RRSP Season is here, are you saving wisely? In this article by MoneySense, we learned that a “whopping 60% of the typical [Canadian] portfolio is being held in cash–far too much to meet most retirement needs when you factor in record-low interest rates and inflation.”
This trend seems to be mirrored in ZooShare members as well: When asked, “Not including ZooShare, where do you invest?” 56% of ZooShare investors said “In my savings account”.
In the MoneySense article, when people were asked “why [they] were sitting on so much cash, the majority cited accessibility and/or convenience”.
Well, we’ve made it easy for you: Here’s a list of 3 resources to learn how you can align your investment portfolio with your values and perhaps earn more by becoming an impact investor.
Disclaimer: we are not legally allowed to offer financial advice, so please do your own research and speak to a professional. These suggestions are just starting points!
Since 60% of ZooShare members also invest in Mutual Funds, we thought it would be useful to share these recent developments:
NEI has recently announced plans to launch a new fund called the NEI Environmental Leaders Fund. The fossil-free fund will invest in companies providing solutions to environmental problems (focusing on energy efficiency, alternative energy, waste management, water, and sustainable agriculture).
OceanRock’s Meritas SRI Funds are the only mutual funds in Canada with an impact investing component. A portion of all portfolios is allocated to “Community Development Investments”. Read more here.
In addition to the funds listed above (and in the Guide), here are EVEN MORE responsible funds you can talk to your financial advisor about (if you have one) or research yourself. PS: If you don’t have a financial advisor and you’re looking for someone who knows about responsible investing, the RIA has an online directory of advisors.
3) Buy a Community Bond!
And of course, ZooShare is now offering a new series of bonds that are construction risk-free and earn 5% each year for 5 years. Help generate renewable power, reduce greenhouse gas emissions, and return nutrients to the soil. You can learn more about our newest bond offering by clicking here. There are also other options to diversify your community bond portfolio, like:
The highlights from last month include project design, preparation and submission of building permit applications; completion of the Sales and Marketing Plan; planning for groundbreaking (!); and more bond sales. We also made good progress in our pursuit of additional feedstock suppliers, and have a plan in place to ensure we have all of the organics contracted within the coming months. This is an extremely exciting and critical time for our project, with much work to get done to be operational by year end. In addition, while the construction is taking place, we will continue to explore every possible avenue to maximize project revenues (primarily on the fertilizer side) and minimize future operating costs.
As of Feb/1st, we had sold $304,000 of the 5% bonds, which are currently sitting in an escrow account awaiting the completion of construction. We continued to solidify our sales and marketing plans for the year, which includes leveraging our major milestones and any media we receive into more bond sales.
If you would like to invest in the latest bond offering, please fill out the form here (if you you a ZooShare member, make sure to check the “Yes, I’ve paid my ZooShare membership fee” box).
Meetings took place this month with multiple waste management companies, two major grocery retailers, and an industry association that is looking to facilitate meetings for us with their members. It’s an evolving discussion, but our focus continues to be first on retail-facing food companies who see the PR value of a long term relationship (20 years), followed by waste management companies that more easily serve our needs but on a more short term basis (1-5 years). As we get closer to construction and operations, more waste companies will call us, as our locational advantage translates to direct savings on transportation costs for them. In fact, this has already begun to happen – I got two calls this week with attractive offers. While the process has been slow to date, we are confident we will have our feedstock needs contracted in the coming months, as construction gets underway. As we have said for some time, the challenge is not securing waste, it is accurately predicting it’s make-up, level of contamination and price over the next 5, 10, 20 years.
Design and Construction
Our engineering team at Bioferm has been hard at work at finalizing project designs, site plans and the budget this past month, so that we can submit building permit applications to the TRCA and City of Toronto this week. We will also be ready to execute the Turnkey Design-Build contract, and will be submitting the first round of designs to the Zoo for their approval and comments. Based on the currently projected timelines, we will begin ground preparation and excavation in late March/early April. We are planning a groundbreaking celebration, which will take place around this time – stay tuned for further details.
