Partnerships
We have differentiated Green Star Royalties by establishing best-in-class partnerships across our entire business model. To ensure project development quality, scalability and longevity, we have developed a strong working partnership with Anew Climate, North America’s leading carbon offset developer and marketer.
To source attractive and aligned investment capital, our Company operates as a joint venture between Star Royalties, Agnico Eagle Mines and Cenovus Energy. Both Agnico Eagle Mines and Cenovus Energy are senior Canadian-based global leaders in natural resources and energy sectors, with strong, globally-recognized commitments to sustainability and ESG practices.
From a project-level perspective, we directly partner with Canadian First Nations, Indigenous communities and American farmers. As a Company that prides itself in specializing in bespoke and operator-friendly financing solutions, our partnerships are instrumental to our ability in structuring mutually beneficial agreements that optimize our counterparties' capital structure, and generate a return well above our cost of capital.
Carbon Project Development Partnership with Anew Climate
In 2020, through the creation of the world’s first forestry carbon credit royalty, we partnered with Anew Climate (previously Blue Source) to collaborate on developing and financing forestry carbon offset projects. That collaboration has since evolved into a partnership that spans multiple projects, including our investment into Locus AG’s regenerative agriculture program with a scope of 1.32 million acres of farmland across the United States. We look forward to jointly advancing progressively larger nature-based carbon projects over the coming years.
Anew Climate is a climate action partner for private and public companies, non-profit organizations and governments. Anew Climate has pioneered creative solutions to the climate crisis since 2001, with deep expertise across environmental technologies and markets. With close to 400 active projects in the United States and Canada, Anew Climate is a leader in voluntary, compliance and pre-compliance carbon, renewable energy attribute, renewable natural gas and energy efficiency markets. For seven consecutive years, Anew Climate has been voted Best Project Developer (North America) and Best Offset Originator (California) by peers and partners in Environmental Finance’s Annual Market Rankings.
Strategic Investments by Agnico Eagle Mines and Cenovus Energy
Founded originally by Star Royalties in late 2021, our Company has had two strategic investors become capital partners and potential co-investors in future opportunities. Agnico Eagle Mines made a strategic investment into Green Star Royalties in March 2022, followed by Cenovus Energy in December 2023. Our Company is currently owned 46% by Star Royalties, 26% each by Agnico Eagle Mines and Cenovus Energy, and 2% by management. These strategic investments have provided us with two cornerstone shareholders, a significant recognition of value and a pathway to continue Green Star Royalties’ rapid growth.
Agnico Eagle Mines is a senior Canadian gold mining company and is recognized globally for its leading ESG practices. Cenovus Energy is an integrated Canadian-based global energy company, focused on managing its assets in a safe, innovative and cost-efficient manner, while integrating ESG considerations into its business plans.Both Agnico Eagle Mines and Cenovus Energy are strongly aligned with our values and philosophy on sustainability, making them excellent strategic long-term shareholders.
We anticipate that strategic involvement of our cornerstone shareholders and their participation on the Board and Technical Committees will lead to an acceleration in our growth trajectory and will allow the Company to originate, fund and participate in additional, larger carbon offset opportunities. A more scalable build-out of the carbon credit investment strategy will allow us to leverage our strong relationships and first-mover advantage to become the partner of choice in originating carbon credit and other green royalties, as well as attract capital from both generalist and ESG-focused investors.