Under the Financial Administration Act (FAA), British Columbia’s minister of finance presides over the Ministry of Finance and is responsible to the lieutenant governor in council for its direction.

The minister of finance is responsible for the management and administration of the consolidated revenue fund, the supervision of government revenues and expenditures, matters relating to the fiscal policy of the government, and the supervision, control and direction of all other matters relating to the financial affairs of the government that are not assigned by the FAA or any other enactment to the Treasury Board.

Province of British Columbia notes are issued under the authority of an order of the lieutenant governor in council of the province. The notes constitute direct, unsecured, general obligations of the province and rank concurrently and pari passu with all other unsecured notes, bonds, debentures and other like securities issued by the province outstanding from time to time, other than those which are by their terms subordinated to the notes. Principal and interest are payable out of the province’s consolidated-revenue fund.

The debt-management branch provides centralised liability-management services to the government and its Crown corporations and agencies. In addition to borrowing funds to meet government requirements, the branch manages all principal and interest payments over the life of a debt issue and enters into derivative-product transactions to manage interest-rate and foreign-currency exposure. As of 31 March 2021, the branch manages approximately C$82.2 billion of gross debt.

Province of British Columbia has well-established credentials as a jurisdiction that respects and practices ESG principles. The province recognises the value accorded by the financial community to ESG and is proud of its role in advancing this important agenda.

Highlights of Province of British Columbia’s ESG profile include:

• Province of British Columbia has been an early adopter of the Climate Agenda with targets for emission reduction, levying carbon tax and its Clean BC programme.
• Almost three-quarters of annual government spending is on social supports and improvements. Poverty reduction, affordable housing and First Nations reconciliation are among the priorities.
• The province has developed an institutional framework for transparent, accountable and respectful governance.

Ministry of Finance, Provincial Treasury, Debt Management Branch
+1 250 387 3024
www.fin.gov.bc.ca/PT/dmb/index.shtml