The highlights of the holiday season included the launch of the new ZooShare bonds and starting the planning process for our biggest year yet!
6% and 5% bonds were offered first to the Waiting List, and then to the general public. The pent-up demand led to the 6% bonds selling out in 7 days, and over $250,000 in 5% bond sales in the first month of availability. After selecting a technology partner in late October, we have started planning for construction of the biogas plant this Spring(!), while also working on plans for marketing & sales, digestate management and transportation. We also continued our discussions with numerous waste producers and haulers regarding our feedstock needs as we look to resolve the remaining issues and sign a long-term contract.
Bond Sales & Revised Offering Statement
In November, ZooShare received approval from FSCO to begin selling Community Bonds again. We had a limited number of 6% bonds available, and as stated above, they sold out quickly. The 5% bonds, which are fully protected against construction risk, went on sale in early December. To date, we have sold $252,100 5% bonds, which are currently sitting in an escrow account awaiting the completion of construction. We feel confident that our biggest driver of bond sales this year will be our progress building the project. That being said, we spent a fair amount of time during December planning our marketing and sales activities for the year to best ensure our success with this new offering. This effort is being led by our Communications Manager, Frances Darwin, who was brought back full-time and extended for another year.
If you would like to invest in the latest bond offering, please fill out the form here (if you you a ZooShare member, make sure to check the “Yes, I’ve paid my ZooShare membership fee” box).
Discussions continue with our grocery partner to resolve the remaining issues standing in the way of us signing a long term agreement, namely, how to remove the packaging from the available organics. We are also engaged with other waste producers and haulers, in order to secure alternatives should our grocery partner be unable to supply the full amount of waste required. As stated previously, this is not how we imagined this process unfolding, however our confidence that we will be able to get what we need in fuel remains strong. This is due to our locational advantage, made more valuable by impending limits on carbon emissions from transportation, the Province’s recent announcement of new waste management regulations that would ban organics from landfills, and the potential PR value of working with a local non-profit associated with the Zoo. We will continue working on all fronts and look forward to resolving this challenge in the coming months, prior to starting construction.
Design and Construction
Since selecting Bioferm Viessman as our technology supplier in late October, the two organizations have been engaged in planning, procurement and negotiations. A transportation plan covering the construction and operations phases has been prepared and submitted to the Zoo (special thanks to ZooShare member, ND, for the help). A preliminary design and construction schedule was prepared by Bioferm, with a planned construction start date in May and a Commercial Operation Date of January 1, 2017. Working backwards from these days, the 30% project design and budget is to be finalized by the end of this month, allowing us to sign a binding turnkey construction contract, finalize the loan amount to be received from Bioferm and submit the designs to the Zoo for approval. We will also be applying for building permits from the City of Toronto and Toronto and Region Conservation Authority (TRCA) at this time. Staff from both organizations have already been contacted to ensure a smooth approval process.
The NEW ZooShare bonds are here with holiday cheer!
When we sold out of bonds in March, demand kept growing, so ZooShare developed a plan to offer new bonds that will earn 5% each year for 5 years.
These bonds have no construction risk: They will be held in an escrow account until after the biogas plant is built and will be used to repay the construction loan provided by our technology supplier.
Originally we had intended to borrow these funds from a commercial lender, however, due to overwhelming demand for ZooShare bonds and our preference to borrow from our supporters, we have decided to issue another $2.2M worth of bonds.
I would like to share a letter with you from one of our friends, Carol Lue of CaribShare Biogas. Carol is a fellow-entrepreneur and biogas developer, located in Jamaica. Drawing inspiration from ZooShare’s business model, CaribShare will use biogas technology to produce renewable power, reduce poverty and take action on climate change. They have enough funds to cover 85% of the construction costs for their pilot project, but they need your help to raise the last $20,000. If you are inspired by Carol’s work, we urge you to support CaribShare’s crowdfunding campaign. Please read Carol’s letter below to learn more.
