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responsible economic development



How big is BC’s energy sector?

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How important is the energy sector to BC?

And is it more or less important than other sectors? ?We’ve compiled this report to find out where the jobs, GDP and growth are coming from in order to determine BC’s main economic drivers.

DOWNLOAD “What’s fuelling BC’s economy?”

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Innovating beyond the beaver: Credible Conversations with Michael Tippett

michael tippett

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Our first Credible Conversations forum was held on May 29th at the Creekside Community Centre in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy here on the west coast.

How to make a billion dollars: building an innovation economy

Michael Tippett, lifetime tech entrepreneur and current Director of New Products at Hootsuite, shares his thoughts on Canada’s economy past and present. Here’s his call to grow rather than harvest, create rather than extract, and to disrupt everything:

Credible Conversations panel: What does responsible economic dev’t mean in BC?

second panel

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Our first Credible Conversations forum was held on May 29th at the Creekside Community Centre in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy here on the west coast. Over the next few days, we will be posting videos, photos and presentations from the forum here on our blog.

What does responsible economic development look like in BC?

The second experts’ panel explored economic alternatives: if we don’t built new oil pipelines, then what will our economy be based on instead? What industries should we nurture and support? Where will jobs, innovation and growth come from?

Moderated by Tara Mahoney from GenWhy Media, panelists included Linda Solomon from the Vancouver Observer, Bradley Shende from M2O Digital Agency and Rueben George from the Tsleil-Waututh Nation and TWN Wind Power.

Watch the full discussion here:

Credible Conversations panel: Will new oil pipelines benefit BC businesses?

Panel BC biz and pipelines

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Our first Credible Conversations forum was held on May 29th at the Creekside Community Centre in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy here on the west coast. Over the next few days, we will be posting videos, photos and presentations from the forum here on our blog.

Will BC businesses benefit from new oil pipelines?

The first experts’ panel explored the economic impact of oil pipeline development on the province’s economy as a whole.

Moderated by Mandy Nahanee from the Squamish Nation, panelists included Karen Campbell, a staff lawyer with Ecojustice, Wes Regan, CEO of the Hastings Crossing Business Improvement Association, and Ngaio Hotte, an economist with the UBC Fisheries Economics Research Unit.

Watch the full discussion here:

And here are the slides used by Ngaio Hotte in her presentation. A more detailed analysis can be found on the UBC Fisheries Economics Research Unit “talking fish” blog.

Slide1 Slide2 Slide3 Slide4

 

Notes from the real estate stream

Group question

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Our first Credible Conversations forum was held May 29th in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy on the west coast.?

*These are rough notes from the break-out sessions and are not meant to convey the opinions of all CRED members, or even all participants in the break-out group.

How could a new oil pipeline affect the real estate and property development industries?

Costs/risks:

  • Value of homes detrimentally impacted
  • Risk to property values
  • Affects Vancouver’s brand
  • Vancouver becoming a “petrol-port”
  • Health impacts – fumes from trucks and tankers
  • Harbour view affected

Benefits:

  • Kinder Morgan media plugs help raise awareness about the region
  • Kinder Morgan is reaching out to community regarding their proposal
  • Economic growth = population growth, more development, higher real estate values
  • Increased tax income to pipeline municipalities

Information needed:

  • How much do people value the Vancouver brand?
  • At what point is the impact too much to be allowable?
  • How long does it take to recover from an oil spill?
  • Is it possible to completely recover from an oil spill?
  • What are the economic costs of environmental degradation i.e. airshed quality?
  • Can Vancouver still be the “greenest city” if the project goes ahead?
  • How much would it cost to insure the pipeline without government coverage?
  • What / how many / for how long will new jobs be around for?
  • Will the pipeline attract people to move to Vancouver?
  • How would an earthquake affect the pipeline / tankers?

 

Notes from the tech, digital and creative stream

CredConvo tech breakout group

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Our first Credible Conversations forum was held May 29th in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy on the west coast.?

*These are rough notes from the break-out sessions and are not meant to convey the opinions of all CRED members, or even all participants in the break-out group.

How could a new oil pipeline affect the tech, digital and creative industries?

Costs / risks:

  • Environmental damage
  • Brand risk to Vancouver
  • In general, not enough is known on the risks to tech/film

Information needed:

  • Need reputable, accessible information available through a central resource
  • Need a clear outline of the risks
  • Case studies, surveys
  • More understanding of the alternatives / solutions
  • Solution-focused, with outline of clear actions to take
  • Look to industry to take a position
  • Key spokespeople
  • Information for parents: what are the risks to children?
  • Need tools: advocacy, outreach, socialization

Where are the opportunities to support this sector?

