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Crofton mill gets workers back on the job with provincial, federal funding

January 20, 2023 9:05 AM
Photo of mill workers 
Text reads: Support workers in Crofton
More than 100 jobs will resume at Paper Excellence’s Crofton Mill facility, resulting from a partnership and funding from the provincial and federal governments, as the mill retools to manufacture new pulp products that reduce the need for single-use plastics.
  Read More

Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
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close menu Agriculture and Food

Supporting B.C. jobs, food security through agritech

January 26, 2023 11:30 AM
Four B.C. businesses that are developing solutions to help ensure the province’s food systems remain secure, resilient and sustainable are the first to receive funding through the recently launched B.C. Centre for Agritech Innovation (BCCAI).
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Planning underway for new B.C. plant and animal health lab

January 26, 2023 9:45 AM
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New premier delivers action to expand housing supply within first days

November 21, 2022 10:43 AM
New premier delivers action to expand housing supply within first days
To help deliver more good homes for people, the Province is introducing new laws to build the homes people need, make it possible for homes that are vacant to be rented and remove discriminatory age and rental restrictions in stratas that hurt young families.
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Increased funding for Human Rights Tribunal will make justice more accessible

January 4, 2023 10:00 AM
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Operators announced for pilot family connections centres

January 5, 2023 9:30 AM
Families of children and youth with support needs can soon access supports and services through newly established pilot family connections centres in four B.C. communities.
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First rent supplements begin for youth from care in B.C.

December 21, 2022 8:30 AM
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Access to high-speed internet available in Ruth Lake, Deka Lake in time for holidays

December 22, 2022 10:00 AM
More than 700 households in the Deka Lake and Ruth Lake communities can now access quality, reliable high-speed internet with the completion of a fibre-to-the-home network.
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Streamlined registry services make B.C. businesses easier to operate

November 24, 2022 1:30 PM
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B.C. launches anti-racism action plan for K-12 students

January 23, 2023 11:15 AM
Anti-racism action plan for more inclusive schools in B.C.
Empowering students and educators to identify and take action against racism and discrimination in British Columbia schools is the aim of a new provincial K-12 Anti-Racism Action Plan launched on Monday, Jan. 23, 2023.
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Students learning in new classrooms at Dover Bay Secondary

January 18, 2023 10:00 AM
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Large-scale emergency exercise simulates Lower Mainland earthquake

February 3, 2023 2:30 PM
Large-scale emergency exercise simulates Lower Mainland earthquake
The Province and Public Safety Canada are kicking off a large-scale emergency preparedness training exercise in British Columbia with a simulated alert sent to Exercise Coastal Response 2023 participants.
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Communities benefit from disaster risk reduction and climate adaptation funding

February 3, 2023 12:10 PM
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Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
Watch the Province and Blueberry River First Nations reach an agreement
The B.C. government and Blueberry River First Nations have reached a historic agreement that will guide them forward in a partnership approach to land, water and resource stewardship that ensures Blueberry River members can meaningfully exercise their Treaty 8 rights, and provide stability and predictability for industry in the region.
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Remote First Nations communities advance clean-energy projects

January 16, 2023 11:30 AM
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close menu Environment and Climate Change Strategy

Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
Watch the Province and Blueberry River First Nations reach an agreement
The B.C. government and Blueberry River First Nations have reached a historic agreement that will guide them forward in a partnership approach to land, water and resource stewardship that ensures Blueberry River members can meaningfully exercise their Treaty 8 rights, and provide stability and predictability for industry in the region.
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Province adds more items to B.C.’s recycling system

January 6, 2023 8:30 AM
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New protections in place for homebuyers in B.C.

January 3, 2023 9:30 AM
New protections in place for homebuyers in B.C.
Homebuyers in B.C. now have better protection in the real estate market as the homebuyer protection period takes effect on Tuesday, Jan. 3, 2023.
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Help with costs arrives for British Columbians

January 5, 2023 9:00 AM
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Crofton mill gets workers back on the job with provincial, federal funding

January 20, 2023 9:05 AM
Photo of mill workers 
Text reads: Support workers in Crofton
More than 100 jobs will resume at Paper Excellence’s Crofton Mill facility, resulting from a partnership and funding from the provincial and federal governments, as the mill retools to manufacture new pulp products that reduce the need for single-use plastics.
  Read More

Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
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Nurses receive support to join B.C.’s health system more quickly

January 9, 2023 12:46 PM
Photo of a nurse and her patient. Text reads: Helping more nurses practice in BC, faster
The Province is making it easier for internationally educated nurses to work in B.C.’s health-care system with new financial supports and a faster, more efficient assessment pathway.
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Province provides update on respiratory illness season

January 13, 2023 12:55 PM
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New permitting strategy will help build homes faster

January 16, 2023 9:48 AM
New permitting strategy will help build homes faster
The Province is taking another step to tackle the housing crisis by creating a one-stop-shop approach to provincial permitting to help speed up approvals and construction to build more homes.
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New fund will protect thousands of renters in B.C.

