Set a large pot over medium-high heat and add the butter. When the butter is melted, add the onion. Cook for 3 minutes, stirring frequently, until softened.
Stir in the garlic, thyme, and salt. Cook for 30 seconds then stir in the flour. Mixture will be thick and chunky.
Gradually add the vegan chicken broth, whisking until smooth.
Add butternut squash and bay leaf. Bring just to a boil then reduce the heat to low. Cover and simmer for 10 minutes, until the squash begins to soften.
Stir in the chopped kale, then replace cover and continue cooking for an additional 10 minutes, until the squash and kale are tender
Remove from heat. Discard bay leaf then stir in heavy cream and sage.
Adjust seasoning to taste and serve hot.