New report shows practical benefits of ESG priorities

A recently released report by Deloitte shows that a profound change has happened in recent years in the way Canadian companies are prioritizing their impact on climate and social policies.

The 2024 Sustainability Action Report shows that standards set by global regulatory bodies are being considered as part of business’s risk strategies. The report also found that executives are seeing the benefits of better understanding environmental, social and governance risks and impacts.

Embracing ESG improves brand reputation as well as talent attraction and helps build trust with the companies stakeholders, the report says.

Enjoy the end of summer and support local business

The last weekend of summer should offer another welcome bump for tourism and hospitality businesses in Greater Victoria.

Rifflandia starts Friday and promises to energize our region with thousands of locals and visitors enjoying an exceptional lineup of musical acts. This is also another busy weekend for cruise ship arrivals with almost 36,000 people sailing into the city on 11 boats. The Greater Victoria Harbour Authority website shows the cruise season continues into the fall, with the last ship scheduled to arrive on Oct. 30.

The latest figures from Chemistry Consulting show hotels in Greater Victoria enjoyed a 5.4% increase in average occupancy in July compared to the same month last year. The average room rate was up $30.86.

“The weather might be starting to cool, signaling the start of sweater season but all Greater Victoria businesses extend a warm welcome to their customers,” Chamber CEO Bruce Williams said. “As always, please support your community and enjoy a great evening out at your favourite restaurant or shopping at your local retailer. It’s up to all of us to build the community we want.”

Chamber hosts final election event with Green Party leader

Green Party leader Sonia Furstenau stands with Chamber CEO Bruce Williams before yesterday's fourth and final Leading to Election event.

Green Party leader Sonia Furstenau stands with Chamber CEO Bruce Williams before yesterday’s fourth and final Leading to Election event.

The Chamber hosted the fourth and final Leading to Election event yesterday, with about 30 people enjoying breakfast and a lively Q&A with BC Green Party leader Sonia Furstenau.

Furstenau spoke about her entrepreneurial history as a university student operating a food stand at the Moss Street Market, which led to a catering enterprise. She also worked as a bookkeeper and says the experiences helped her understand the hard work and risk of running a small business. She’s taken that understanding with her into politics, noting that the private sector generates the revenue that the public sector spends.

And the way that the government spends needs to change, she said, pointing out that BC has the same budget as Denmark but delivers a lot less to its citizens.

“If we’re going to spend $89 billion, I want all the nice things,” she said, adding that Denmark has better healthcare and social security programs.

Questions raised by Chamber members included how the BC Greens would address transportation challenges and how they would support a minority government if given the opportunity.

Fursetenau said the party would learn from its past mistakes and focus on reframing the narrative of government so that British Columbians have faith it can work for them and drive innovation to support the private sector economy.

Ladysmith Mayor named new CEO of SIPP

Aaron Stone has been named the new CEO of the South Island Prosperity Partnership.

Stone, currently serving his third term as the Mayor of Ladysmith, will step down from his elected office to take on the leadership role with SIPP effective Oct. 7.

Along with serving as Ladysmith’s Mayor, Stone founded Uforik Computers. He has also been President of the Ladysmith Chamber of Commerce, Chair of the Island Coastal Economic Trust and Chair of the Cowichan Valley Regional District. He also worked for Global and the Vancouver Grizzlies.

At SIPP, Stone succeeds Emilie de Rosenroll.

SIPP began as an economic development committee of The Chamber before becoming a standalone organization.

Pre-approved housing designs available for download

The province has introduced a plan to speed up housing construction by allowing cookie cutter designs. The concept relies on “building blocks” that allow for adding elements such as a garage or bedroom. Homes can be up to three storeys.

“They include concepts for duplex, triplex, quadplex and townhouse designs. Also included are a variety of roof shapes and exterior finishes, so all the designs can blend in seamlessly with existing neighbourhoods, keeping with the intent of small-scale, multi-unit housing to add density,” the province’s media release said. “There are also designs for accessory dwelling units, such as laneway homes, and a fully adaptable cottage suitable for aging in place.”

The designs comply with the 2024 BC Building Code and can be customized for different lot sizes and specific site conditions. Designs can be downloaded at no cost.