January 12, 2023 10:45 AM
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close menu Indigenous Relations and Reconciliation

Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
Watch the Province and Blueberry River First Nations reach an agreement
The B.C. government and Blueberry River First Nations have reached a historic agreement that will guide them forward in a partnership approach to land, water and resource stewardship that ensures Blueberry River members can meaningfully exercise their Treaty 8 rights, and provide stability and predictability for industry in the region.
  Read More

Huu-ay-aht First Nations, Province partner to create Oomiiqsu Mother Centre

November 8, 2022 2:15 PM
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Nominate an exceptional citizen for B.C.’s highest honour

January 6, 2023 9:30 AM
Nominate an exceptional citizen for B.C.’s highest honour
Nominations are being accepted for the Order of British Columbia, the Province’s highest honour.
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Fifteen British Columbians honoured for dedication to service

December 5, 2022 10:30 AM
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Crofton mill gets workers back on the job with provincial, federal funding

January 20, 2023 9:05 AM
Photo of mill workers 
Text reads: Support workers in Crofton
More than 100 jobs will resume at Paper Excellence’s Crofton Mill facility, resulting from a partnership and funding from the provincial and federal governments, as the mill retools to manufacture new pulp products that reduce the need for single-use plastics.
  Read More

New jobs fund will support employment, resilient economies

January 17, 2023 2:05 PM
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close menu Labour

Reminder to have your say about app-based ride-hailing, food-delivery work

January 3, 2023 9:00 AM
Time is running out to share your thoughts about app-based ride-hailing and food-delivery work in B.C.
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Farm workers who hand-harvest crops get rate increase Jan. 1

December 29, 2022 9:00 AM
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B.C. takes action to save lives, build new connections of care with drug decriminalization

January 30, 2023 10:38 AM
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The Province is taking a critical step to end the shame and stigma that prevents people with substance-use challenges from reaching out for life-saving help as B.C.’s decriminalization of people who use drugs comes into effect on Tuesday, Jan. 31, 2023.
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Richmond offers integrated mental-health, substance-use supports for young people

January 12, 2023 12:00 PM
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Province cancels student health fee for people fleeing war in Ukraine

December 19, 2022 5:15 PM
On Dec. 19, 2022, the government enacted the Canada-Ukraine Authorization for Emergency Travel International Student Health Fee Remission Regulation.
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Grants for Lower Mainland non-profits improve arts, culture, sports access

December 8, 2022 9:24 AM
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B.C. trains more paramedics for emergency health care

February 2, 2023 1:30 PM
B.C. trains more paramedics for emergency health care
British Columbians will have improved access to emergency health services as the Province invests approximately $2 million into expanding paramedic training programs in communities around the province.
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Skills Roadmap helps people in the mining sector

January 20, 2023 8:00 AM
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ICBC files for no increase to basic insurance rates for two more years

December 12, 2022 10:19 AM
ICBC files for no increase to basic insurance rates for two more years
Government reforms to ICBC are paying off with affordable, steady rates and fiscal stability for people.
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Review highlights B.C.’s strong pandemic response, opportunities for enhancement

December 2, 2022 1:15 PM
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close menu Social Development and Poverty Reduction

Funding Indigenous-led non-profits a step toward reconciliation

February 3, 2023 3:35 PM
Funding Indigenous-led non-profits a step toward reconciliation
Approximately $5 million in grants have been committed to 23 Indigenous-led non-profit organizations from the Indigenous Resilience and Recovery Grant Initiative.
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Medical lab assistant training opens doors to in-demand jobs

January 30, 2023 8:30 AM
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Fifteen British Columbians honoured for dedication to service

December 5, 2022 10:30 AM
Fifteen British Columbians honoured for dedication to service
The Government of B.C. has selected 15 British Columbians to receive the Medal of Good Citizenship for their dedication and selfless service to their communities.
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Province supports inclusive, diverse arts sector with $2.7 million

