A Canadian cleantech this week confirmed a collaboration with a major financial services provider.
Vancouver-based veritree says its partnership with Toronto-based Manulife “merges environmental stewardship with cutting-edge technology.”
Manulife is the first corporate partner to implement veritree’s award-winning Smart Forest technology in its reforestation efforts.
The financial giant is set to deploy the tech throughout its Manulife Impact Forest, a network of restoration sites in Canada and around the world designed to enhance biodiversity and contribute to climate resilience, according to a statement from the organization.
“Manulife is proud to announce the Manulife Impact Forests,” stated Ariel Kangasniemi, Global Chief Sustainability Officer at Manulife, “and to collaborate with veritree in deploying their groundbreaking Smart Forest Design technology around the world.”
With locations in Japan and the Philippines, the collaboration also marks the debut of veritree’s technology in Asia.
“We believe that when nature does well, people do well,” Kangasniemi stated. “This collaboration exemplifies how innovation, accountability, and environmental stewardship can come together for the benefit of both.”
Veritree’s technology combines satellite imagery, ground-level data, and bio-acoustic monitoring to guide sustainable forest management.
“This is what scalable, verifiable restoration looks like,” says veritree cofounder and chief executive officer Derrick Emsley.
The Canadian company’s proprietary platform delivers real-time insights and transparency throughout the lifecycle of each restoration project.
“Nature-based solutions are only as powerful as the trust people have in them,” explains Emsley.
Data from Manulife’s Impact Forests will be uploaded within Manulife’s veritree impact platform. Trees planted within these sites are tied to measurable outcomes like tonnes of carbon sequestered, hectares restored, and biodiversity gains.
“Through this partnership with Manulife, we’re proving that restoration can be both high-integrity and high-tech, connecting trees planted to real data, real people, and real results,” Emsley remarked.
Recognized as one of the fastest growing tech firms in Canada, veritree has so far helped plant more than 185 million trees.
The B.C. upstart raised a $9M Series A round last year.