Unexpected wins are one of the joys of being an entrepreneur.
I am the Founder and Executive Director of CaribShare Biogas, a social enterprise and registered charity in Jamaica. A few weeks ago, I was honoured to speak at a Virgin Unite event in NYC to celebrate the launch of the Global Goals for Sustainable Development (there are 17, covering poverty, inequality and climate change). As CaribShare touches on several of these goals, this was indeed an unexpected win and an amazing highlight to share our story there. I was especially honoured to also share the platform with Sir Richard Branson himself who has inspired me and so many other entrepreneurs to use business as a force for social good. Our mission is to produce clean energy in a way that reduces poverty and allows us to take action on climate change.
In partnership with Ch4 Biogas in Ottawa, we are developing and operating the first biogas plant in Jamaica to generate electricity on a sustained basis. And, drawing inspiration from ZooShare’s business model and developing a partnership with ReGenerate Biogas, we are working with the hotel and small farming communities to deliver biogas solutions to the entire Caribbean region in a socially impactful way.
What We Do
We collect tremendous quantities of food waste from hotels and animal poo/manure from small livestock farms to produce biogas (type of biofuel) and organic fertilizer for sale.
The biogas is sold to businesses that are high energy users so they can self-generate electricity at a significantly lower cost than purchasing from the grid. And, the fertilizer is sold to farmers at a highly discounted rate to help lower their production cost and promote organic farming.
We then share up to 50% of our surplus revenues with our participating farmers as meaningful income to help support their livelihood and the vitality of their communities.
Our Current Project
Construction of our pilot 100 kW biogas plant in Montego Bay will be completed next month. It will process organic waste from the Sandals, RIU, Iberostar, and Half Moon Resorts as well as from 50+ small pig farms in the surrounding areas. The biogas will be used to generate electricity to help power a highly energy intensive sewage treatment facility.
My Path to Launching CaribShare
Bringing CaribShare along over the past 3 years to launching next month has been both extremely rewarding and challenging. Continuous ups and downs and incredible struggles have been faced: raising capital with limited collateral, negotiating the bureaucracy of getting our environmental permit approved, and negotiating both the seen and unseen political and competitive dynamics that come with developing a pioneering venture that is both a waste and energy company are just a few examples.
But despite these challenges, what has kept me going, beyond my confidence in CaribShare’s business model and my own personal resilience, is the clear vision that I have for CaribShare to grow and deliver clean energy in a socially impactful way across the Caribbean.
Growing up in rural Jamaica, I felt so blessed to be close to nature and to have that connection. But, I was also affected by the poverty that was around and the struggles that good hardworking people were facing. I also felt that it didn’t have to be so, and I was determined to help from then.
Fast forward many years later to 2012 after having left Jamaica to study and having worked in business and sustainability for about 15 years in Boston and Toronto, that opportunity arose. Having just been laid off and looking to begin the next chapter in my life, I entered the proposal for CaribShare into the IDEAS Energy Innovation Contest that was being sponsored by the Inter-American Development Bank. And, out of 3000 proposals, CaribShare was one of the lucky 8 winners. And, as a result, I gladly moved back to Jamaica.
From the competition, I was awarded a $200K grant which I have been leveraging to raise $600K to launch CaribShare’s pilot thanks to funding assistance from Caricom Energy Program, GIZ (German Corporation for International Cooperation), and the Development Bank of Jamaica.
The Way Forward
Amazingly, our biogas plant will also be the first in Jamaica to generate electricity on a sustained basis, which is a significant contribution to solving the energy woes of Jamaica and the Caribbean. Plus, we will be diverting immense quantities of organic waste from landfills for clean energy generation and rural development. And, I can clearly see developing up to 6 of these centralized 100kW generating biodigesters in Jamaica before expanding to other Caribbean countries that also have a lot of hotel and farm waste.
