B.C. Forest Investment Account in Business: Finally

B.C.’s latest stand-in for public investment in forestry is now up and running. More than $90-million will have to play catch up with the field season. It is up to industry to move the program now.

B.C.’s Forest Investment Account in Business; Finally

While Alberta’s private trust for funding forestry investments is likely suffering some public doubts following allegations of less than rigorous forestry standards in the province, B.C.’s new born and untested forest investment account is finally in business. The novel scheme, by B.C. standards, will see collaborations of private proponents directing public forestry investments in management areas across the province. It received the final imprimatur of the province’s Attorney General’s Office this week. Proponents are now in a position to enter legal agreements with the government’s agent administering the account, Pricewaterhouse Coopers, to spend an estimated $95-million on land base forestry.

It is now up to industry to seize the moment and spend their allocated funds on various projects ranging from restoration to stand tending activities province wide. Projects could be up and running within weeks according to sources administering the account.

For more information on the forest investment account: http://www.wfca.ca/News/RumourMills/2002/05/2002-05-24.B.C.ForestInvestment.shtml http://www.wfca.ca/Resources/Articles/2002/2002-05-24.FrequentlyAskedQuestions.shtm

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