BC’s $300M Conservation Financing Mechanism for Old-Growth Forests and Indigenous-Led Conservation

Cynthia Callison, vice-chair of BC Parks Foundation and a member of the Tahltan Nation. Photo: Taylor Roades / The Narwhal

BC Premier David Eby speaks in Victoria’s Beacon Hill Park during the announcement of B.C.’s $300-million Indigenous conservation fund, announced Thursday, Oct. 26, 2023. Photo: Taylor Roades / The Narwhal

The British Columbia government took a significant step in late October towards protecting old-growth forests and creating new protected areas with the announcement of a $300-million Conservation Financing Mechanism. This forward-looking initiative includes an investment of $150 million from the Provincial government, complemented by an additional commitment of $150 million from the BC Parks Foundation. Managed by the foundation, the fund will finance ecosystem protections, including Indigenous stewardship and guardian programs, capacity building, and unspecified low-carbon economic opportunities. Individual and private sector donations will augment it. 

"These critical resources will help bolster more Indigenous-led conservation and ensure we are collectively better prepared to mitigate climate change impacts from the very local to the global. Indigenous sustainability teachings, such as Gwelx ye’enst (Gitanyow sustainability principle), have much to offer the creation of new provincial land and water protection measures for salmon, water, and wildlife resources." – Tara Marsden, Gitanyow Hereditary Chiefs and IWI Indigenous Advisor 

The $300 million investment will support a diverse array of conservation measures, with a strong emphasis on those led or supported by First Nations, ensuring long-term environmental protection, capacity building for Indigenous communities, stewardship programs, and the cultivation of low-carbon economic opportunities. These funds will provide important resources for Nations leading this work, while also helping better manage for climate change and biodiversity. This initiative epitomizes the potential of collaborative and forward-thinking conservation strategies, advancing the cause of environmental preservation. 

Premier David Eby has underscored the pivotal role of preserving natural ecosystems in the face of the climate crisis. The Conservation Financing Mechanism is poised to play a central role in protecting critical habitats, bolstering climate change management, and enacting the recommendations of the Old Growth Strategic Review. The announcement included a commitment to replace industry-driven forest planning with Forest Landscape Plans that will establish clear objectives for old growth, biodiversity, climate change, and wildfire risk.  

Congratulations to the province, BC Parks Foundation, and all the incredible partners and Indigenous leaders who made this work happen. 

To read the full press release, click here.