Watershed security funding is trickling out. We will need a torrent to futureproof our rivers, lakes and forests.
The BC Wildlife Federation (BCWF) and its partners have assessed and restored dozens of wetlands, rebuilding the natural infrastructure that kept our watersheds in balance for millennia.
Natural, low-tech solutions are fast becoming a viable alternative to pipes, concrete and pavement to mitigate drought, wildfires and flooding.
Building beaver dam analogues (BDAs) is one such innovative strategy for holding water on the landscape to regulate streamflow, creating wildlife and fish habitat, and keeping soils and forests well hydrated.
“Our watersheds look much different today compared with pre-colonial times,” said Jennifer Rogers, Beaver Restoration Assessment Lead. “We are putting it back the way that it was, by building beaver dam analogues from natural materials that provide crucial environmental services.”
BCWF’s 10,000 Wetlands project aims to build more than 100 BDAs in the coming months and years. We face two barriers to success.
First, the $100-million Watershed Security Fund announced last year is operated as an endowment to ensure long-term sustainable funding. But that also means as the endowment grows slowly grants are trickled out at just a few million dollars a year in amounts that are shared between many applicants. According to the BC Watershed Security Coalition, a $1-billion fund, supported by provincial, federal, private and philanthropic investments would provide $75 to $100 million annually, required to make real progress on healing our watersheds.
Second, we have at least six shovel-ready BDA projects ready to build this summer, but regulatory approvals have been painfully slow, in part due to the novelty of the approach in B.C. While the province’s staff are generally supportive of our work, our restoration projects share the same permitting pathway as development projects, which slows the process.
Projects such as 10,000 Wetlands use proven strategies for restoration and recovery.
“Restoring baseline conditions is our key goal,” said Rogers. “In places where beavers once thrived and kept our watersheds in balance, we can bring back what was lost and help nature heal itself.”
Beaver dams are also associated with a nine-fold increase in open-water area in wetlands, preserving functional wetland habitat even during periods of extreme drought, according to a 2008 study in Alberta.
The B.C. Wildlife Federation’s Watershed Team has a resume packed with successful wetland restoration projects and has led the field in the development of wetland assessment and management tools.
In partnership with local First Nations, the Team plans to complete restoration projects at Earl Ranch near Cranbrook, Spius Creek, Gordon Creek, and Voght Creek near Kamloops, Blowdown Creek near Whistler, and others across the province.
“We have a long list of watershed projects we’d like to deliver, and we have innovative tools that we have developed, in part with bridge funding awarded to us by the province as part of the Healthy Watershed Initiative,” said Rogers. “We just need a green light from the provincial government to get started on some really impactful projects.”
Randy Shore is a public relations and communications specialist with the BC Wildlife Federation (BCWF).
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
