Sustainable Development Vancouver Island

Transcription

1 Sustainable Development Vancouver Island

2 Rupert Downing Manager, Vancouver Island Community Investment Cooperative Chair, BC Community Impact Investment Coalition BC Representative, Canadian Community Economic Development Network

3 Vancouver Island Community Investment Cooperative Provide vehicles for residents of the Islands to invest for community social, economic and environmental benefit in their own backyards.

4 Why? $4.3 B in RRSP investments leave the Province each year, $500 m from the Islands. Not one cent invests locally. Residents want a way to invest in sustainable development and a green economy

5

6

7 Community Resources for a multi-faceted approach conceived and directed locally for revitalizing and renewing economies by managing and strengthening community resources for community benefit. Community Benefit

8 VICIC VANCOUVER ISLAND COMMUNITY INVESTMENT COOPERATIVE Founded in 2015 with members across VI and the Gulf Islands Developing vehicles to invest in affordable market rental housing and locally owned sustainable enterprises Repatriating the $500 m in annual RRSP investments made by residents for local community benefit

9 Uses capital raised from sale of investment shares to provide debt or equity financing Investors (you and me!) Purchases investment shares in co-operative Community Investment Fund Cooperative Raises capital by selling shares investment shares in the Cooperative Controlled by community members ( the Members ) Locally owned community enterprises and affordable housing Supports the local economy Provide return to investor from proceeds of investments Pays back investment from co-op with interest or through return on equity investment

10 THE GOAL OF LOCAL INVESTING Private Financial Return High Social Return Manageable Risk The Sweet Spot Credit to Michael Shuman

11 PROSPECTS EMPLOYMENT SOCIAL ENTERPRISE INITIATIVE Five Year Demonstration Program using Social Enterprises to improve employment outcomes for disadvantaged youth Funded by BC Government in partnership with BC Centre for Employment Excellence

12 PROSPECTS FIRST NATIONS ECONOMIC DEVELOPMENT Ts ou-ke First Nation energy self sufficient with largest solar array in BC Sustainable shell fish farm including first sea cucumber production in BC BC s only Wasabi Greenhouse operation that finances food greenhouse production that puts a good food box into every household

13 PROSPECTS AGRI-FOOD BUSINESS Sandown agri-food project North Saanich Vancouver Island Chefs Collaborative Loan Fund Salt Spring Island community investment fund V.I. Direct Farm Marketing Association

14 PROSPECTS RENEWABLE ENERGY AND WASTE RECOVERY Energy Cooperative on V.I. installing solar arrays for residential, farms and institutions VI Hotel Assoc. & BC Recycling Association Shawnigan Eco-Industrial Park Anaerobic Digestor and Generator First Nations Run of River Hydro

15 PROSPECTS AFFORDABLE HOUSING Market rental housing. Green energy upgrades. Guaranteed rents 30% below market.

16 POTENTIAL VEHICLE FOR INDIVIDUALS AND INSTITUTIONS TO INVEST IN THEIR COMMUNITIES JUST 2% OF CURRENT RRSP CONTRIBUTIONS ON THE ISLANDS WOULD RAISE $10 M PER YEAR MEANS TO LEVERAGE LOCAL/REGIONAL GOVERNMENT FUNDS FOR SUSTAINABLE DEVELOPMENT RAISING CAPITAL TO MAKE THE TRANSITION TO A MORE SUSTAINABLE ECONOMY FOR ALL ON THE ISLANDS

17 KEY ISSUES BC ONLY PROVINCE TO HAVE NO TAX INCENTIVES/REGULATION FOR COMMUNITY INVESTMENT FUNDS LACK OF INSTITUTIONAL PROCUREMENT POLICIES TO BENEFIT SUSTAINABLE SOCIAL AND ENVIRONMENTAL ENTERPRISES THE ISLANDS NEED BIO-REGIONAL PLANNING TO PROTECT OUR LONG TERM SUSTAINABILITY NOT THE CURRENT FRAGMENTED PLANNING REGIME

18 RESOURCES nitiatives/cif.html

19

20 THANK YOU RUPERT DOWNING MANAGER, VANCOUVER ISLAND COMMUNITY INVESTMENT CO-OP