Co-op News May 28

Federated Co-op Buying Ethanol Plant in Saskatchewan

Federated Co-ops Limited is preparing for the incoming national clean fuel standard by purchasing an ethanol plant in Belle Plaine, Saskatchewan.

FCL’s vice president of strategy Pam Skotnitsky says the plan is to make the plant more efficient at carbon capture and storage technologies. Currently, the facility converts more than 400,000 metric tonnes of grain and other crops to produce 150 million litres of ethanol each year.

The federal clean fuel program aims to reduce greenhouse gas emissions through the lower use of carbon fuels, energy sources and technologies with the goal of achieving a 30 tonne annual reduction in GHG by 2030.

https://globalnews.ca/news/5308216/federated-co-op-ethanol-plant-belle-plaine/

BC First Province to protect “Force For Good Businesses”

When a business sets out to be a force for good by caring for the environment or being socially responsible, what protects those values when new investors or owners come on board?

Well up until now, the mission statement could be cast aside. But now, BC has become the first province in Canada to register a company as a benefit company and with that law, business owners can lock in and protect their purpose for the long term.

This new law is the result of an initiative brought to BC Green Party Leader Andrew Weaver by Bernie Geiss, a North Vancouver continuity advisor who helps businesses plan for succession. Weaver liked the idea so much he introduced a private members bill that received support from both the NDP and Liberals. A rare example of all parties collaborating for the good of the people.

Geiss says too often companies plan for advancement but shareholders have different views. He cites the example of Loblaws Ltd which wanted to pay a living wage to its employees, but shareholders were against it. So the plan failed.

Geiss says he hopes the non-partisan leadership taken by BC will be an example for the rest of Canada. 35 American states already have these kinds of company benefit laws.

https://thetyee.ca/News/2019/05/22/BC-First-For-Good-Businesses/