{"id":94773,"date":"2025-06-23T15:17:44","date_gmt":"2025-06-23T19:17:44","guid":{"rendered":""},"modified":"2025-06-25T14:50:30","modified_gmt":"2025-06-25T18:50:30","slug":"how-great-bear-carbon-is-bringing-indigenous-governance-and-stewardship-to-the-volunteer-carbon-markets","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-great-bear-carbon-is-bringing-indigenous-governance-and-stewardship-to-the-volunteer-carbon-markets\/","title":{"rendered":"How Great Bear Carbon is Bringing Indigenous Governance and Stewardship to the Voluntary Carbon Market"},"content":{"rendered":"\n
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The Great Bear Rainforest on British Columbia’s North and Central Coast sequesters millions of tonnes of carbon dioxide across 6.4 million hectares of snow-capped mountains, ancient western red cedars, and Sitka spruce. It is considered one of the world\u2019s largest carbon sinks<\/a>\u2014meaning it absorbs more carbon dioxide (CO2) than it releases. \u00a0<\/p>\n\n\n\n

For millennia, coastal First Nations have been stewards of the rainforest, protecting its diverse ecosystems and safeguarding their traditional and unceded territories for future generations to come. That relationship has taken on a new dimension with the formation of the Great Bear Carbon Credit Limited Partnership.<\/p>\n\n\n\n

Under the\u00a0Great Bear Carbon<\/a>\u00a0banner, a collection of coastal First Nations has entered\u00a0the voluntary carbon offset market<\/a>. The organization generates carbon offsets by preserving trees and ecosystems that naturally store CO2, with each carbon offset verifying the removal of one tonne of carbon from the atmosphere. Businesses, governments and individuals can purchase carbon offsets to compensate for their environmental impact. The Great Bear Carbon program helps raise revenue to support the local First Nations and their stewardship efforts.<\/p>\n\n\n\n

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Welcome figure in Nuxalk Territory. Photo credit: Coastal First Nations<\/em><\/p>\n\n\n\n

Dani Warren, Senior Manager of Sales and Operations for Great Bear Carbon, says it\u2019s one of the largest carbon offset project of its kind in Canada.<\/p>\n\n\n\n

\u201cWe\u2019re 100 per cent Indigenous-owned,\u201d she says. \u201cOur board of directors is made up of chiefs from across the region, and we work directly with the communities.\u201d<\/p>\n\n\n\n

The project is an innovative example of how Indigenous leadership can bring nature-based solutions<\/a> to the voluntary carbon market.<\/p>\n\n\n\n

A carbon offset project rooted in tradition and innovative in its approach<\/h2>\n\n\n\n

Great Bear Carbon was set in motion during the late 1990s, as part of an Indigenous-led effort to ensure more sustainable practices in regional conventional land use planning and forest management. After years of dialogue and government-to-government negotiations between the province of British Columbia, Coastal First Nations<\/a> and Nanwakolas Council, a collaborative approach was conceived as part of a Reconciliation Agreement. Grounded in Ecosystem-Based Management (EBM) principles, this new approach was designed to protect and conserve ecosystem integrity, while maintaining and enhancing the social and cultural wellbeing of coastal communities.<\/p>\n\n\n\n

In 2007, the Great Bear Rainforest became the world\u2019s first Project Finance for Permanence<\/a> (PFP)\u2014a new approach for supporting large-scale conservation initiatives that has been adopted to protect globally important ecosystems in the Amazon, Costa Rica, Colombia, and Peru. The project secured $120 million in funding, with contributions from both governments and private funders.<\/p>\n\n\n\n

Development of the Great Bear Carbon projects began in 2006 as a means to generate revenue through reforestation and conservation, instead of extractive processes like logging. The carbon project initiatives were later included in the 2009 Reconciliation Agreement.<\/p>\n\n\n\n

\u201cThe communities had amazing goals and things they wanted to achieve together,\u201d says Warren. \u201cCarbon offsets would provide one source of long-term funding to support those initiatives.\u201d<\/p>\n\n\n\n

