QNP and the Canadian Climate Law Initiative are partnering to equip boards of directors to address the acceleration of the transition to a low-carbon economy.
Montreal, June 1, 2022 – QNP and the Canadian Climate Law Initiative (CCLI) are pleased to announce that they are joining forces to offer free educational sessions to the boards of directors of SMEs in Quebec. The presentations allow directors to understand their fiduciary obligations regarding climate change, establish effective climate governance, and better understand their role in helping the management team place their company on a low-carbon transition pathway. Desjardins Capital is partnering with the project and becomes the first institutional investor in Quebec to offer the presentation, specifically designed for SMEs, to the boards of directors of companies in its portfolio.
In Canada, SMEs emit over 200 million tCO2e, or 30% of the country’s greenhouse gas (GHG) emissions. Collectively, SMEs therefore represent a significant emitter in the industrial and commercial sectors. However, the disparity of their activities and sizes creates an intrinsic complexity in mobilizing them, despite the existence of technological solutions and financing programs. What’s more, according to the Institut de la statistique du Québec (2021), among SMEs Committed to sustainable development, there is a significant gap between the implementation of climate initiatives compared to initiatives related to other environmental, social and governance (ESG) aspects. For example, while 78.3% of SMEs with 5-249 employees Committed to sustainable development are implementing initiatives related to “social” aspects, only 31.5% are implementing climate initiatives including improved energy management, climate adaptation and resilience measures, and GHG reduction. More specifically, only 13.3% say they are implementing initiatives to “reduce GHG emissions associated with their activities (mitigation) and combat climate change”, compared with over 33% for companies with 250 or more employees.
The mobilization of board members of SMEs is one of the essential elements to engage SMEs in climate action and reduce the gap between large companies and SMEs. QNP contributes to the project with its expertise regarding the transition of SMEs to a low-carbon economy, while CCLI contributes with its expertise and legal knowledge related to fiduciary duties and effective climate governance. Both organizations are also pleased to have the support of Desjardins Capital to implement this initiative in Quebec.
Desjardins Capital’s commitment is part of Desjardins Group’s action plan to achieve, by 2040, net zero emissions from its operations and supply chain, as well as from its financing and equity investment activities in three carbon-intensive sectors: energy, transportation and real estate.
For more information
Presentations will be given by CCLI’s network of experts in collaboration with Anne-Josée Laquerre, Executive Director and co-initiator of QNP. If you are interested in receiving a free presentation on effective climate governance for SMEs, contact Emmanuelle Létourneau, Expert with the Canadian Climate Law Initiative and President and Founder of Létourneau Gouvernance entreprenante. CCLI also offers presentations tailored to the boards of large corporations.
“One of the main drivers of the transition to a low-carbon economy is the presence of informed leaders who are aware of the urgency to act and are ready to do things differently,” says Anne-Josée Laquerre, Executive Director and co-initiator of QNP. “We are thrilled to collaborate with CCLI and Desjardins Capital on this project. Each new meeting will be an opportunity to discuss the essential role that board members must play in helping SMEs to be ready to operate in a low-carbon economy and seize business opportunities during the transition.”
“Climate change is a complex issue, and for many board members, the responsibilities of directors regarding climate change remain unclear. It is a learning process for everyone, emphasizes Sonia li Trottier, Director, Canadian Climate Law Initiative. Our presentations to large companies are already helping many directors better understand the importance of their fiduciary duties related to climate, and we are pleased to collaborate with QNP and Desjardins Capital to raise awareness among SME boards about this crucial issue.”
“This initiative is an additional means to help our portfolio companies face the risks related to climate change and seize new business opportunities,” says Marie-Hélène Nolet, Chief Operating Officer at Desjardins Capital. “In this regard, we are happy to collaborate with QNP and the Canadian Climate Law Initiative, two well-regarded organizations in their fields, and to offer presentations to an initial cohort of partner companies.”
About Québec Net Positif
QNP is an independent think tank whose purpose is to accelerate the transition to a low-carbon and ‘net positive’ economy. Its mission is to raise awareness, equip, and mobilize businesses – and the actors that support them – to help them seize business opportunities in the low-carbon economy, go beyond risk mitigation, and activate their full potential for creating positive impacts on society and the environment. QNP is supported by the Desjardins Group, the McConnell Foundation, and collaborates with Accélérer 2030 for Quebec, a consortium of organizations and individuals committed to accelerating the achievement of the 17 United Nations Sustainable Development Goals (SDGs) to guide Quebec’s prosperity by 2030.
About the Canadian Climate Law Initiative
The Canadian Climate Law Initiative (CCLI) is Canada’s center for mobilizing knowledge and policy on climate governance. Using our academic rigor and active partnerships, we bring together knowledge, best practices and reliable information to advise Canadian businesses and governments on how to respond to today’s pressing climate risks and opportunities through effective climate governance. CCLI is led by five co-principal investigators, Dr. Janis Sarra, Dr. Carol Liao and Terri-Lynn Williams-Davidson of the Peter A. Allard School of Law, University of British Columbia, and Professor Cynthia Williams and Dr. Barnali Choudhury of Osgoode Hall Law School, York University. For more information, visit www.ccli.ubc.ca
The Initiative recognizes that the UBC Point Grey campus is located on traditional, ancestral and unceded xʷməθkʷəy̓ əm (Musqueam) territory.
About Desjardins Capital
With more than 45 years of expertise, Desjardins Capital’ s mission is to promote, support and retain small and medium-sized businesses in Quebec. With assets under management of $3.0 billion as of December 31, 2021, Desjardins Capital is involved in the long-term survival of more than 670 companies, cooperatives and funds in various sectors of activity, from all regions of Quebec. In addition to helping maintain and create several thousand jobs, this Desjardins Group subsidiary offers entrepreneurs access to a broad business network to support the growth of their companies. For more information, visit our website.