BC Budget 2022 Consultation Recommends Increased Geoscience BC Funding

Vancouver, BC – November 25, 2021 – An all-party committee has recommended increased provincial funding for Geoscience BC’s public and independent earth science research in a 2022 budget consultation report.

The BC Select Standing Committee on Finance and Government Services released its Report on the Budget 2022 Consultation on November 15, 2021. In the report, the Committee referred to the return on investment from Geoscience BC funding and its role in identifying potential mineral deposits, electrification and decarbonization.

Commenting on the report, Geoscience BC President and CEO Gavin C. Dirom said: “I would like to thank the BC Select Standing Committee on Finance and Government Services and our partners for their support and very clear recommendations. We look forward to continuing positive discussions with both provincial and federal governments about Geoscience BC’s public minerals, energy and water geoscience research, and the role it plays in the transition to a net-zero emission economy, to attracting investment and to sparking innovation.”

In its Report on the Budget 2022 Consultation, the BC Select Standing Committee on Finance and Government Services makes several references to Geoscience BC, including:
• Page 7: “They also support electrification and decarbonization efforts, and funding for Geoscience BC.”
• Page 32: “The Association for Mineral Exploration, along with Geoscience BC, advocated for increased funding for public geoscience. Geoscience BC stated that the progression to a lower carbon economy is forecast to increase demand for BC's natural resources and with it the need for quality geoscience to make well-informed decisions about mineral, energy, and water resources, and that investments in geoscience provides economic returns through mineral exploration. The Association for Mineral Exploration similarly noted that foundational public geoscience provides mineral explorers with basic information on where to find rare and hidden mineral deposits, and also plays a vital role in modernizing land use decisions.”
• Page 35: “They agreed that Geoscience BC does important work as a precursor to major mines and has a significant return on investment while also providing for well-paying jobs in rural and remote parts of the province. As such, they recommended increased funding for Geoscience BC.”
• Pages 36 and 99: “Increase funding for Geoscience BC”.

Geoscience BC has sent submissions requesting funding in the 2022-23 fiscal year as part of both the federal and provincial budget consultation processes:
• Federal submission: Geoscience BC Submission to House of Commons Standing Committee on Finance
• Provincial submission: Geoscience BC Submission to Select Standing Committee on Finance & Government Services

The BC Select Standing Committee on Finance and Government Services’ Report on the Budget 2022 Consultation report is available here.

About Geoscience BC
Geoscience BC generates independent, public geoscience research and data about British Columbia’s minerals, energy and water resources. This advances knowledge, informs responsible development, encourages investment and stimulates innovation.

Our collaboration with the resource sectors, academia, communities, Indigenous groups and government develops and shares unbiased and credible earth science research and data. Geoscience BC is a not for profit society incorporated under the BC Societies Act.

Visit www.geosciencebc.com or follow us @GeoscienceBC to find out more.

For more information, please contact:
Richard Truman
Geoscience BC