{"id":65441,"date":"2024-11-28T10:04:39","date_gmt":"2024-11-28T18:04:39","guid":{"rendered":"https:\/\/energi.media\/?p=65441"},"modified":"2024-11-28T10:04:39","modified_gmt":"2024-11-28T18:04:39","slug":"community-wealth-building-advances-canadas-net-zero-transition","status":"publish","type":"post","link":"https:\/\/energi.media\/news\/community-wealth-building-advances-canadas-net-zero-transition\/","title":{"rendered":"Community wealth building advances Canada\u2019s net-zero transition"},"content":{"rendered":"

This article was published by The Energy Mix<\/a> on Nov. 28, 2024.<\/em><\/p>\n

By Gaye Taylor<\/strong><\/em><\/p>\n

Community wealth building is the key to making Canada\u2019s energy transition an inclusive project rooted in the local, rather than a technocratic solution disengaged from people\u2019s everyday lives, say sustainability experts and practitioners.<\/p>\n

\u201cLocal ownership, democratic control, and a balanced distribution of wealth\u201d are the key components of\u00a0community wealth building<\/a>, which should play \u201ca critical role in advancing Canada\u2019s net-zero objectives,\u201d\u00a0\u00a0write<\/a>\u00a0Martin Boucher, research chair of sustainability at NorQuest College in Edmonton, and Max Lacey-Barnacle, research fellow in just transitions at the University of Sussex (UK), in a recent article in Policy Options.<\/p>\n

As Canada moves forward on its net-zero emissions goals, important financial scaffolding is in place, including \u201c$964 million for renewable energy and grid modernization projects and $14.9 billion for public transit projects, including zero-emission transit vehicles,\u201d the two sustainability experts write.<\/p>\n

However, ensuring that the energy transition translates into fully inclusive, resilient, sustainable communities remains a challenge.<\/p>\n

\u201cDespite some clear overlaps, net-zero initiatives and community wealth building often operate in silos,\u201d the authors warn, adding that \u201can integrated approach\u201d is key to achieving both objectives.<\/p>\n

The pressing need to build community wealth is reflected in the Salvation Army\u2019s annual\u00a0Canadian Poverty and Socio-Economic Analysis<\/a>, published in September, which found one in four parents testifying that they eat less so that their children or other family members get enough. Within this group, 90 per cent said they had to cut back on groceries to pay other bills, and 85 per cent said they were buying less nutritious food because it was cheaper.<\/p>\n

\u201cWhile not yet a household term among policymakers,\u201d the driving principle behind community wealth building is \u201cstraightforward,\u201d Boucher and Lacey-Barnacle write.<\/p>\n

\u201cRather than relying on external investments or top-down economic development, [the] approach emphasizes the importance of locally-rooted structures such as cooperatives, social enterprises, businesses, and anchor institutions like colleges and\u00a0universities<\/a>,\u00a0local government<\/a>, and\u00a0hospitals<\/a>.\u201d<\/p>\n

Community bonds are an essential instrument in severing local reliance on external funding. These interest-bearing loans issued by non-profits to fund local projects are slowly \u201cgaining traction\u201d in Canada, especially in the affordable housing sector,\u00a0reports<\/a>\u00a0CBC News.<\/p>\n

Habitat for Humanity Guelph Wellington in southwestern Ontario used the model to raise roughly $4.5 million for two affordable housing projects. The first, a 32-unit townhouse project, broke ground about a year ago, The Canadian Press\u00a0reported<\/a>\u00a0at the time.<\/p>\n

While community wealth builds communities in a very bricks-and-mortar sense, the financing model also works in more subtle ways to stitch a neighborhood, and surrounding neighborhoods, together.<\/p>\n

\u201cWith the high cost of living\u2014and with fewer Canadians donating to charity\u2014asking supporters to buy a bond can be easier than asking them to make a cash donation,\u201d writes the CBC.<\/p>\n

Ryan Collins-Swartz, co-executive director at Toronto-based\u00a0Tapestry Community Capital<\/a>, a not-for-profit that helps other non-profits set up community bond campaigns, told CBC the under-40 demographic to which he belongs doesn\u2019t typically have a lot of cash for charitable donations.<\/p>\n

\u201cBut with a little bit of money that we have saved up, we\u2019re looking to be allies to causes and social movements and things that we believe in.\u201d<\/p>\n

Fully realizing the efforts of local development organizations to advance the energy transition as a social movement\u2014one that integrates net-zero efforts with efforts to build community wealth\u2014will require \u201ccomprehensive policy support\u201d at both federal and provincial levels, write Boucher and Lacey-Barnacle.<\/p>\n

Measures to \u201cformally harmonize\u201d Canada\u2019s net-zero policies with community wealth building \u201ccould include streamlined permitting for community-scale renewable energy installations and financial incentives for community investment,\u201d they add.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This article was published by The Energy Mix on Nov. 28, 2024. 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