Whereas the Province of BC is undertaking a Coast Forest Sector Revitalization Initiative to rebuild solid wood and associated industries, improve harvest performance, maintain a credible auction system, foster stronger relationships between BC Timber Sales, Licensees and First Nations and restore public confidence though amendments to the Forest and Range Practices Act; And whereas forests offer provisioning services such as timber, food and fuels; regulating services such as carbon sequestration that keep our planet habitable; cultural services such as recreation; core local government services including drinking water storage and filtration, stormwater management and flood control; and many other ecological processes that are vital to life yet primarily taken for granted and not accounted for; And whereas many jurisdictions are assigning economic value to ecosystems services in forests and many other natural areas to support sustainable development, cost effective and reliable service delivery and the long-term preservation of a healthy, biodiverse ecosystem: Therefore be it resolved that the Province of BC undertake natural capital valuations in all aspects of its forests and land resources management, starting with the Coast Forest Sector Revitalization Initiative, and demonstrably use these valuations in all related decision-making and asset management.
Ministry of Forests, Lands, Natural Resource Operations and Rural Development In the development of the Coast Forest Revitalization initiative, our Ministry has undertaken an Economic Analysis of the potential impacts of the new forest policies. This analysis formed part of the decision-making package for approval of the new forest policies and the request for Coast Forest Revitalization funding from treasury board. The analysis, however, did not undertake natural capital valuations as suggested in the resolution. With most of the new policies in the implementation phase we are currently monitoring the effects of the Coast Forest Sector Revitalization initiative and will adjust the policies as required. The Ministry will consider the UBCM resolution in economic analysis of future policy development.