But, this excitement to expand comes with sobriety in knowing that I am going against the odds in developing CaribShare from the ground up. Luckily, my supporters have remained committed despite my struggles and lengthy delays in launching the pilot because they too support the vision and see my persistence. And, through divine intervention, somehow I have been brought in touch with persons in crucial moments willing either to offer some meaningful intervention or to be truly collaborative. So, despite the never ending exhaustion that I feel as an entrepreneur, I have a tremendous amount of gratitude, optimism, and certainty in knowing that with the right connections, partnerships, and collaborations CaribShare will be unstoppable in improving people’s lives. And, yes together we can all make the Global Goals come true.
If you are an animal-lover, environmentalist and/or conservationist, then you have probably heard the full gamut of zoo criticism. Yes, animals belong in the wild…But what happens when “the wild” disappears?
First, let’s step back a bit and start with a brief history of zoos…They have come a long way from the menageries of the Victorian era, which were designed first for the scientific study of animals, then quickly took off as a form of mass public entertainment:
It wasn’t until the late 1970s that the idea of creating a space for the needs of animals was developed into a reality. Up until that point, the Modernist movement had influenced the design of zoos, meaning that they were designed to be functional. On her website, desigingzoos.com, Zoological Planner Stacey Ludlum writes: “This belief, along with the advances in medicine and desire for sterilization, created zoo exhibits that were easily hosed down and cleaned regularly. This meant concrete everywhere.” 1
It took Architect-turned-Zoo Director David Hancocks to revolutionize animal enclosures. By redesigning the gorilla cages into habitat-inspired enclosures, he not only changed the philosophy of the Woodland Park Zoo in Seattle, but inadvertently designed a new model for modern zoos everywhere…But, as he explains, change did not come easily: “If a traditional Zoo Director had seen or heard what we were doing he would have stopped it” he says, “I had Zoo Directors tell me it was stupid, irresponsible and unnecessary…If the gorillas climbed they would fall and break their necks…We were putting their health at risk.” Despite the criticism, the team at the Woodland Park Zoo pushed ahead, and soon “landscape immersion” was born. This coincided nicely with the building animal rights movement. (You can hear the rest of David Hancocks’ interview here.)
Just as larger societal movements influenced zoo design of the past, so too do they influence zoo design of the present and future. Currently, with our focus on “the brain” (MRI technology etc) we are now designing zoos that reflect that focus.
Currently, Zoos are trying to create opportunities for animals to use their brains as they would in the wild–even if those opportunities don’t look like “the wild”. A good example of this is the Philadelphia Zoo’s new trail system, Zoo360, which allows animals to explore the Zoo above visitor’s heads. This campus-wide network of see-through mesh trails links similar animal habitats, so animals can use one another’s spaces in a time-sharing system. 2
Andy Baker, the Chief Operating Officer at the Philadelphia Zoo, says “this really came out of our goal of creating best experiences for animals, and I truly think this reinvents the way animals experience our zoo…We’re not truly trying to recreate the wild. We’re trying to create environmental opportunities, so the opportunities for new sensory input, exploration, freedom of locomotion…The same functional needs and opportunities that animals have in the wild, without having to recreate the natural habitat.”3
But moving further into the future, we may see a model that is truly inspired by nature, and doesn’t just mimic the landscape or the activities that animals do in the wild.
“Zootopia” is a concept that flips the modern zoo on its head. The Givskud Zoo and Safari Park in Denmark is working with an architectural firm to create a zoo in which the animals roam free and the humans are in cages–or at least, in more confined spaces (safe from the animals). Architect Bjarke Ingels says “What we’ve tried to do is eliminate all traces of human architecture.” NPR reports that buildings are to be “masked as rolling hills and hidden barriers in waterways [that] replace visible fences and barricades”.4The model is inspired by the rapid collision of nature and cities, or as Ingels gently puts it “the distinction between the city and nature … is blurring more and more…It becomes more relevant to make sure that the other life forms can actually cohabit successfully with us.”
