Thank you, Miki.
Rivershed actively participates in the BC Watershed Security Coalition in advocating a B.C. watershed security fund. The B.C.-First Nations Water Table announced the co-development of the B.C. watershed security strategy and fund in March 2023, with an initial investment of $100 million.
This was a great start, but a $100-million endowment fund will only generate $5 million a year for projects. That is a far cry from what is needed to safeguard B.C.'s watersheds. It needs to be at least 10 times larger.
The B.C. watershed security fund needs substantial federal support to reach its full potential and adequately address challenges faced by watersheds in B.C., including the Fraser.
We are asking this committee to recommend that the Government of Canada invest $400 million in the B.C. watershed security fund and fulfill their commitment to make a historic investment of $1 billion in the freshwater action plan.
These investments could help address immediate challenges, all while advancing climate mitigation, reconciliation and sustainable economic development.
Allocating funds after disasters happen to deal with the immediate aftermath is no longer sufficient; it's imperative to proactively address the root causes before our watersheds experience levels of drought and habitat loss they cannot recover from.
This proactive approach is still possible in the Fraser watershed. The B.C. watershed security fund presents an opportunity to proactively address disasters and break the cycle of merely responding to them. It will allow us to get ahead of crises and invest in resilience and prevention.
The Fraser watershed underscores the urgency of this shift and a move from reactive to proactive, safeguarding our ecosystems, communities and economies for the long term.
Thank you.