December 15, 2022 1:30 PM
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New funding supports more accessible taxis

February 1, 2023 11:15 AM
New funding supports more accessible taxis
British Columbians who use wheelchairs or have other accessibility needs will soon see more accessible taxis on the road with the launch of the Passenger Transportation Accessibility Program (PTAP).
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Safety improvements ahead for Highway 5A

January 20, 2023 1:05 PM
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Province, Blueberry River First Nations reach agreement

January 18, 2023 2:39 PM
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The B.C. government and Blueberry River First Nations have reached a historic agreement that will guide them forward in a partnership approach to land, water and resource stewardship that ensures Blueberry River members can meaningfully exercise their Treaty 8 rights, and provide stability and predictability for industry in the region.
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January 16, 2023 9:48 AM
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Finance

North Island Hospitals Project green bond issue a first

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Honourable Katrine Conroy

Honourable Katrine Conroy

Minister of Finance and Minister responsible for Columbia Basin Trust, Columbia Power Corporation, and the Columbia River Treaty

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New protections in place for homebuyers in B.C.

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Finance

British Columbia News

North Island Hospitals Project green bond issue a first

https://news.gov.bc.ca/06482

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News Release

Victoria
Wednesday, July 2, 2014 8:30 AM

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News Release

Victoria

Wednesday, July 2, 2014 8:30 AM

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A green bond has been issued to finance the North Island Hospitals Project, Minister of Finance Michael de Jong announced today.

This is the first time a green bond has been used to fund a public-private partnership project in North America and the first time a green bond has been issued to finance public infrastructure in Canada. The 32.3-year bond was issued by Tandem Health Partners, the consortium delivering the North Island Hospitals Project, and raised about $231.5 million.

The issue was oversubscribed by investors attracted by the strength of B.C.’s triple-A credit rating as B.C. is the provider of annual service payments to Tandem Health Partners. Buyers were well distributed across insurance companies and fund managers, with both traditional buyers of public-private partnership project bonds participating as well as a number of new buyers. This successful issuance allows B.C. to provide leadership in a new and emerging green bond market in Canada.

Tandem Health Partners will deliver the North Island Hospitals Project including a new hospital in Campbell River and a new hospital in the Comox Valley. The hospitals will result in quality patient care delivered in modern acute care facilities for North Island residents.

The North Island Hospitals Project has been assessed as green by Altus Group Limited (Altus Group), an industry-respected consultant and technical advisor for public- and private-sector infrastructure projects. The B.C. government set the technical criteria for the development of the North Island Hospitals Project. The technical criteria, which include LEED gold certification, energy and greenhouse gas targets, along with the B.C. Climate Action Plan, provided the foundation to classify the project as green.

In April 2014, Tandem Health Partners was named the selected proponent for the North Island Hospitals Project. Negotiations followed and a fixed-price contract agreement to design, build, partially finance and maintain the new hospitals has been signed by Island Health and Tandem Health Partners. The agreement comes after three pre-qualified proponents were shortlisted in April 2013 for the Request for Proposal stage of the competitive bid process. An extensive evaluation of proposals resulted in Tandem Health Partners named as the selected proponent.

The $606.2-million North Island Hospitals Project is being cost-shared by the Province (60 %) and the Comox Strathcona Regional Hospital District (40 %).

A copy of the third-party report done by the Altus Group is available by contacting: lana.letoshko@altusgroup.com

Quotes:

Michael de Jong, Minister of Finance −

“B.C. is a national and global leader in delivering public infrastructure in a way that provides an attractive market for business, while protecting taxpayers from cost overruns or scheduling delays. Green bonds are just one more example of how B.C. is leading the way in developing innovative ways to help fund public infrastructure, adding another dimension of social and environmental responsibility for projects.”

Terry Lake, Minister of Health −

“Government has set the bar high for LEED Gold certification with these two hospitals, and we’re ensuring that they meet stringent energy-efficient qualifications including targets for energy reduction and greenhouse gas emissions. With these requirements, this project is supporting environmental sustainability, and at the same time, ensuring the best care for families living on the North Island now, and well into the future.”

