Public Interest Bonding Strategy for environmental accountability

An example of how the province is strengthening environmental accountability is the Public Interest Bonding Strategy.

The Public Interest Bonding Strategy aims to put policies in place to ensure industry funds are available for decommissioning and closure of industrial projects, while supporting industry production and investment.

The Ministry of Environment and Climate Change Strategy is currently developing a new regulatory framework for the Public Interest Bonding Strategy. The strategy’s guiding principles act as key criteria in the framework’s development.

• Polluter pays
• Uphold the Declaration on the Rights of Indigenous Peoples Act
• Risk-based approach
• Maintain industry competitiveness and financial viability
• Reduce and mitigate environmental risk
• Transparent and accountable decisions
• Consistent, compatible and fair decision-making

The regulatory framework will rely on laws and regulations to govern decommissioning and closure of industrial projects in British Columbia. In November 2023, Bill 29 – Environmental Management Amendment Act, was passed to provide the authority to require industry owners to prepare decommissioning and closure plans and provide financial security for high-risk industrial projects. These powers will come into force once the regulatory framework is implemented.

Decommissioning and closure plans ensure that responsible parties have plans for closure and cleanup of high-risk sites while financial security, such as a bond, may be required to ensure plan obligations are fulfilled.

The Public Interest Bonding Strategy’s regulatory framework will apply to new (future) and existing active industrial projects authorized to discharge waste to the environment under the Environmental Management Act. It will not apply to facilities that are already closed. Major mines must provide financial security under the Reclamation Security Policy as a condition of their Mines Act Permit.  

Project status

The strategy is a multi-year project with ongoing engagement opportunities. The project team is working with Indigenous Peoples, industry, non-governmental organizations and the public in engagement and cooperation.

The Ministry of Environment and Climate Change Strategy engaged on a 2024 Intentions Paper (PDF, 2MB) and a 2022 Discussion Paper (PDF, 460KB).

Please visit the Public Interest Bonding Strategy’s GovTogetherBC webpage to review the papers, learn more about the engagement process, and view engagement results.