BC Announces $300 Million Conservation Financing Program for Old-Growth Forests

The British Columbia Provincial Government announced on Thursday (10-26-23) that it is accelerating the protection of BC’s oldest and rarest trees while benefiting communities and wildlife by launching a new $300 million (CAD) Conservation Financing Mechanism. The program will be funded by $150 million from the Province, matched by a commitment to raise an additional $150 million from the BS Park Foundation (Foundation).

According to the press release, conservation financing will ensure that First Nations and the Province can conserve critical habitat, better manage climate change, and further government’s action on protecting more of BC’s lands and water and implementing the Old Growth Strategic Review. The funds will be managed by the Foundation and will be overseen independently from government by a special committee made up of experts, half of whom will be First Nations members.

In a statement prepared to accompany the announcement, BC Premier David Eby said:

“Conserving nature is one of the most important things we can do to protect against the worst effects of climate change while creating a healthier future for everyone. That’s why we’re working with the BC Parks Foundation and First Nations to launch a new tool that will protect old-growth forests and conserve critical habitat across the province for generations to come.”