41 recommendations call on Province to modernize the Trust’s governing Act, highlighting strategic investment as the starting point to advance co-governance with First Nations in the region.
K’ómoks Territory, Courtenay, BC – An independent review released today makes a compelling case for strategic change at Island Coastal Economic Trust (the Trust) — and warns of what’s at risk if action isn’t taken.
A Case for Change delivers 41 recommendations to the Province of British Columbia to modernize the Trust’s legislation, including key amendments required to support co-governance with First Nations. The report also identifies strategic investment as a fundamental starting point.
The independent committee, comprising Doug Caul (former Deputy Minister to the Premier), Angela Wesley (Huu-ay-aht First Nations), and Merv Child (Dzawada̱ʼenux̱w First Nation) and facilitated by Katherine Palmer Gordon, was struck in November 2025 as required every five years under the Trust’s governing Act to assess how the Trust’s legislation is functioning and advise government on strengthening it.
Their conclusions are clear. Following on the recommendations of three previous reviews (2011, 2016, 2022), the committee found that without action, the Trust faces closure by 2028.
“This report provides both clarity and momentum at a pivotal moment for the Trust,” said Trust Board Chair Michelle Staples, Mayor of Duncan. “We are deeply grateful for the insights of the committee and the clear path this provides towards action. It’s so exciting to have this advice guide the process as new legislation is being drafted.”
The 41 recommendations to the Province for legislative change are organized across three areas — effective functioning, financial sustainability, and governance — with five priorities standing out:
- Co-governance with First Nations — Amend the Act to ensure at least 50% First Nations representation on the Board and Regional Advisory Committees.
- Strategic provincial investment — Consider relevant factors, including the viability of co-governance, when making the decision around investment in the Trust.
- Remove the funding cap — Eliminate the legislated ceiling on provincial funding so future investments don’t require costly and time-consuming legislative amendments.
- Distinct legislation — Amend the Act to reflect the shared vision of coastal First Nations and local governments for strategic regional development on Vancouver Island and the surrounding coast. Avoid changes designed by or for trusts operating in different contexts elsewhere in the province.
- Third-party funding — Remove administrative barriers to allow greater financial flexibility and new funding opportunities.
The report arrives at a critical moment. In 2025, the First Nations Strategic Recommendations Report — developed by Sa̱nala Planning in collaboration with 33 First Nations — received unanimous support for a co-governed model including a call by all First Nations for strategic provincial investment in the Trust to make co-governance possible. The Trust’s most recent funding was a one-time $10 million provincial grant in 2024. Without a strategic, enabling investment in Budget 2027, the Trust will be dissolved by 2028, at a time when it can otherwise be working with the Province to launch a new era of strategic development across Vancouver Island and coastal B.C.
With provincial legislation for regional trusts currently in development, A Case for Change offers a well-researched, independent foundation to inform upcoming decisions that will shape the future of inclusive, sustainable economic development across Vancouver Island and the coastal regions the Trust serves.
Read the full report here: https://islandcoastaltrust.ca/wp-content/uploads/2026/03/A-Case-for-Change-Independent-Review.pdf
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About Island Coastal Economic Trust
Island Coastal Economic Trust is the regional development organization founded by the Province of British Columbia under the North Island-Coast Development Initiative Trust Act to serve Vancouver Island and the surrounding coast. We partner with First Nations, local governments, businesses, and non-profits to drive prosperity and diversify the coastal economy through strategic economic investments. Over $406.5 million in direct new investment has been attracted to coastal B.C. through our partnerships since 2006. We believe that meaningful and lasting change is best achieved through strong, collaborative partnerships that unite people, communities, sectors, and resources. As we work toward inclusive and resilient economic futures, we do so with a deep appreciation for the histories, contributions, and rights of the Kwak̓wala/Bakwam’kala, Nuučaa̓nuɫ, Éy7á7juuthem, Ligwilda’xw, Pəntl’áč, She shashishalhem, Hul’q’umi’num’, diitiidʔaatx̣, SENĆOŦEN, Skwxwú7mesh, Lekwungen, and T’Sou-ke speaking peoples.
The Trust’s mandate has been to support economic diversification and growth across Vancouver Island, the Sunshine Coast, and islands and inlets from the Salish Sea to Cape Caution (see Our Region). Serving more than half a million residents, the Trust partners with communities in the development and financing of their economic infrastructure and diversification efforts through a unique structure that is led by and accountable to communities.
Media Contact:
Kyle Wells
Manager, Communications and Impact
Island Coastal Economic Trust
kyle@islandcoastaltrust.ca
250-871-7797
