About Us
Green Star Royalties Ltd. is a joint venture between Star Royalties Ltd. (TSXV: STRR, OTCQX: STRFF), Agnico Eagle Mines Limited (TSX, NYSE: AEM) and Cenovus Energy Inc. (TSX, NYSE: CVE) that invests into North American carbon offset projects in nature-based solutions, renewable energies, as well as other green technologies. We fund cash-flowing and near-cash-flowing opportunities in the decarbonization and energy transition markets. We innovated the world’s first carbon credit royalties and our goal is to provide shareholders exposure to decarbonization projects, with leverage and upside from project expansion, optimization, and additional carbon reduction potential. We aim to create wealth by structuring creative investments that prioritize stakeholder alignment, strong corporate governance, and environmental stewardship to ensure a sustainable future.
Our Company is supported by strategic investments by two senior Canadian natural resources and ESG leaders – Agnico Eagle Mines (March 2022) and Cenovus Energy (December 2023). The Company is currently owned 46% by Star Royalties, 26% by Agnico Eagle Mines, 26% by Cenovus Energy, and 2% by management. The strategic
investments by Agnico Eagle Mines and Cenovus Energy have provided us with two cornerstone shareholders, validation of our business model and investment pipeline, expanded Board and Technical Committee expertise, significant recognition of value, and a pathway to continue Green Star Royalties’ growth.
Highlights and Investment Rationale
- Growing cash flow from Tier 1 jurisdictions: Green Star Royalties is currently generating carbon credits from its investments. Our focus is purely on North American projects, with a goal of minimizing geopolitical risk and favouring established, credible market mechanisms.
- Exposure to decarbonization and cleantech projects: Our strategy is to provide shareholders with exposure to decarbonization and cleantech projects and to generate superior returns through the origination of carbon credit royalties and streams.
- Originating carbon offsets: As part of our portfolio, we focus on funding new carbon offset projects in nature-based solutions, renewable energies, as well as other green technologies.
- Best-in-class partnerships: Green Star Royalties enjoys a strong working partnership with Anew Climate (North America’s leading carbon offset developer and marketer), NativState (a growing U.S. based carbon offset developer), as well as expanding relationships with numerous Canadian Indigenous communities and First Nations. In early 2022, Green Star Royalties announced a strategic investment by Agnico Eagle Mines, a senior Canadian gold mining company and a globally-recognized leader in ESG practices, followed by an equal strategic investment by Cenovus Energy, a senior Canadian-based global energy company, in December 2023.
- First-mover and strong pipeline: Green Star Royalties pioneered first carbon credit royalty investment and is executing on a pipeline of cash-flowing and near-cash-flowing carbon credit opportunities in decarbonization and energy transition markets.
- Respected team: Green Star Royalties leverages the experience of Star Royalties’ management team, as well as its internal industry-leading carbon expertise. Its Board and Technical Committees review new investment opportunities and have equal representation from Star Royalties, Agnico Eagle Mines and Cenovus Energy.
- Strong governance and superior alignment: Green Star Royalties is managed with top-quartile corporate governance principles under a diverse board, with two appointees each from Star Royalties, Agnico Eagle Mines and Cenovus Energy. Our core operating philosophy is to structure innovative transactions that are well aligned with the interests of all stakeholders.
Philosophy
Green Star Royalties aims to provide shareholders with exposure to high-quality, derisked and cash-flowing opportunities in cleantech and carbon offset projects, while providing leverage and upside from project expansion, optimization, and additional carbon reduction potential. By pioneering innovative royalty structures based on our management team’s decades of experience in the mining royalty sector, Green Star Royalties is well-positioned to fund new decarbonization projects into existence. Our philosophy is to enable a net-zero economy while simultaneously realizing good returns with intelligent, mutually beneficial, ESG-centred transactions.
Carbon Credits
The Paris Agreement reaffirms the goal to limit global temperature increase to below 2°C above pre-industrial levels, with a secondary aggressive target of limiting that increase to 1.5°C. Many governments and thousands of corporations having since committed to significantly reducing greenhouse gas emissions by 2030 and being net zero by 2050.
Carbon offsets are generated from any activity that either prevents or reduces carbon emissions (such as renewable energies or methane capture technology) or improves carbon sequestration (such as regenerative agriculture, or reforestation and conservation of forested lands, or direct carbon capture technology).
Carbon credits are effectively a measurable net benefit from an activity versus the status quo. Their units are measured in metric tonnes of CO2e, meaning one carbon credit is equal to one metric tonne of CO2e emission reduction.
Experienced Management of Capital Allocators and Carbon Experts
Our team’s combined experience comprises more than 100 years of senior roles in the mining and carbon sectors. Our experience and time spent in various aspects of these industries have allowed us to cultivate strong industry relationships over decades of engagement, resulting in a pipeline of opportunities and an extensive global asset knowledge base.
Why Partner with Us?
We are not simply investors in environmental projects. We pride ourselves on being collaborative and transparent partners to North American, nature-based, and cleantech decarbonization project owners, with the ultimate goal of enabling a carbon-neutral economy. Our management team has decades of combined industry experience and a deep understanding of structuring creative transactions that work for all counterparties. That makes us partners of choice. Our royalty business model, North American focus, and strong expertise in governance and environmental stewardship make us attractive to both generalist and ESG-focused investors.