Matt Dekkers, vice-president, Tandem Health Partners −

“We are delighted to be selected by the government of British Columbia to work in partnership with Island Health to deliver this important project in the North Vancouver Island communities of Comox Valley and Campbell River. Working collaboratively with all interested stakeholders, Tandem Health Partners looks forward to the successful completion of these hospitals which will provide first rate health care services to support the communities of North Vancouver Island.”

Sean St. John, executive vice-president, co-head and MD, fixed income, National Bank−

“National Bank Financial was privileged to act as lead underwriter on the first green public-private partnership bond issued in North America. In particular, we were very pleased to be able to assist the Province of British Columbia in achieving recognition of green principles that are built into the requirements on the North Island Hospitals Project.”

Quick Facts:

  • The new Comox Valley hospital will have capacity for 153 beds and be built near the corner of Lerwick and Ryan roads in Courtenay.
  • The Comox Valley work will create approximately 1,000 direct jobs and over 750 indirect jobs in industries supplying goods and services used in construction.
  • The new Campbell River hospital will have 95 beds and be built at the existing hospital site on the corner of 2nd Ave. and Birch St.
  • The Campbell River work will create approximately 900 direct jobs and over 650 indirect jobs in industries supplying goods and services used in construction.
  • Both new hospitals will continue to provide the same acute-care services currently being delivered at the Campbell River and Comox Valley hospital sites.
  • Construction will begin in July 2014 with both hospitals ready for patient move-in by late 2017.

The Tandem Health Partners team includes:

  • Balfour Beatty Investments LP
  • Gracorp Capital Advisors Ltd.
  • Connor Clark & Lunn GVest Traditional Infrastructure LP
  • Graham Design Builders LP
  • Farmer Construction Ltd.
  • Stantec Inc.
  • Blue Cottage Consulting
  • Honeywell International Inc.
  • Balfour Beatty Communities.

Underwriters:

  • National Bank Financial
  • Bank of Nova Scotia

Learn More:

NIHP website: http://nihp.viha.ca/

Partnerships BC: http://www.partnershipsbc.ca

A backgrounder follows.

Media Contacts:

Glen Plummer
Media Relations
Ministry of Finance
250 387-3514

Kristy Anderson
Media Relations Manager
Ministry of Health
250 952-1887 (media line)

Matt Dekkers
Vice-president
Tandem Health Partners
403 570-5037
mdekkers@gracorpcapital.com

Jean-François Cadieux
Chief Advisor, Public Affairs
National Bank of Canada
514 394-6500
jean-francois.cadieux@bnc.ca

BACKGROUNDER

Green bonds: investments with a green conscience

  • Green bonds are similar to traditional bonds, but the proceeds are used exclusively for projects with environmental benefits.
  • Examples of green bond eligible projects are renewable energy projects, wastewater treatment or energy-efficient buildings.
  • Green bonds were first introduced in 2008 by the World Bank.
  • The global market for green-labelled bonds has been steadily growing and is expected to reach $25 billion in 2014. Bank of America estimates market growth of up to $40 billion in 2014 as the market had already reached $13 billion as of June 2014.
  • Current international green bond issuers include the World Bank, International Finance Corporation, European Bank for Reconstruction and Development, European Investment Bank, and State of Massachusetts.
  • In January 2014, a consortium of internationally recognized global banks outlined principles for green bonds. The North Island Hospitals Project green bond conforms to all the green bond principles outlined in the document, which is available here: http://www.ceres.org/resources/reports/green-bond-principles-2014-voluntary-process-guidelines-for-issuing-green-bonds/view.

Green bonds in Canada:

  • The North Island Hospitals Project green bond will be the first green bond for a public-private partnership project in North America and the first green bond for public infrastructure in Canada.
  • The green bond market is in the early stages of development in Canada.
  • Export Development Canada issued Canada’s first USD green bond in January 2014, while TD Bank issued the first CAD green bond from a bank in March 2014.
  • The Province of Ontario plans to launch a multi-year green bond program this year. Some private-sector renewable energy projects in Ontario and Quebec have been funded by green bonds.

Media Contacts:

Glen Plummer
Media Relations
Ministry of Finance
250 387-3514

Kristy Anderson
Media Relations Manager
Ministry of Health
250 952-1887 (media line)

Matt Dekkers
Vice-president
Tandem Health Partners
403 570-5037
mdekkers@gracorpcapital.com

Jean-François Cadieux
Chief Advisor, Public Affairs
National Bank of Canada
514 394-6500
jean-francois.cadieux@bnc.ca

https://news.gov.bc.ca/06482

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