Coast Opportunity Funds was established in 2007, but the efforts that went into its creation go back many years before that.
Clicke here to read a more detailed history behind the creation of Coast Opportunity Funds: From Conflict to Collaboration: The Story of the Great Bear Rainforest.
It has long been recognized that the Project Area contains extraordinary and significant wildlife and other natural resources worthy of protection and that for thousands of years, First Nations have carefully managed those resources, both on land and at sea, based on traditional knowledge and culture. In maintaining a sustainable balance in the use of the resources to support their way and quality of life, First Nations have always successfully harvested natural resources without depleting them.
Significant portions of the Project Area have suffered from industrial exploitation over the last 150 years, putting at risk both the ecological integrity of the region and the way of life of the First Nations who live there and use its resources. As resources and land started to become depleted, the potential for conflict between its users – to the detriment of the land, water, resources and people who use them – was high.
Conservation Goals
Beginning in the late 1990s, North Coast First Nations, environmental groups, private conservation foundations and the federal government therefore began exploring innovative ideas to avoid conflict and instead find a “win-win” solution to meet conservation goals, and in particular how conservation funding could be attracted to the region to help protect it.
Everyone involved was in agreement that it would only be through successful partnering and collaboration with First Nations communities that viable solutions would be found. As discussions continued, more First Nations joined in, as did the provincial government.
Vision for Conservation
With ongoing conversations between these groups and determined effort, a vision was developed to attract funding for conservation based on the agreement of the Participating First Nations to help establish land areas under provincial government protected area status. The amount of funding would be linked to the size and conservation values of the protected areas.
Vision for sustainable development: Discussions also naturally turned to how the conservation funding commitments could be used to attract funding for sustainable economic development for the Participating First Nations communities to support their ongoing use of the region’s resources.
It was recognized that sustainable economic development is a vital part of sustaining the wellbeing of the communities. Integral to that is respect for First Nations’ traditional cultural values in sustainable development, based on respect for land, resources, water and wildlife.
Creation of Funds
This culminated in the groundbreaking signing of historical land use agreements with Participating First Nations in the Project Area and the establishment of Coast Opportunity Funds in 2007, comprising the Conservation Fund and the Economic Development Fund. Over the course of the following year the Board of Directors developed a strategic plan and set five-year goals for the Funds. In the fall of 2008 Chief Executive Officers of both Funds were appointed and the first funds started flowing to projects in late 2008.
Click here to read the Government of Canada's news release on the creation of Coast Funds, and here to read the BC Government's vision for coastal BC.