Between 2009 and 2011, Great Bear Carbon launched two forest carbon projects: The North and Central-Mid Coast project and the Haida Gwaii project. A third project, the South Central Coast is managed by the Nanwakolas Council, an alliance of First Nations which stewards the southern part of the temperate rainforest.<\/p>\n\n\n\n

\u201cThe original buyers of those offsets were the B.C. provincial government,\u201d explains Zoe Heath, Manager of Sales and Operations at Great Bear Carbon. As part of its carbon neutrality goals<\/a>, the provincial government purchases carbon offsets.<\/p>\n\n\n\n

Today, Heath says B.C.\u2019s government offset purchases account for about 20% of Great Bear Carbon\u2019s business. \u201cThe remaining 80% is coming from a very diverse portfolio of buyers,\u201d she says. \u201cWe sell to individual buyers with the motivation to offset their carbon emissions right up to large institutions like RBC. It\u2019s very diversified.\u201d<\/p>\n\n\n\n

Since the projects started in 2009, they\u2019ve generated over $80 million in revenue for the First Nations partners, including: Gitga\u2019at, Heiltsuk, Kitasoo, Metlakatla, Nuxalk, Wuikinuxv, and Council of the Haida Nation.<\/p>\n\n\n\n

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Great Bear Rainforest on British Columbia’s North and Central Coast. Photo credit: Coastal First Nation<\/em><\/p>\n\n\n\n

An opportunity for economic development<\/h2>\n\n\n\n

The volunteer carbon markets are increasingly being viewed as a tool of economic development for Indigenous and other local communities, which are at the frontline in managing an estimated<\/a> 40% of the planet\u2019s ecologically intact landscapes.<\/p>\n\n\n\n

Brian Hong, director of the Environmental Markets Solutions Group, within RBC Capital Markets, says Great Bear Carbon illustrates how emission reduction can work in tandem with social impact.<\/p>\n\n\n\n

\u201cThe revenues from the Great Bear Carbon project are helping Indigenous communities build schools and community centres,\u201d says Hong. \u201cThis is having a material positive impact, not just on the Great Bear Rainforest, but also on the community.\u201d<\/p>\n\n\n\n

The project draws investors who are concerned about their own environmental impact and interested in supporting Indigenous governance in Canada. To ensure it meets the highest standards of the voluntary compliance market, the project is diligently verified to preserve its high integrity. <\/p>\n\n\n\n

\u201cThe projects are validated at the start, but then there\u2019s a verification every time we want to get a new year of offsets issued,\u201d says Heath. \u201cIt goes through a very rigorous process, including third-party auditors\u2026Overlaying that with the co-benefits makes Great Bear Carbon offsets an appealing option for people who are looking to offset their emissions.\u201d<\/p>\n\n\n\n

Investment in Indigenous stewardship and conservation<\/h2>\n\n\n\n

The Atmospheric Benefit Agreements include a stipulation that 65% of the funds raised through carbon offsets go toward stewardship. \u201cThe remaining amount is up to the First Nations to decide where to spend those revenues for their communities,\u201d says Heath.<\/p>\n\n\n\n

Over the past 15 years, the communities have found diverse uses for the funds generated. One of the flagship achievements of the funding is its support for Coastal Guardians\u2014the frontline stewards who work for their Nations and as a regional collective to monitor and protect their lands and waters. These Guardians play a critical role in all aspects of stewardship for Coastal First Nations\u2014ensuring resources are sustainably managed, that rules and regulations are followed and that land and marine use agreements are implemented effectively. Comprising a mix of permanent and seasonal staff roles, these local Indigenous stewards are partially funded by the carbon offsets.<\/p>\n\n\n\n

\u201cCoastal Guardians are the eyes and ears of their territories, and they uphold and enforce their traditional and contemporary Indigenous laws,\u201d says Warren.<\/p>\n\n\n\n

In 2022, the Nuxalk and Kitasoo Xaixais First Nations partnered with BC Parks to add Park Ranger authorities to their Guardians\u2019 enforcement tools, the first collaboration of its kind in Canada.<\/p>\n\n\n\n

