbon Project, one of the largest carbon projects in North America.

Located in British Columbia, the Darkwoods Conservation Area is a 63,000-hectare property that was acquired by NCC in 2008 to preserve its ecologically important features, including the fact that it is a significant source of fresh water. The purchase of carbon credits is an additional step the Bank has taken to achieve its goal of carbon neutrality.

Quotes

"It's a true honour and a privilege for the Bank to contribute actively to preserving Darkwoods Forest, an invaluable ecological reserve in British Columbia. This agreement clearly demonstrates our commitment to protecting natural habitats and biodiversity," said Benjamin West, Vice President and Regional Manager – British Columbia at National Bank Financial – Wealth Management.

"We are pleased to work with National Bank of Canada in their efforts towards achieving carbon neutrality. By purchasing Darkwoods Forest Carbon offsets, National Bank of Canada is demonstrating their commitment to reducing their greenhouse gas emissions and taking responsibility for the impact of their energy use on the planet. This purchase directly supports meaningful and tangible conservation of inland temperate rainforest in British Columbia," said Robert P. Wilson, Director, Conservation Finance, New Conservation Strategies at Nature Conservancy of Canada.

About National Bank of Canada

With $289 billion in assets as at January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such asFacebook, LinkedIn and Twitter.

About Nature Conservancy of Canada

The Nature Conservancy of Canada (NCC) is the nation's leading not-for-profit, private land conservation organization, working to protect our most important natural areas and the species they sustain. Since 1962, NCC and its partners have helped to conserve 14 million hectares (35 million acres), coast to coast to coast. To learn more, visit natureconservancy.ca.

SOURCE National Bank of Canada

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