The B.C. government has announced that it will be increasing the forestry revenues being shared with First Nations as part of the groundwork being laid to co-develop a new revenue-sharing model.
The government says that the change will result in an immediate increase of $63 million for First Nations this year.
Katrine Conroy, Minister for Forests, says that the government’s vision is to be full partners in sustainable forest management with B.C.’s First Nations with meaningful benefits going to communities from the forestry taking place on their territory.
“By immediately doubling the amount of forestry revenue shared with First Nations and starting work to co-develop to a new revenue-sharing model, we are taking another important step to realize this vision and expand opportunities for Indigenous Peoples across B.C.,” Conroy said in a release on Wednesday.
The government says it intends to move away from the short-term transactional approach that has previously been deployed and work toward a new fiscal framework that “recognizes, respects and supports Indigenous Peoples’ right to self-determination.”
Although most First Nations receive benefits from B.C.’s forestry revenues at this time, the Province feels the current model is “inadequate,” having received feedback from First Nations, including engagement on the BC First Nations Forest Strategy and the Forestry Modernization Intentions Paper.
Engagement on co-developing a new forestry revenue-sharing model is expected to take at least two years, says the government, adding that the interim enhancements will be in place until a new forestry revenue-sharing model is finalized.
Under the existing forestry revenue-sharing program, First Nations received $58.8 million in the 2021-22 fiscal year. The interim enhancement will be effective April 1, 2022 and will increase Forest Consultation and Revenue Sharing Agreements rates by five percentage points – from 3 per cent, 4 per cent or 5 per cent to 8 per cent, 9 per cent or 10 per cent.
More information on the current Forest Consultation and Revenue Sharing Agreements can be found here.
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