Victoria Foundation Empowers 199 Organizations with $4.9M in Aid

The Victoria Foundation's Community Grants Program has announced a substantial distribution of $4.9 million to aid 199 organizations in the capital region. The 2023 program implemented two grant streams – the Vital Stream, funding up to $30,000 per request, and the Collaboration Stream, which provided variable amounts to promote systemic issue address and increased non-profit sector efficiencies via partnerships and networking. This funding announcement follows the release of the foundation's latest State of the Sector report, "Safety Net," revealing themes of organizations struggling with staffing concerns, cost uncertainty and a hopeful yet unclear future.

One prominent area of focus within the capital region is housing, a significant issue underscored by the 2022 Vital Signs report. The Quadra Village Community Centre Housing Outreach Program was among the beneficiaries, enabling them to provide one-to-one housing support for individuals and couples needing secure housing.

Camosun Launches Indigenous Community Wellness Program

Camosun College is charting a new course in education by introducing the Indigenous Community Wellness program. Starting in fall 2023, the 10-month program will be delivered at the Saanich Adult Education Centre, nestled within the Tsartlip First Nation and offers flexible full or part-time study options.

Targeted at Indigenous learners, this certificate program aims to equip students with the knowledge and skills to champion health and wellness within Indigenous communities.

MNP Report Reveals Over Half of Canadians $200 Away or Less from Missing bill Payments

A report from the accounting firm MNP highlights a rising financial strain for Canadians. More than half of the respondents (52%) revealed that they are $200 or less away from being unable to meet their monthly bills. This figure shows a significant increase from April when 46% of Canadians were in a similar predicament. Reasons include the climbing cost of living and higher interest rates.

MNP's Consumer Debt Index also declined, dropping from 89 points last quarter to 83 in its latest assessment. Canadians are expressing more concerns about their personal finances and mounting debt. The report also uncovered that 35% of respondents struggle to cover their bills and debt payments, marking a new high for the survey.

Harbour Air’s ePlane Makes First Landing into Victoria Harbour

Harbour Airs' all-electric ePlane recently made its first appearance at the Inner Harbour. This marks a major milestone in the advancement of all-electric flights and signifies the farthest the ePlane has travelled from its home base in Richmond.

Harbour Air began its ePlane project in 2019 and has since completed 25 hours of flight time over 74 flights. Each test flight provides valuable data critical to the certification process. The historic de Havilland Beaver plane was retrofitted in 2019 to operate using 100 percent electricity on its maiden flight flew 72 kilometres in 24 minutes.

What We're Reading

Climate Change Worry Reshaping Investment Landscape among Young Canadians

According to a recent Ipsos study, the threat of environmental disaster due to insufficient measures to address climate change raises concerns for 73% of Canadians.

Mounting anxiety over climate change also influences younger generations and their investment strategies. As per a recent survey by BNN Bloomberg and RATESDOTCA, 60% of homeowners under age 34 are rethinking their living locations to avoid areas prone to extreme weather events triggered by climate change.

Young Canadians prefer eco-conscious investment options, leading the way in the growth of ESG-conscious investing, which considers the company or fund's environmental, social and corporate governance impact. According to Ipsos, 71% of Canadians aged 18 to 34 confirm that ESG plays a significant role in their purchasing decisions and investment strategies. Unlike previous generations, Gen Z is leaping to invest earlier, with a quarter of Canadian Gen-Zers starting to invest before turning 18.

B.C. Climate Solutions Receive $900K Boost from the Pacific Institute for Climate Solutions

Five BC research teams have received funding from the Pacific Institute for Climate Solutions (PICS) to accelerate climate action worth $900K, from urban tree cooling to creating products from air pollution.

Teams from the University of Victoria, University of British Columbia and the University of Northern British Columbia will each receive $180,000 over three years through the Opportunity Projects Program. The program funds research on high-impact climate mitigation or adaptation solutions. In each project, academic researchers work in a team with non-academic partners eager to use the research results to take positive action.

Sooke Approves Landmark $34-Million Senior Housing Complex

The future of senior living in Sooke just made a significant leap as the district council approved a $34-million affordable housing project for the elderly. This six-story complex, proposed by the Sooke Region Communities Health Network (SRCHN), promises 75 units – 17 fully accessible commercial spaces and a community center dubbed "The Gathering Place."

SRCHN is also proactively seeking additional federal and provincial funding and has launched a $2-million fundraising campaign. The District of Sooke has already supported this vital initiative, contributing $250,000 towards the project.

Did You Know?

The Bank of Canada on Wednesday hiked its rate by a quarter of a percentage point to a 22-year high of 5.0%. – Reuters

News from the SIPP Ecosystem

COAST

Sea to Shore – Podcast Features Blue Tech Solutions to Coastal Challenges

Our oceans have taken the brunt of human-driven climate change, absorbing up to 90 percent of the heat generated by global warming. The resulting rise in sea levels, marine heatwaves, ocean acidification and coastal storms and erosion is driving marine biodiversity loss and affecting the livelihoods of communities along B.C.’s coastline.

COAST Talks explores today’s ocean challenges and examines how ocean tech companies provide solutions.

Panelists:

Ranah Chavoshi, PhyCo Technologies
Thomas Storwick, Coastal Carbon AI
Joshua Charleson, Coastal Restoration Society

Watch

Explore Regenerative Farming Efforts in Saanich with CHEK News

In the last 150 years, more than half the world's upper levels of topsoil have disappeared due to intensive farming practices. This affects not only our food supply but also our economy.

This month's Rising Economy spotlight on CHEK News highlights the Sandown Centre for Regenerative Agriculture in North Saanich, where a team of farmers, scientists and volunteers work to restore the soil.

Watch