Cohabitation is a very important point. Because, up until recently, humans and wild animals have been able to maintain separate lives…But as cities and the human population grow, animals are having a harder time to find space to live. In fact, many don’t.
Currently, we are polluting rivers, clear cutting forests and acidifying the ocean faster than our environment–and most animals–can keep up. The latest edition of the WWF’s Living Planet Report is devastating: Since 1970, 52% of all wildlife on Earth has been wiped out.
Let me repeat that: In the past 40 years, half of the Earth’s wildlife has gone extinct.
Credit: Courtest of WWF International
When The Guardian interviewed the Zoological Society of London’s Director about this report, he said, “If half the animals died in London zoo next week it would be front page news…But [this extinction] is happening in the great outdoors.”
The implication here is that the vast scale of what we have done to the planet is too hard for most people to fathom–perhaps they don’t even know…But in a smaller, controlled environment, such as the local Zoo, people care. Julia Phillips, a Toronto Zoo employee explains, “When people see a live animal, they have a desire and a passion to protect that animal.” Zoos inspire us to do more to help the animals we see.
What many people may not know however, as Phillips explains, is that “Zoos play a really important role in terms of protecting species and acting as assurance populations for species [whose] habitat is no longer there for them in the wild…We can eventually bring them back to life, it’s sort of a Noah’s Ark in a way.” In her TED Talk, the Toronto Zoo’s Gabriela Mastromonaco also uses “the arc” analogy for today’s modern zoos, making the case that Zoos are ensuring the survival of endangered species that can be released into the wild after their habitat stabilizes.
In a video released this summer, The Toronto Zoo shows that they have a storage facility of genetic material (e.g. animal sperm, eggs, embryos etc) in tanks of liquid nitrogen, in which “there are herds of bison, prides of lion, and all sorts of wildlife that we don’t have enough space for in the Zoo itself, however these specimens fit perfectly well in the frozen Zoo, and are waiting to help repopulate species as needed. We are dedicated to conducting groundbreaking scientific research that will ultimately save many species that would otherwise disappear from our planet forever.”
Going forward, the public-facing exhibits of Zoos and the way we interact with the animals may change, but the role of zoos in the conservation of animals and valuable ecosystems must continue, and indeed, accelerate. Hopefully, we can all play a role in the protection and conservation of what is left of “the wild”.
PS You can read more about the Toronto Zoo’s conservation efforts in their Strategic Plan.
This past month, we achieved another two major milestones: 1) We selected a technology partner and, 2) We received Notice to Proceed from the IESO. We also continued discussions with FSCO regarding additional bonds, which should be available in the coming weeks, and spoke with numerous waste management companies regarding our feedstock needs.
Bond Sales & Revised Offering Statement
Since we began taking names and pledges for a waiting list, we have 162 individuals and total pledges of between $765,000 and $1,012,000. We are planning to sell more bonds in the coming weeks, once we receive approval from the co-op regulator (FSCO), so please stay tuned for more info shortly. If you would like to get on our official waiting list, please fill out the form here (make sure to check the “Yes, I am already registered as a ZooShare member” box).
Notice to Proceed
The Independent Electricity System Operator issued Notice to Proceed to ZooShare on October 27th. As far as our FIT contract goes, the last remaining step is to complete construction and reach our Commercial Operation Date (when power will begin to be exported to the grid).
Biogas equipment and financing
After spending about a month reviewing technology proposals, asking questions to understand the gaps and differing design philosophies, on October 26th, ZooShare’s Board approved the recommendation made by its Executive Director to select BIOFerm Viessman as our technology partner. BIOFerm Energy Systems is a Wisconsin-based renewable energy company providing North American operations with sustainable waste management technology through anaerobic digestion. BIOFerm is a member of the Viessman Group, a $2.8 billion family owned business since 1917. Viessman has installed over 400 anaerobic digestion facilities through the biogas companies of the Viessman Group.
