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May 2021

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Yesterday, over 99% of Unilever shareholders voted in favour of a non-binding resolution supporting the company’s Climate Transition Action Plan (the “Plan”). The Plan sets a target of achieving net-zero by 2039 for each and all of Scope 1, 2, and 3 emissions. The Plan sets the following targets: Net-zero by 2039 across Scope 1, 2, and 3 emissions; 70% reduction against a 2015 baseline in Scope 1 and 2 emissions by 2025 and 100% reduction by 2030; 1.5oC aligned Science Based Target; Cut the footprint of products in half by 2030 against a 2010 baseline; and €1 billion for a Climate and Nature Fund To achieve the goals and targets of the Plan, Unilever is undertaking, among others, the following actions: 100% reusable, recyclable, or compostable plastic packaging by 2025; By 2030, electric vehicles will make up 100% of Unilever’s global car fleet; 100% renewable grid electricity (achieved in 2020) and heat by 2030; phase out high-impact HFC refrigerant from cooling systems; align capital expenditure with their 1.5oC pathways; €1B target for annual sales of plant-based meat and dairy alternative by 2025-2027; 60% reduction of product emissions through concentration and compaction; Replace fossil-fuel derived carbon with renewable or recycled carbon by 2030 in home care formulations; and Help protect and regenerate 1.5 million hectares of land, forests, and oceans by 2030. In addition, as part of the Plan, Unilever will begin to disclose the carbon footprint of every product is sells. Please contact Lisa DeMarco at lisa@resilientllp.com should you wish to discuss the contents of this bulletin.

Today the Ontario Ministry of Natural Resources and Forestry (“MNRF”) released a draft Forest Biomass Action Plan (the “Draft Plan”), a commitment made in Ontario’s forest sector strategy, released on August 20, 2020. The Draft Plan is now open for comment until June 21, 2021. This bulletin briefly summarizes the Draft Plan. The Draft Plan seeks to examine innovative uses of forest biomass, such as mill by-products and underutilized forest biofibre, for applications in heat and power generation and sustainable, low-carbon consumer products. The Draft Plan strives to secure jobs, support economic development, and encourage sustainability in the forest sector. The Draft Plan seeks to achieve the following five objectives: Identify pathways to markets for forest biomass by: further refining Ontario’s inventory of forest biomass; publishing reports summarizing the types of forest bioproducts and technologies and describing current and future demand for Ontario bioproducts; completing a jurisdictional scan; developing a life cycle inventory for traditional and non-traditional wood products, study biomass carbon dynamics, and refine life-cycle impact assessment models; supporting development of regional clusters; and conducting collaborative research studies on soil quality, stand development, productivity, and biodiversity. Support demand for forest bioenergy and bioproducts by: ensuring that existing facilities receive ongoing access to the provincial market at fair compensation; publishing a report quantifying the financial contribution of forest biomass; providing resources for the development of community-led projects; advancing the use of forest biomass through the Ontario Bioheat Initiative; creating a provincial bioheat strategy; engaging with potential industry users to integrate forest biomass into supply chains; and pursuing government procurements that use biomass to reduce the carbon footprint of buildings, energy, and other products. Improve the business and regulatory environments for the use of forest biomass by: reviewing and updating Ontario’s Forest Biofibre Directive; streamlining permitting and reduce regulatory burdens; making…