In 2022, FGM committed to buying carbon credits each year in order to offset its greenhouse gas (GHG) emissions. This commitment targets those generated on an organizational level as well as those generated by its employees acting in a professional capacity. Emissions were estimated using a tool developed by COOP Carbone, a recognized authority in this area. These factors went into the calculation for 2022:

  • Travel between office and home (public transit or car): about 5 tonnes of CO2.
  • Intercity travel (airplane): about 2.33 tonnes.
  • Heating and cooling of FGM offices (natural gas): about 16 tonnes.
  • Emissions for event purposes (transportation, food, etc.): about 2 tonnes.

The Foundation then acquired Gold Standard credits from Planetair Sahel, in order to offset those 2022 estimated emissions totalling a bit more than 25 tonnes of CO2  equivalent. The Planetair Sahel portfolio has two components, the first of which funds GHG emission reduction projects that enable the offset. The other one supports the building of adapted housing, in a region that is one of the hardest hit by climate change. Of course, FGM is mainly active in fighting climate change in Greater Montreal. But it also recognizes the need for greater climate justice globally, since GHG emissions know no boundaries.

A global commitment

Gold Standard carbon credits are a recognized mechanism for offsetting GHG emissions. They support a variety of projects that yield immediate and quantifiable results in the fight against climate change. Those include wind power, solar power or energy efficiency initiatives, for example. Its rules also require that the projects it supports contribute to  at least three Sustainable Development Goals (SDGs). This aligns directly with FGM’s mission.

In closing, a reminder that the Foundation has also adopted a Responsible Investment Strategy that aims to reduce GHG emissions linked to its asset portfolio by 45% between now and 2030, and to attain carbon neutrality by 2050. The Strategy therefore brings the Foundation in line with the Paris Agreement on climate change.

Click here to find out about the other commitments the Foundation has made on an institutional level, as a participant in the Great Expectations campaign led by the Montreal Climate Partnership in 2022.

Photo credit: © Régis Binard for la Voûte nubienne, a project supported by the carbon credits FGM purchased.