In addition to a very strong proposal, BIOFerm also offered ZooShare construction financing at an attractive rate, which we were happy to accept. This financing, together with our Community Bonds previously issued, will cover the costs of construction.
We are extremely excited to be working with BIOFerm Viessman on this project and to begin construction in Spring 2016.
While our discussions continued with multiple waste management companies, we have nothing new to report from the last month on this front. We will continue to negotiate and work towards an agreement with our grocery partner, which should only be helped by the additional milestones recently achieved.
The longest federal election campaign in recent history is coming to an end. We are now less than 2 weeks away from ushering in a new government, and advance polls begin this week. Unfortunately, the topic of the environment hasn’t received sufficient attention, so we haven’t heard a lot about strategies to reduce greenhouse gas emissions or develop more renewable energy–including innovative and impactful solutions such as biogas. The Globe Debates didn’t shed any light on the political future of the renewables industry: “As the fastest-growing sector in Canada, it can’t be ignored, yet we didn’t hear details about a renewable path,” said representatives from the David Suzuki Foundation. One reason for this may be that the production of electricity is a provincial issue, not a federal one–but that being said–the environment (read: climate change and climate change solutions) is a growing concern among Canadians, and the topic seems to have been underestimated–at least initially–by party leaders and their teams.
When the election campaign first took off in August, Huffington Post Canada readers expressed that “the environment was at the top of their list” of campaign issues, and in early September, a survey of CBC’s Vote Compass users confirmed that the topic of the environment ranked second only to the economy, above health, accountability and even taxes! Despite the public’s interest in hearing about the environment, the economy has dominated discussions, and, as pointed out by the CBC, “the environment and climate change were reduced to fine print”. An article in Macleans echoed the sentiment, stating that “as party leaders make speech after speech promising millions for this and millions for that, even the global threat of climate change warrants barely a mention…The silence is deafening from all three major parties.” Indeed, continuing into October, The National Post wrote “If voters were hoping this election campaign would provide a stirring debate on the issue of climate change, with clear options from all the parties on how to reduce Canada’s greenhouse gas emissions in the most cost-effective way, they will no doubt be disappointed. The parties have instead indulged in the usual finger-pointing and vows to do better, while failing to produce convincing plans to meet our international commitments.”
With the United Nations Climate Change Conference in Paris around the corner in November, it’s a surprise there hasn’t been a more concerted effort on behalf of the parties to communicate a strong message on what they think Canada’s position on climate change should be–especially since their current plans on reducing greenhouse gas (GHG) emissions are essentially the same. As pointed out by The National Post, “There is in fact little difference between the policies on offer from the three main parties: all would largely leave the task of emissions reduction to the provinces.” That being said, The NDP is the only party to pitch an actual action plan on climate change ahead of the election. Will we hear more about a path for renewable energy alternatives as the election comes to a close? Your guess is as good as mine. For now, here’s what the parties have promised regarding the environment:
The Conservatives would:
• Lower GHG emissions by 30 per cent below 2005 levels by 2030.
• Move to a low-carbon economy by 2050 and eliminate use of fossil fuels by the end of the century.
• Buy international credits to get to its greenhouse gas emissions goal.
• Reduce methane leaks from the oil and gas sector, capping emissions from the fertilizer and chemical producers and from natural-gas fired electricity.
• Approve the Enbridge Northern Gateway oilsands pipeline.
• Support both the proposed TransCanada Energy East project, and TransCanada Keystone XL oilsands pipeline.
• Protect Canada’s environment by promoting hunting, angling, and snowmobiling tourism.
• Pay $200 million over two years for Environmental projects such as cleaning up federal contaminated sites and protecting species at risk.
The Liberals would:
• Partner with provinces and territories to establish national emissions-reduction targets and provide funding to create the provincial strategies, including carbon-pricing systems.
• Invest $200 million a year to develop clean technologies in forestry, fisheries, mining, energy and farming.
• Put another $100 million into organizations that promote clean technology firms.
• Continue to oppose the proposed Northern Gateway pipeline; but support Energy East and Keystone XL pipelines.
