Bonding strategy proposed for industrial projects

The Ministry of Environment and Climate Change Strategy has released a discussion paper on the Public Interest Bonding Strategy. The objective of the Strategy is to ensure that owners of industrial projects pay the full costs of environmental clean-up and remediation, even if projects are abandoned.

 

UBCM’s membership has endorsed several resolutions on contaminated sites and brownfields that sought to financially incentivize and/or legislate remediation efforts, and to ensure that the responsible parties pay for those efforts. It has consistently supported the need for a brownfield renewal strategy that would remediate existing sites, as well as help prevent future contaminated and brownfield sites.  

 

The Ministry has commenced stakeholder and Indigenous engagement on the discussion paper and is seeking comments to strengthen financial assurance in BC. The deadline for the submission of comments is May 28th, 2022.