The benefits of Coastal Guardians go beyond the protection of local ecosystems across the Great Bear region. Supporting these roles could also be viewed as a form of reconciliation, since it advances economic opportunities close to home and helps to get local Indigenous people back into their traditional territories, learning traditions and re-connecting with their natural and cultural heritage.\u201d<\/p>\n\n\n\n

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Photo credit: Coastal First Nations<\/em><\/p>\n\n\n\n

Are forest carbon projects at risk of forest fire?<\/h2>\n\n\n\n

Nature-based solutions cannot guarantee permanent carbon sequestration, with\u00a0factors such as<\/a>\u00a0wildfire, insect outbreaks and disease, and annual harvest rates having an impact on the effectiveness of a forest\u2019s ability to store carbon. This is one of the reasons why stewardship and conservation projects like Great Bear Carbon are a critical tool in efforts to protect the longevity and health of Canada\u2019s vital forest land.\u00a0<\/p>\n\n\n\n

Wildfires, in particular, are a destructive threat<\/a> to the wellbeing of forests, and pose a risk to the impact of nature-based carbon offsets like Great Bear Carbon. But Warren says the temperate rainforest\u2019s dampness and proximity to the coast put the risk of fire low: \u201cOn Haida Gwaii, the risk is 4% and the North and Central Coast, it\u2019s a 9.5% risk,\u201d she says. \u201cWe have never had a reversal due to a fire or damage to the forest.\u201d<\/p>\n\n\n\n

In the rare event of a forest fire, the investor would get replacement offsets. Heath says the stewardship programs include proactive strategies for managing wildfire risk, including monitoring and assessment. \u201cThey\u2019re using modern technology, science and Indigenous knowledge to assess the risk of fire and prioritize any mitigation efforts that there might be,\u201d she says.<\/p>\n\n\n\n

A model for Indigenous leadership in the carbon offset market<\/h2>\n\n\n\n

Heath says Great Bear Carbon is a model for carbon offset projects that foster Indigenous ownership and draw from traditional knowledge.<\/p>\n\n\n\n

\u201cThese projects are really a model for ethical nature markets as well and centring Indigenous rights, while also protecting old growth and delivering climate and social outcomes for people and the planet,\u201d she says.<\/p>\n\n\n\n

Warren agrees, saying she hopes Great Bear Carbon will inspire similar projects.<\/p>\n\n\n\n

\u201cWe are very niche in Canada,\u201d she says. It\u2019s something, as an Indigenous person, that she hopes will catalyze similar projects. \u201cCarbon offset projects are a real opportunity to uplift Indigenous communities to boost the economic development of their communities and Canada, but also meet some of Canada\u2019s conservation protection goals.\u201d<\/p>\n\n\n\n

Read more:<\/strong> Carbon credits: How your business can get started<\/a><\/p>\n\n\n\n

To help navigate the rapidly evolving carbon markets, RBC Capital Markets offers extensive expertise and full capabilities in emissions trading across both compliance and voluntary carbon markets. The Environmental Markets Solutions Group collaborates with RBC Capital Markets\u2019 Environmental Commodities desk, established in 2008, to offer bespoke solutions to clients looking to operationalize their net-zero targets through carbon and renewable energy solutions.<\/em><\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Carbon offsets have generated over $80 million for First Nations of the North Pacific.<\/p>\n","protected":false},"author":319,"featured_media":94774,"parent":57338,"menu_order":0,"template":"wp-custom-template-mmm-sticky-nav","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[573],"rbc_content_type":[31],"rbc_audience":[110,231],"rbc_lob_group":[35],"rbc_difficulty_level":[70],"rbc_mmm_category":[305,391,326],"class_list":["post-94773","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-commercial-client-success-stories","rbc_content_type-article","rbc_audience-business-owners","rbc_audience-indigenous","rbc_lob_group-business","rbc_difficulty_level-intermediate","rbc_mmm_category-business","rbc_mmm_category-commercial","rbc_mmm_category-right-sized-business-advice"],"acf":{"contently_publication_id":"","custom_author":"Andrew Seale","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":"Generate Table Of Contents"},"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n