• Phase out subsidies for the fossil fuel industry.
• Put a moratorium on tanker traffic along the northern coast of British Columbia.
• Reinstate $40 million cut from the ocean science and monitoring program at the Department of Fisheries and Oceans.
• Increase protected marine and coastal areas to five per cent from 1.3 per cent by 2017, and to 10 per cent by 2020.
• Along with the U.S. and Mexico, develop a North American clean energy and environmental agreement.
The NDP would:
• Lower GHG emissions to 34 per cent below 1990 levels by 2025-2030.
• Create a cap-and-trade system with a market price on carbon emissions; revenue from cap-and-trade would be invested in a greener energy sector in regions where dollars are generated.
• Redirect $1 billion a year from fossil fuel subsidies to investment in the clean energy sector.
• Introduce the Climate Change Accountability Act to ensure that Canada meets its long-term target of reducing greenhouse gas emissions 80 per cent below that of 1990 levels by the year 2050.
• Invest in Sustainable Development Technology Canada – including wind, hydro, solar and geothermal technologies.
• Work with provinces to create a new fund to help Canadians retrofit their homes and offices to save energy and money.
• Would oppose the Keystone XL pipeline and the Northern Gateway pipeline (it initially supported concept of west-east pipeline, but says Energy East can’t be approved without more stringent environmental review process).
• Is promising that Canada will become “the global leader in the fight against climate change”.
The Greens would:
• Reduce emissions 40 per cent below 2005 levels by 2025 and 80 per cent below 1990 levels by 2050, becoming carbon-neutral by 2100.
• Eliminate all fossil-fuel subsidies to industry.
• Bring in a $30/tonne price on carbon.
• Oppose “any and all” pipeline plans.
• Introduce carbon pricing through a fee-and-dividend system to reduce fossil fuel use and encourage private sector investment in green tech, clean energy and green jobs.
• Refine capacity to process the oil Canada already produces.
• Accelerate construction of green infrastructure, ensuring a majority of Canada’s energy needs come from renewable sources by 2025.
• Work with the provinces to ensure no new coal-fired electrical generation plants are built in Canada.
• Legislate a ban on super tankers on British Columbia’s coast and impose a moratorium on drilling for oil and gas in the Gulf of St. Lawrence.
• Produce stronger environmental assessment laws to help defend coastal communities from risky pipeline and tanker schemes.
• Repeal the Conservative omnibus security legislation.
The Bloc Quebecois would:
• Reduce dependency on oil.
• Make banks and oil companies pay more tax.
• Invest $40 billion in green technologies.
• Tighten security measures surrounding the rail transport of hazardous materials.
• Promote transportation electrification.
• Increase funding for greener residential, commercial and industrial buildings and introducing tax incentives for installing or converting clean heating systems via geothermal energy and hydroelectricity.
This past month, after receiving our REA, we began to move forward on 3 important items that were all waiting for this milestone to be reached: 1. A revised Offering Statement; 2. Applying for Notice to Proceed; and 3. Selecting a technology supplier. We are also continuing discussions with waste management companies to finalize an agreement on process and delivery of organic waste.
Bond Sales & Revised Offering Statement
Since we began taking names and pledges for a waiting list, we have 122 individuals and total pledges of between $592,000 and $830,000. Given the strong demand for our bonds, ZooShare and its Board have decided to raise more funds from our community of supporters and less from commercial lenders. We revised and submitted the Offering Statement to FSCO on Sept 30 for approval. We are planning to sell more bonds in the coming weeks, so if you would like to get on our official waiting list, please fill out the form here (make sure to check the “Yes, I am already registered as a ZooShare member” box).
Notice to Proceed
As you would have read last month, the final REA was received on August 28, and we are currently preparing the forms to to apply for Notice to Proceed (the next phase of the FIT contracting process).
