BMO Financial Group signs a multi-year purchase agreement with Will Solutions Inc. (Will) for VCU titles from Will's Sustainable Community
Apr 24, 2017, 12:01 ET
BELOEIL, QC, April 24, 2017 /CNW Telbec/ - It's with enthusiasm that Martin Clermont, CEO of Will Solutions announces the conclusion of a multi-year contract with BMO Financial Group for the sale of its voluntary carbon units (VCU) from its Quebec Sustainable Community (SC) project developed under the Verified Carbon Standard (VCS).
The SC project was validated and its GHG reductions were verified under the VCS Program. The VCS Program is the world's most widely used voluntary GHG program. More than 1 300 certified VCS projects have collectively reduced or removed more than 200 million tonnes of GHG emissions from the atmosphere. Each verified carbon unit (VCU) accounts for a reduction of one ton of CO2e.
The Sustainable Community Solution aggregates GHG reductions from thousands of micro-projects realized by both private and public small and medium-sized enterprises (SMEs), non-subject to Cap and Trade programs, having made a totally voluntary decision beyond the business as usual common practices.
"These micro-projects originate from SMEs and other non-subjected organizations in the Industrial, commercial and institutional sectors all located inside the province of Quebec. BMO has a strong client base among the SMEs and we are proud to support their voluntary initiatives which took place in many communities where our bank has maintained a solid presence over the last 200 years" said Mario Rigante, Senior Vice-President, Quebec Division, BMO Financial Group.
BMO Financial Group achieved enterprise-wide carbon neutrality in August 2010. This was accomplished through reductions in energy consumption in its real estate facilities and for employees' business-related travel, investments in electricity from renewable sources and the purchase of high-quality voluntary carbon credits like the ones supplied by Will Solutions.
Established in 1817, BMO Financial Group is a highly diversified financial services provider based in North America. With total assets of $692 billion as of January 31, 2017, and close to 45,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets.
Will Solutions Inc. is recognized for its innovative Sustainable Community solution promoting the reduction of GHG emissions. In a community approach, Will regroups eligible GHG reductions from micro-projects associated to the valorisation of waste as well as from conversion and energy efficiency realized in buildings. This permits the stimulation and quantification of efforts that reduce GHG's so that they may be converted into exchangeable carbon -offsets to be sold on the voluntary market.
VCS supports climate action and sustainable development with standards, tools and programs that assess environmental and social impacts. Founded in 2005 by environmental and business leaders who saw the need for greater quality assurance in voluntary carbon markets, VCS now serves as a secretariat for the various standards they develop and programs they manage, as well as an incubator of new ideas that can generate meaningful environmental and social value at scale. VCS is a 501c3 organization headquartered in Washington, DC, with remote staff in various parts of the world.
About Sustainable Community Solution
The Sustainable Community Solution, powered by Will, targets small final emitters (businesses, local governments and organizations) that share a common territory and clusters them into a Community. Each Community can include thousands of individual stakeholders that aim to reduce their GHG emissions. A Community motivates local administrators to further reduce GHG emissions by allowing them to share key information, solutions and business opportunities regarding sustainable development.
Will's Sustainable Community Solution encourages, quantifies and clusters together small individual GHG reduction efforts into a large aggregated volume which can then be converted into the highest-quality carbon credits. The GHG reductions mentioned above come from diverse sources of micro-projects such as conversion and energy efficiency for buildings, redirection of waste away from landfills and will include at a later date an optimal usage of transportation for businesses.
SOURCE Will Solutions
For further information: Mr. Martin Clermont, Chief Executive Officer at 514.990.2124 Ext.1 or [email protected]
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