Canbury

Newsletter: October

Welcome to Canbury’s October newsletter. This month, we’re launching our research, “The Degradation of Canada’s Boreal”, and highlighting our recent investor engagement trip to the boreal forest near Thunder Bay, Ontario.

  • Many thanks,
  • The Canbury Team

About the research and investor engagement trip

“The Degradation of Canada’s Boreal” was published alongside PRI In Person, taking place this year in Toronto, and was preceded by a 3-day visit to northern Ontario to meet with companies, foresters and environmentalists, and visit different stages of forest health.

Why focus on Canada’s boreal?

The boreal forest is the largest carbon sink on land, and Canada’s boreal specifically is the largest intact forest in the world. It is home to a vast variety of biodiversity, including more than 3 billion migratory birds, and large mammals like the woodland caribou, grizzly bears and lynx. And yet, the forest is often overlooked, and rarely find itself on investors’ to-do lists.

What are some of the key takeaways from the report?

Canada’s boreal forest faces significant threats from industry-driven degradation, governed by a complex network of international, federal, and provincial policies. The report highlights a critical discrepancy between deforestation rates and actual forest degradation, emphasising the need for comprehensive measurement of both factors.

The report identifies 32 of the most influential companies, their trade association memberships and lobbying activities. These trade associations emerge as powerful players, amplifying the collective influence of companies on policy frameworks relevant to the forest.

At the same time, emerging international regulations such as EUDR, CSRD, and TNFD frameworks underscore the growing importance of boreal forest conservation in investment decisions – and therefore the importance of investor engagement in public policy and in the assessment of their companies’ direct activities and supply chains.

What were the key takeaways from the trip?

Over the course of the 3 days, we were able to do a deeper dive into the why and how of the degradation of the boreal, understanding regional industry dynamics and what it means to conserve the forest.

After meetings with Clean Air Metals Inc., the Nature Conservancy of Canada, the Friends of Wabakimi, and the Natural Resources Defense Council, we came away with the following understandings:

  • Why sustainable sourcing of minerals doesn’t necessarily dictate higher prices.
  • The impacts of linear features like roads on woodland caribou, understanding why it disrupts their habitat.
  • The use of glyphosate in forest management and its consequences on biodiversity.
  • The shortcomings in current policy frameworks and third-party certification for forests, but also the need for better implementation of policy frameworks.
  • How investors can have a role in the management of the boreal forest, through public policy engagement.

 

Find the full summary of the trip in Net Zero Investor here.

Where can I find the report?

You can find the full report here, and the storymaps version here.

If you are interested in participating in a collaborative engagement specific to Canada’s boreal forest, register your interest with Emmy (emmy.shaw@canbury.io).

Questions about the report or investor engagement trip? Contact Emmy (emmy.shaw@canbury.io) or Will (will.martindale@canbury.io).

The Launch

October 7, over 70 people came together for the launch of the report, ahead of the PRI in Person conference, in Toronto, Canada. The event brought together a panel of experts, including Linda-Eling Lee (MSCI Sustainability Institute), Shelley Vinyard (NRDC), Tim Steinweg (PRI), Adam Kanzer (BNP Paribas Asset Management), and Greta Fearman (Cardano).

The discussion underscored the critical importance of Canada’s boreal forest for risk-minded investors, highlighting the need to integrate nature into stewardship strategies.

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