Biogas equipment and financing
We have received proposals from 5 different biogas companies and 4 different generator companies, which are now being reviewed with a target of making a selection by mid-to-late October. We are focused on getting started with detailed engineering shortly, so that we can submit the designs to the Zoo & TRCA for approval, and have enough time to begin construction in the Spring.
Various equipment providers have offered construction and long term debt financing, and discounts, as part of their quotes for the project. This route, combined with the additional Community Bonds, is the likeliest financing avenue for getting the project off the ground.
We received Expressions of Interest from multiple waste management companies interested in working for both our grocery partner and ZooShare to process and deliver the organics we need. These letters should give our partner the confidence it needs to know that it will continue to have multiple service options once its contract with ZooShare kicks in next year. A meeting will take place in the next couple of weeks to deliver these letters and a draft contract for them to review. Given the milestones ZooShare has achieved recently, it is time to get this agreement finalized so that we can confidently move forward with detailed engineering.
In July, we had the pleasure of meeting some of our fellow food-waste innovators by participating in the Wast(ED): Food Education Speaker Series, a panel discussion initiated by the City of Toronto that featured local organizations exploring innovative ways to reduce, reuse and recycle food waste.
From left to right: Lori Nikkel of Second Harvest , Sue Arndt of Not Far from the Tree, Mike Nevin of FoodShare Toronto, Frances Darwin of ZooShare (not pictured: Helene St. Jaques of Informa Market Research). Photo Credit: Twitter @2ndHarvestTO July 9th 2015
An important distinction between ZooShare and the other panelists is that we will be dealing with a different type of “waste”. As you may know, we believe that “there is no such thing as waste, only wasted resources”, and in our case, the wasted resource is rotting food (which we will turn into power for the Ontario grid). In the case of the other panelists, their resource is food itself. Thankfully, organizations like the ones summarized below are able to “rescue” food before it rots, to feed people who need it.
Food rescue (also called food recovery) is therefore the practice of safely retrieving edible food that would otherwise go to waste, and distributing it to those in need. (The recovered food is edible, but cannot be sold.)
Food Rescue organizations and food-waste recycling organizations (like ZooShare) both play an important role in reducing waste in landfills and lowering greenhouse gas emissions. Take a look at the Food Recovery Hierarchy (developed by the U.S. Environmental Protection Agency) to see where each organization fits: Food Rescue (“feed hungry people”) comes first, followed eventually by biogas production (an “industrial use” to generate energy):
One of the conclusions from the panel is that food recovery organizations have to collaborate to create awareness of and reduce food waste. On that note, read on to learn more about the local Food Rescue organizations that are making a difference right here in Toronto:
Second Harvest is the largest food rescue program in Canada. Since 1985, Second Harvest has picked up surplus, donated food from manufacturers, restaurants and caterers, and has delivered it to community agencies in Toronto who feed those in need. They have rescued 100 million pounds of food from being thrown out, preventing over 50 million pounds of greenhouse gas equivalents from entering our atmosphere.1
Not Far from the Tree is Toronto’s very own fruit tree project, inspiring Torontonians to harvest, share, celebrate, and steward the bounty from our urban forest. When a homeowner can’t keep up with the abundant harvest produced by their tree, a team of volunteers is mobilized to pick their tree. The harvest is split three ways: 1/3 is offered to the homeowner, 1/3 is shared among the volunteers, and 1/3 is delivered by bicycle to local food banks, shelters, and community kitchens. It’s a win-win-win solution!
FoodShare is not a food rescue organization by definition…But their education programs may help save food in the future! FoodShare is a non-profit organization that works with communities and schools to deliver healthy food and hands-on education to teach students food skills, inspire healthy eating, and help people learn where food comes from. (Isn’t it true that if you grow your own food, you are less likely to waste it?)
PS If you really wanted to get into Food Rescue to feed yourself, you could become a “freegan” (aka a “dumpster diver”). The producers of the Just Eat It documentary (which you can watch for free here) were able to eat like kings by doing the same thing…And didn’t pay a cent for groceries in 6 months!