  • Education
  • Ride-share programs, electing to go car-free
  • Platforms for easy communication sharing that supports more low-carbon lifestyles
  • Crowd-funding opportunities for start-ups
  • Creative solutions
  • Online training platforms
  • Opportunities for online conversations that bring more people into the discussion and maintain it beyond events like this

Notes from the cross-sectoral stream

Cross sectoral group

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Our first Credible Conversations forum was held May 29th in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy on the west coast.?

*These are rough notes from the break-out sessions and are not meant to convey the opinions of all CRED members, or even all participants in the break-out group.

What does cross-sectoral mean?

  • Interdisciplinary, multifaceted, coming from different perspectives
  • Inclusivity and diversity, bridge between cultures
  • How sectors can work together
  • Shared interests, big picture
  • Directing forces and ideas
  • Common / shared interests, collaboration
  • Includes unions

How might a new oil pipeline affect the west coast’s economy?

Costs/risks:

  • Increased reliance on foreign investment
  • Risk of skills drain
  • Free trade deals (contradictions)
  • No local energy security plan
  • Chevron jobs at risk?
  • Climate change risks
  • Costs of oil spills – insufficient insurance, tourism/cruise ships, attracting talent
  • Kills innovation in alternative energies
  • Impacts the region’s livability
  • No long-term benefits locally

Benefits:

  • Lower taxes, more funds for health care & education
  • Jobs: construction, oil sands jobs
  • Strength of Canadian economy – global position as resource leader
  • Strengthen trade relationships with the US, China
  • Increased global oil supply
  • Pipelines are cheaper and safer than rail or road transportation
  • Return on RRSPs / equity market will benefit

Information needed:

  • What does a transition away from oil dependence look like as opposed to a crash?
  • Where else could tax revenues come from? (Carbon tax?)
  • More conversations on the oil economy vs the green economy
  • Need to break through the spin
  • Are people intimidated to speak up against real or perceived business interests?

Notes from the tourism & hospitality stream

Tourism group

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Our first Credible Conversations forum was held May 29th in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy on the west coast.?

*These are rough notes from the break-out sessions and are not meant to convey the opinions of all CRED members, or even all participants in the break-out group.?

What are the impacts of new pipelines on the tourism and hospitality industry?

Costs / risks:

Risks of increased tanker traffic

  • Marine life impacts
  • Visual pollution
  • Impact on kayaking and canoe tours
  • Impact on the brand of Vancouver

Risks of an oil spill along the coast

  • Could decimate fishing and coastal tourism
  • Decrease in fish stocks can be irreversible – example of Saskatchewan vs Alberta management of recreational fishing and fish stocks
  • Would hurt BC’s reputation as a pristine visitor destination
  • Impact on cruise ship traffic

Benefits:

  • Increased funding for arts and cultural activities from resource company marketing budgets
  • Potential to develop industrial tourism around the Westridge Marine Terminal

Information needed:

  • With the new pipelines, what does a business as usual scenario (i.e. increased tankers, no spills) look like?
  • What is the cumulative risk of small spills over time?
  • How will increased tankers impact salmon, orcas and other marine life?
  • Need common industry definitions of small, medium, large sized spills that are used consistently
  • Can tiers of impact be created in advance so that it’s clear what’s happening in the case of a spill and what the response should be?
  • Do funds need to be set aside for a big marking campaign promoting Vancouver as a destination in the case of a spill?
  • In the case of a spill, what would be recoverable and what would be the recovery time? (i.e. on small businesses)
  • What is the tourism industry’s exposure to transportation risk, considering the methods of transportation visitors use to get to the area?

What are the practical opportunities to support a more diversified economy?

First Nations-led tourism:

  • Popular with visitors looking to learn about indigenous culture
  • Can promote economic justice and increase tourism revenues at the same time
  • Opportunity for First Nations to reconnect with their culture
  • Eg Meares Island tree walk in Tofino, managed by the Tla-o-qui-aht First Nations

Promote nature-based tourism in an urban setting:

  • Very few places in the world have the same juxtaposition as BC’s south coast
  • Half of the province’s tourism jobs are in the Lower Mainland
  • In the future, job shortages in tourism are predicted
  • Can learn from others: i.e. New Zealand’s eco tourism-centered strategy that involves many stakeholders from local governments to Maori groups

Make sure not to become overly reliant on tourism – places like Tofino, for example, are already very dependent and wouldn’t benefit from a stronger reliance on just one industry for their economic growth