Thank you, Mr. Chair.
Good afternoon, Mr. Chair and committee members.
I'm speaking to you today from the unceded traditional territory of the Songhees and Esquimalt nations.
Since 2021, Watershed BC has partnered with two philanthropic organizations that administer $42 million in provincial funding to support 110 watershed security projects.
Today I want to highlight a critical issue. Over the last 15 years, federal engagement in B.C.'s watershed freshwater challenges has been insufficient compared to other regions.
Today, I propose—as I did the other day—a quadruple win opportunity for the federal government in B.C., emphasizing collaboration with the province, NGOs and first nations.
The four conditions for federal leadership are offering economic benefits and employment opportunities, rural community support, UNDRIP implementation and addressing climate impacts.
First, B.C. has invested $57 million since 2021 in watershed security, with an additional $110-million commitment for a watershed security fund endowment.
Second, we know that watershed security generates economic potential and jobs. We've seen 1,273 direct jobs associated with $20 million of funding. The Indigenous Watersheds Initiative currently is supporting 103 jobs, with an estimated 245 jobs primarily in indigenous communities.
Third, as fellow witnesses have shared, in addressing climate impacts, watershed security is a proactive step to saving long-term costs. The 2021 floods in B.C. cost $9 billion. This year's wildfire costs were $987 million. The historic drought we experienced this year is predicted to result in $1 billion in losses.
Lastly, we've proven that investing in watershed security supports UNDRIP implementation, allowing first nations to focus on priorities such as protecting and restoring their watersheds.
In conclusion, B.C. is ready for collaboration. We recommend that the federal government invest $400 million in B.C.'s watershed security fund.
I commend Mr. Bachrach's motion of November 30. Allocating resources to this work creates jobs, watershed security and community resilience and proactively addresses climate disasters.
I hope today that we can have a conversation about these freshwater priorities.
Thank you.