Canada has announced it will extend to 2026 its Conservation Exchange Pilot programme, which allows companies to earn government-issued certificates for verified achievements in conservation projects they fund.

The pilot, originally launched in 2021, has been extended as part of Canada’s efforts to find new ways to collaboratively engage all sectors to help support nature, Environment and Climate Change Canada said in a statement Tuesday.

“Nature has endless benefits for all of us—and in return, we all have a role to play in protecting Canada’s biodiversity. We know that businesses are looking for meaningful ways to give back to the environment, and the Government of Canada is finding ways to share the responsibility of funding all the projects required to meet our domestic and international conservation goals,” Environment Minister Steven Guilbeault said.

“This pilot brings partners together to fund and implement effective conservation projects that address the fundamental issue of biodiversity loss. Together, we can make an impact.”

Under the pilot, the government issues certificates to companies that fund conservation projects.

Businesses can use the certificates to “demonstrate their positive environmental impact with stakeholders, including in their annual reporting”, according to a government website, but they can’t be used for offsetting purposes.

Only six projects have been registered under the scheme so far.

Three of those are “recent”, the government statement said, and includes TC Energy funding a project by Trout Unlimited Canada to improve stream and riparian health in several high-priority creek system in southern Alberta.

It also includes Aviva funding a grassland restoration project to improve pollinator habitat and species at risk and one that conducts prescribed burns to restore native habitat for sand dune species, both of which are located in Saskatchewan, operated by The Nature Conservancy, and paid for by Aviva.

Irving Oil, Teck, and Nutrien are other private firms that have secured certificates under the pilot.

“Businesses across Canada are reflecting on ways to improve environmental sustainability practices, and the Conservation Exchange Pilot presents a voluntary opportunity for business to invest in conserving nature,” the government statement said.

“This directly supports Target 19 of the Kunming–Montreal Global Biodiversity Framework, which aims to increase the level of financial resources from all sources, to support biodiversity conservation. By working together, with a whole of society approach, Canada continues to make progress toward domestic and international conservation goals and targets.”

It remains unclear whether or how the Conservation Exchange project will be rolled out more broadly once the pilot phase is over.

“The pilot aims to establish a simple, effective, and voluntary way for businesses to invest in nature conservation and receive government-backed recognition for these investments. Over the course of the five-year pilot, ECCC is applying the approach to assess the benefits of up to eight conservation projects across the country,” the programme website says.

“The Conservation Exchange Pilot is encouraging businesses to invest in biodiversity conservation. The pilot is not an offsetting initiative.”

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