There is a long-established practice in the corporate world that when a financial deal is made the companies involved publicize the deal with something called a “tombstone” – so named because its rectangular shape is reminiscent of a tombstone, and because a tombstone plays with the idea of putting the deal to rest.
Today TAF is unveiling the “carbonstone”. Like other stones, this announces the specifics of a recent deal – investment level, investment roles, and so on. But the carbonstone goes one step forward to showcase the carbon reduction value of the deal. Whatever word you want use — neutralized, eliminated, doesn’t matter — we are killing carbon… and earning a market rate of return as we do so.
We decided to create the carbonstone because we consider that these types of transactions can gain more momentum when awareness improves. With the carbonstone we want to show that progress is possible and is something to celebrate.
The carbonstone makes visible something we’ve been saying and demonstrating for almost three decades: we don’t need to trade profit for environmental protection; in fact, we can marry economically sound projects with significant environmental benefit.
The carbonstone we’re releasing today marks a deal for a renewable energy project with BerQ, an Oakville-based company. We’re pleased we were able to lead the syndication of this deal; and particularly pleased this project is expected to directly reduce 110,691 tonnes of carbon.
We look forward to soon showing you our next carbon-killing deal.