The hope is that local governments and builders will quickly become familiar with the plans, leading to quicker approvals and construction.

Real estate summer slowdown typical for the season

Despite falling interest rates, Greater Victoria’s housing market slowed in August and the benchmark price for an “average” home in the region decreased.

A total of 545 properties sold in the Victoria Real Estate Board region this August, down 16.5% from July. The benchmark value for a single family home in August was $1,287,400, down from July’s value of $1,296,100.

“The final month of the summer is generally a rather relaxed one in terms of real estate sales and listings,” 2024 Victoria Real Estate Board Chair Laurie Lidstone said. “Many folks pause their home shopping activities or pause their sales listing to make the most of other summer activities and vacations. It’s no surprise that sales this year were so close to the sales from 2023 and that listings declined slightly from the number we saw in July.”

Bank cuts rate again this morning; more cuts coming?

As expected, the Bank of Canada reduced its target for the overnight rate to 4.25%.

The announcement, made this morning, reflects the consistent decline in inflation, which came in at 2.5% in July.

“With continued easing in broad inflationary pressures, Governing Council decided to reduce the policy interest rate by a further 25 basis points,” the bank said in its statement. “Excess supply in the economy continues to put downward pressure on inflation, while price increases in shelter and some other services are holding inflation up.”

The next rate announcement is Oct. 23, with another reduction expected.

Back to school sees changes to improve health and safety

A sure sign that summer is soon coming to a close is the sight of school kids headed back to class.

One of the big changes for students in K-12 is the new cellphone policy that aims to cut down on screen time during school hours. The policy removes the distraction of digital devices in order to help improve learning outcomes and support better mental health.

The Greater Victoria School District (SD61) began welcoming students back yesterday, as did other regional school districts as well as the University of Victoria, Camosun College and Royal Roads University.

BC’s post-secondary schools will also have a new presence on campus as the province rolls out new strategies to prevent toxic-drug poisonings.

“The toxic-drug crisis continues to have a devastating impact on families and communities in BC, and the impact on students has been heartbreaking,” BC’s Minister of Mental Health and Addictions said in a media release.

Staying safe at work, at home and at school is fundamental to enabling all of us to reach our potential. As a new school year begins, the sense of hope and optimism is palpable, serving as inspiration to keep working together to build good business and great community for all.

Songhees hosting third annual South Island Powwow

The Songhees Nation, with support from the City of Victoria, will host the third annual South Island Powwow on Sept. 30, National Day for Truth and Reconciliation, at Royal Athletic Park on the homelands of the lək̓ʷəŋən people.

Sept. 30 is a federal statutory holiday also known as Orange Shirt Day. Everyone is welcome at the Powwow and admission is free. Gates open at 10 am and the day will feature the traditional grand entry of Nations, with Indigenous song and dance, more than 80 vendors and a lineup of food trucks.

The South Island Powwow honours and recognizes survivors of the residential school system as well as those those who never made it home. The Powwow also celebrates Indigenous cultures and resiliency, and helps bridge cultures.

“Let us use this occasion to deepen our commitment to healing and as an opportunity to share the vibrancy of Indigenous cultures that have withstood colonization,” Songhees Chief Ron Sam said. “Together, we build a future rooted in truth and mutual respect.”

Go local for Labour Day before return to fall routine

Is it almost September already? You can feel it in the air — that combination of excitement to start a fresh school year mixed with the bittersweet feeling of the end of summer.

Make the most out of your Labour Day long-weekend by supporting your fellow Chamber members. Celebrate by enjoying a bite outa night away from home, or by planning an action-packed weekend at local treasures.

After you enjoy the long weekend, you may be getting ready for the return of the school year and your fall routine. Take advantage of The Chamber’s exclusive member-only deals and discounts on quality school and office supplies.

Chamber members can save:

  • 10% at Monk Office supplies
  • 30% when Chamber Members update laptops and PCs through Lenovo
  • Up to 85% off at Grand & Toy office supplies.

Discover all of our discounts and savings here.

The Chamber will be closed Monday, Sept. 2 for Labour Day.