Our Commitment to Reaching the Sustainable Development Goals at RE Royalties
Updated: Sep 5, 2019
No poverty. Gender equality. Affordable and clean energy. Sustainable cities and communities. Climate action. Partnerships for the goals.
These are the United Nations Sustainable Development Goals (SDG’s), also known as the Global Goals, which form RE Royalties’ blueprint towards a better and more sustainable future.
As a forward-looking company, the SDG’s lay out a comprehensive plan for tackling global challenges and, in so doing, identify the biggest business opportunities ahead for our client’s and shareholders.
We believe that RE Royalties, as the first company to apply the royalty-financing model to renewable energy projects, has a key role to play across these goals on an international scale.
While much work remains to be done, RE Royalties is making progress in responding to these key environmental challenges. That is a result of the sustainability journey we embarked on when the company was founded, which commits us to continually improve our environmental, social and economic performance.
The SDG’s set out an agenda through 2020 that is ambitious and we want to do our part while encouraging other’s to do the same.
Specific, global and universally applicable targets accompany each of the SDGs outlined above in the chart.
RE Royalties’ has identified our priority SDGs and we have considered our strategy. We are setting clear targets and key performance indicators (KPIs) to monitor and communicate progress.
RE Royalties' continued focus on investment in renewable energy contributes to our sustainable goals.
The most exciting opportunities for us are at the intersection of social and environmental needs – bringing renewable energy to those experiencing energy poverty through our client’s projects, improving outcomes for those struggling with addiction through the charities we support – because they improve lives while reducing impact on our environment.
Our business model, strategies and growth plans are driven by a clear vision of the role we aspire to play in creating renewable energy for a better world over the coming years.
We recognized the value of renewable energy back in 2016 when we financed our first wind power project in British Columbia. Since then, our investments have primarily focused on wind and solar across Canada, the USA and Europe, and we continue to evaluate other renewable energy projects globally.
We only engage with projects that fit our values and that address some of the world’s biggest environmental challenges in an intentional way.
We believe that the private sector can take the initiative in fighting climate change and we want to lead by example.
Over the next couple of months, we are sharing how we are committed to reaching the SDG’s and we want to encourage others to do the same.
Goal 1: End poverty in all its forms
Target: 1.1 By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day.
Poverty is more than the lack of income and resources to ensure a sustainable livelihood. Its manifestations include hunger and malnutrition, limited access to education and other basic services, social discrimination and exclusion as well as the lack of participation in decision-making.
RE Royalties is dedicating ourselves to a human-centric, rights-based approach to help bring improvements to the quality of life for others. Specifically, we are working with the Union Gospel Mission in the downtown eastside of Vancouver, who are helping those in Canada’s poorest postal code. In an upcoming blog post, we will share exactly how we are making an impact with this charity.
Goal 5: Achieve gender equality and empower all women and girls
Target: 5.5 Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision making in political, economic and public life.
Gender equality is not only a fundamental human right, but also a necessary foundation for a peaceful, prosperous and sustainable world. Providing women and girls with equal access to education, health care, decent work, and representation in political and economic decision-making processes will fuel sustainable economies and benefit societies and humanity at large.
We will not achieve any of our goals if women are not equal partners and this is why RE Royalties supports women in the field of renewable energy and sustainability. Specifically, we are involved with Women in Renewable Energy and Women in Sustainable Energy to help promote women into leadership positions.
Goal 7: Ensure access to affordable, reliable, sustainable and modern energy
Target: 7.2 By 2030, increase substantially the share of renewable energy in the global energy mix.
Energy is central to nearly every major challenge and opportunity the world faces today. Be it for jobs, security, climate change, food production or increasing incomes, access to energy for all is essential. Working towards this goal is especially important as it interlinks with other Sustainable Development Goals.
Focusing on universal access to energy, increased energy efficiency and the increased use of renewable energy through new economic and job opportunities is crucial to creating more sustainable and inclusive communities and resilience to environmental issues like climate change.
RE Royalties is providing financing to renewable energy projects to help them get off the ground faster. Since our first royalty deal in British Columbia, we have seen our client’s build multiple projects, multiplying our combined impact.
For instance, our royalty acquisition in Ontario has allowed our client to utilize that capital to invest in personal portable solar units in Kenya. This has brought clean, affordable electricity to 100,000 families+ in Kenya, while reducing the negative health impacts and high costs of kerosene lamps and diesel generators to those families.
Goal 11: Make cities inclusive, safe, resilient and sustainable
Target: 11.6 By 2030, reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management.
With the number of people living within cities projected to rise to 5 billion people by 2030, it’s important that efficient urban planning and management practices are in place to deal with the challenges brought by urbanization.
Rapid urbanization challenges, such as the safe removal and management of solid waste within cities, can be overcome in ways that allow them to continue to thrive and grow, while improving resource use and reducing pollution and poverty. One such example is an increase in solar power projects in urban environments.
RE Royalties’ recently provided financing to a company in Ontario to help the solar project move forward. Without the funding that RE Royalties provides, projects like this would not be possible. Our shareholders, who want to make a positive impact on the environment, help to fund our projects.
As an example of the impact, the Ontario Solar Project Portfolio generates approximately 17.5 million kilowatt hours of clean energy per year; capable of removing 874 tonnes of carbon from the electricity grid or providing clean electricity to 1,943 homes in Ontario annually.
Goal 13: Take urgent action to combat climate change and its impacts
Target: 13.3 Improve education, awareness-raising, human, and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.
Climate change is now affecting every country on every continent. It is disrupting national economies and affecting lives, costing people, communities and countries dearly today and even more tomorrow.
Affordable, scalable solutions are now available to enable countries to leapfrog to cleaner, more resilient economies. The pace of change is quickening as more people are turning to renewable energy and a range of other measures that will reduce emissions and increase adaptation efforts.
With the news this month that Canada is warming twice as fast as the global average, never has the need for tackling climate change been more urgent.
We have an ambitious goal to help accelerate climate action and low-carbon growth and it all starts with educating and driving awareness. There are so many renewable energy projects waiting to get off the ground and we want others to follow our lead.
We are putting a value on reducing carbon with each new project we undertake. We are mindful of creating carbon positive solutions that will have a global impact. Our team has been speaking at events to help educate the public about what RE Royalties’ is doing to bring new projects to fruition.
Goal 17: Revitalize the global partnership for sustainable development
Target: 17.3 Mobilize additional financial resources for developing countries from multiple sources.
Target: 17.16 Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology and financial resources, to support the achievement of the sustainable development goals in all countries, in particular developing countries.
Target: 17.17 Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships.
A successful sustainable development agenda requires partnerships between governments, the private sector and civil society. Long-term investments, including foreign direct investment, are needed. These include sustainable energy, infrastructure and transport, as well as information and communications technologies.
RE Royalties is working to form key alliances that tap into our innovation. We are developing new models that help us achieve our sustainable goals faster.
Overall, as a set of goals go, they are comprehensive. If you are interested, you can look at all of the SDGs in detail here.
We consider our current level of commitment to the SDG’s as a solid starting point and we will continue to build on each of the goals we have committed ourselves to achieve.
In the months ahead, we will continue to share our progress and seek input from our client’s and shareholder’s in support of our sustainable business foundation.