New $300 Million Conservation Financing Mechanism to Save Old-Growth Forests

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Last week the provincial government launched a new $300 million dollar conservation tool to protect old growth forests. The Conservation Financing Mechanism will see $150 million coming from the province, with the remaining $150 million coming from a funding commitment of the BC Parks Foundation.

The conservation financing will ensure that First Nations and the province can conserve critical habitats, better manage climate change and further the government’s work on protecting B.C.’s lands and water. It will also implement the Old Growth Strategic Review, protecting some of BC’s oldest trees.

The BC Parks Foundation will team up with other philanthropic organisations. Using a crowd-sourcing approach to let all British Columbians contribute to the protection of the ecosystem.

The $300 million will fund new conservation measures that are led or supported by First Nations. It will also be used for environment protection measures, capacity building for First Nations, stewardship and guardian programs, and support of low-carbon economic opportunities.

This has become one of BC’s new ways to accelerate old-growth protection as first recommended in the Old Growth Strategic Review. It will join the new Forest Landscape Plans of the province and will make clear objectives for long-term management of old growth, biodiversity, climate change, and wildfire risk.

Minister of Water, Land and Resource Stewardship, Nathan Cullen joins us today to talk about the Conservation Financing Mechanism and what to expect following the announcement.

Then we speak with the President and CEO of the Council of Forest Industries, Linda Coady about her thoughts and how this new announcement could affect the forest industry.

We also speak with Ken Wu, Executive Director of the Endangered Ecosystems Alliance, about what this funding could mean for saving old-growth forests and protecting other important habitats.

Finally, We speak with Torrance Coste National Campaign Director from the Wilderness Committee to get his thoughts on the announcement.

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