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.
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.
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.
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