SAINTE-CATHERINE-DE-LA-JACQUES-CARTIER,
QC, Oct. 5, 2023 /CNW/ - Intact Financial
Corporation (TSX: IFC) announces its support, alongside the
Quebec government and the federal
government, of the Natural Conservancy of Canada (NCC) initiative to protect nearly 200
hectares of wetland in the greater Quebec
City area.
In recent years, Quebec has
faced a number of severe weather events including floods, ice
storms, heat waves and wildfires. Natural infrastructure plays an
essential role in mitigating the impact of these extreme weather
events on people, businesses and communities.
Protecting wetlands, like the Great Jacques-Cartier Bog,
therefore contributes to climate resilience. Wetlands act as a
significant carbon sink and cool island during heat waves, absorb a
substantial amount of water and help mitigate flooding risks during
heavy precipitation.
"As insurers, we know that resilience also includes adapting to
climate change. If we take a closer look at heavy rain events, we
see they are now 50% more likely than they were in the 2000s. To
adjust to this situation, we must protect natural assets such as
the Great Jacques-Cartier Bog, as they are valuable allies. Our
long-term partnership with the Nature Conservancy of Canada is a key part of Intact's commitment to
build resilient communities," said Frédéric Cotnoir, Executive Vice
President and Chief Legal Officer, Intact Financial
Corporation.
"The acquisition of a large area of the Great Jacques-Cartier
Bog came about through sustained collaboration among several
partners who identified it as a priority conservation site. The
scarcity of this type of peatland in southern Quebec, along with the threats it faces and
its relatively intact habitats are among the reasons for this
identification. This achievement is a milestone for nature
conservation in the region, and given the urgency to act, we hope
it will contribute to more similar projects in the
vicinity," said Claire
Ducharme, vice president, Nature Conservancy of Canada in Quebec
This Nature Conservancy of Canada project is one example of Intact's
focus on climate adaptation and concrete efforts to make
communities more climate resilient. Through a five-year
$8 million partnership with the
Nature Conservancy of Canada,
Intact is helping preserve and restore wetlands, such as peatlands
and bogs across the country – one wetland at a time.
For more information on Intact's commitment to build resilient
communities: Social Impact Report - portfolio.
Rooted in Quebec, Intact has
more than 7,500 employees and a network of over 360 broker offices
that offer unparalleled service in every region of the province.
Intact is the largest provider of insurance in Quebec with approximately $4.3 billion in direct premiums written.
The Great Jacques-Cartier
Bog
With the support of funding partners, NCC acquired nearly 200
hectares within the Great Jacques-Cartier Bog, one of the last
great natural peatlands in the greater Quebec City area. This exceptional habitat,
located 40 kilometres northwest of Quebec
City, is twice the size of the Plains of Abraham and triples
the area that NCC has already helped protect in this region. In
total, nearly 60 per cent of the peatland is now safeguarded. In
addition to its role in reducing flood risks for neighboring
communities, the peatland also contributes to the quality of water
in the area and is home to numerous plants and animals, some of
them in precarious situations. The peatland also serves as a
natural haven for hikers and cyclists on the Vélopiste
Jacques-Cartier/Portneuf.
About Intact Financial
Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider
of property and casualty (P&C) insurance in Canada, a leading provider of global specialty
insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically
and through acquisitions to over $21
billion of total annual premiums.
In Canada, Intact distributes
insurance under the Intact Insurance brand through a wide network
of brokers, including its wholly-owned subsidiary BrokerLink, and
directly to consumers through belairdirect. Intact also provides
affinity insurance solutions through the Johnson Affinity
Groups.
In the US, Intact Insurance Specialty Solutions provides a range
of specialty insurance products and services through independent
agencies, regional and national brokers, and wholesalers and
managing general agencies.
In the U.K., Ireland, and
Europe, Intact provides personal,
commercial and specialty insurance solutions through the RSA
brands.
SOURCE Intact Financial Corporation