Climate change is one of the defining challenges of our time and can significantly impact people and the environment. We recognize that we have a responsibility to invest in the right assets and conduct our business in a way that considers our climate change impacts.
Although our direct impacts and carbon footprint are relatively small, reflecting the fact that we operate our business in an office environment, we are committed to reducing our climate change impact and working with mining partners on their decarbonization efforts. In 2022, we continued to have zero Scope 1 greenhouse gas (“GHG”) emissions. To enhance our transparency and accountability, we officially expanded our climate change disclosure to include Scope 3 upstream emissions resulting from business travel and the financed emissions from our mining partners.
Partnership with Carbon Streaming Corporation
In 2021, as part of our contributions to the fight against climate change, we entered into a novel partnership with Carbon Streaming Corporation. And in 2022, we made our first contribution by helping to fund the Magdalena Bay Blue Carbon Project in Baja California Sur, Mexico. Once implemented, it will be one of the largest blue carbon projects in the world, and will deliver Osisko approximately 40,000 carbon credits annually. This was a small financial investment with an oversized impact.