Stephen Rees's blog

Thoughts about the relationships between transport and the urban area it serves

NDP’S GREEN BOND TO SUPPORT JOBS AND NEW GREEN ECONOMY

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NDP Media Release

VANCOUVER — New Democrat Leader Carole James announced a plan today to stimulate job growth and the new Green economy through a new B.C. Green Bond investment. The plan will also significantly reduce greenhouse gas emissions.

“Our economic partners across Canada and in the U.S. are looking for opportunities to invest in new green technology and energy alternatives. My B.C. Green Bond plan will ensure B.C. is a leader. It will create opportunities to build the new green economy and stimulate job growth while reducing greenhouse gases and fighting climate change,” said James.

James outlined a plan to issue B.C. Green Bonds each year for ten years, creating a dedicated fund to invest in green infrastructure and technology. The funds will be invested to create 15,000 new, green jobs in construction, manufacturing, transportation and service sectors in the following six areas:

1) Loans to individuals and households for home retrofitting
2) Loans to business/commercial enterprise for retrofitting
3) Retrofitting and greening of public infrastructure
4) Public transit and transportation infrastructure
5) Loans to support fleet conversions
6) Green Technology Fund

“Gordon Campbell invests in offshore financiers and privatization schemes. I have a new vision. I want to see new investment in every corner of our province, creating opportunities in the new green economy for business and job growth,” said James. “Our plan does that, and it offers ordinary British Columbians and investors alike a safe, sound investment in troubled times.”

David Levi, founder of the Working Opportunity Fund said the B.C. Green Bond will provide a safe investment that funds a key area of the emerging economy.

“As the manager of a venture capital fund focused on the knowledge economy, I know the public is looking for safe investments linked to future opportunities that are green, and knowledge based,” said Levi. “The B.C. Green Bond does that. That’s why I support and encourage this proposal.”

NDP environment critic Shane Simpson said the B.C. Green Bond investments will do far more to reduce greenhouse gases than the Premier’s pet gas tax. “This plan offers real investments that will reduce greenhouse gases by 9.975 million tonnes over ten years,” said Simpson. “Replacing old GHG intensive infrastructure, investing in new cutting edge industrial technology – these are the real changes we need to make to fight climate change.”

Disclaimer: I am not a member of the NDP – nor have I been voting for them in recent elections. I just happen to think this os not a bad idea. Not he whole solution to every problem of course but a small step in the right direction

Written by Stephen Rees

February 13, 2009 at 12:18 pm

One Response

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  1. Wilderness Committee Lauds Green Bonds Plan
    “A Great Next Step in the Race to the Top on Climate Policy”

    Vancouver, BC – “The NDP’s proposal to issue $10 Billion in Green
    Bonds to generate funds to invest in public transit, home retrofits,
    and research and development is very encouraging,” said Healthy
    Communities Campaigner Ben West. “The proposal represents a a great
    next step in the race to the top on climate policy. This is the kind
    of investment BC needs to stimulate action on climate change instead
    of spending on our money on a race to the bottom that will actually
    make things worse.”

    The Green Bonds proposal was released yesterday, and calls for $1
    Billion a year for 10 years in green spending. NDP environment critic
    Shane Simpson says the project would generate 150,000 jobs over 10
    years and reduce 9.975 million tonnes of greenhouse gas emissions by
    2020.

    “We would still like to see the NDP change their tune on the
    carbon tax which is an important piece of an overall plan to address
    the climate crisis but this proposal addresses many of the practical
    steps that are also needed such as immediate investment in transit.
    While we still have a long way to go, the carbon tax and climate
    budget were steps in the right direction, and this proposal would take
    us further in the right direction,” said West.

    Last year the Liberals’ carbon tax was greeted with praise by the
    Wilderness Committee but their proposed Gateway highway mega-project
    has been an ongoing source of concern in terms of its climate change
    implications. A report released by the Livable Region Coalition shows
    that, if constructed, the Gateway project would increase carbon
    emissions in the region by approximately 30% yet the BC Liberals have
    committed to a 33% reduction of emissions by 2020. The NDP has raised
    concerns about gateway but have not clearly stated that they would
    cancel the project if elected.

    “There has been a lot of talk about investing in ‘shovel ready’
    projects yet there seems to be little consideration of the
    implications for people or the environment. It is a promising sign
    that the NDP seems to be recognizing that we can create thousands of
    jobs by investing strategically in green jobs and ‘shovel worthy’
    projects. Investment in public transit and help for homeowners that
    want to be more energy efficient is the kind of investment helps
    everyone do their part in fighting climate change regardless of
    income,” said West.

    The Wilderness Committee looks forward to the next leg of the race to
    the top and hopes all elected officials will continue to bring forward
    climate friendly policy. “The logical next step would be for all
    elected officials to focus on redirecting support away from carbon
    intensive activities like the Gateway Project.” said West.

    Stephen Rees

    February 13, 2009 at 6:55 pm


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