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Cenovus Energy Inc. has made a $3.7 million donation to the Nature Conservancy of Canada (NCC) as part of the company’s updated social investment strategy.
The NCC donation is the first under Cenovus’s revised social investment strategy, launched a week ago before the release of its first-quarter results on Wednesday.
Cenovus is focusing its social investments on four focus areas: Indigenous reconciliation, protected planet, future-ready youth and resilient communities.
The donation to NCC is structured to trigger charitable donation matching programs in Canada and the U.S., including a grant under the U.S. North American Wetlands Conservation Act, increasing the amount available for NCC to $12 million USD.
NCC is Canada’s leading private land conservation organization
The donation will help conserve natural areas across Western Canada, such as grasslands, wetlands, lakes and forests that are critical to a variety of plants and animals, including many at-risk species and migratory birds.
Previous donations from Cenovus have supported some of NCC’s land conservation and educational initiatives.
Since its founding in 1962, NCC has helped protect 15 million hectares of ecological areas across Canada. Slowing further conversion of Canadian grasslands and wetlands into croplands is a strategic priority for NCC.
News of the donation was broadcast the day before Earth Day on April 22.
Tom Lynch-Staunton, regional vice-president, Nature Conservancy of Canada, says the donation will help his organization to conserve wetland ecosystems, including those within prairie grasslands.
“Conserving wetlands, like those found at The Yarrow Creek Ranch of southwestern Alberta, is an essential step in permanently protecting biodiversity, maintaining clean water and buffering the effects of climate change,” he said.
Cenovus employees also play a role in the company’s social investment strategy through its Cenovus Cares giving and volunteering program.
“Contributing to society is about more than just the money we provide,” said Rhona DelFrari, Cenovus chief sustainability officer and senior vice-president, stakeholder engagement.
“It’s about providing our expertise where possible, engaging our staff as volunteers and seeking to have a meaningful impact in the communities where we operate.”