CCEC Blog
Search
 

Businesses that manufacture, import and sell products need to be responsible for the waste they generate. They need to be accountable for their products beyond selling them and change their manufacturing process “to design out waste and keep products and materials in use”.  Businesses need to use less plastic and stop producing single-use items. This shift in responsibility and accountability from consumer to business also entails recognizing the Circular Economy. 


Currently, Coca-Cola is one of the biggest producers of plastic waste. In 2019, it was found to be the most polluting brand in a global audit of plastic waste by the charity Break Free from Plastic. Nestlé is third in the list of top plastic polluters globally as 98% of their products are sold in single-use packaging. There are hundreds of multinational brands contributing to plastic pollution across the globe.


Did you know that seventy-nine percent of the world’s plastic is not recycled?  Our consumption of packaging and single-use items has a real impact on climate change: just under 30 percent of our greenhouse gases come from the way we make, consume, and dispose of stuff.  We know that compostables don’t outshine plastics when it comes to environmental benefits, and biodegradable packaging is even worse. We are overwhelmed with the quantity of  waste we cannot process. Our single-use culture needs to change and the solution is not in recycling. 


We need a solution that will have a positive impact on the environment and mitigate climate change.  Tell Us Yours! One strategy is a program called Extended Producer Responsibility (EPR). EPR’s push the manufacturers and retailers to contribute to the cost of collecting and reusing their products.  Businesses can introduce take-back programs or arrange waste collection and drop-off points, so the products can be re-purposed and re-introduced for another manufacturing process.


Adopting the Circular Economy model, we can design stuff better to last longer; food chains and toy makers can make better quality goods; producers can use fewer raw materials; waste can be made a resource; excess can be discouraged in schools and homes; we can shop hyper-locally and at secondhand shops, where, in an ecologically literate world, should be seen as pioneers of a new kind of socially aware consumerism.  


Vancouver has a plastic ban bylaw and a single-use-item reduction strategy as action to support their Zero-Waste 2040 Goal.  Over the next year we will see changes in the food industry as we ban styrofoam, plastic straws and plastic shopping bags. These are great steps and we need to do more. 


Let’s work towards a circular economic model and invest and shop locally, avoid buying products from the plastic polluters and advocate for increased manufacturer responsibility to avoid waste.

Currently rated 0.0 by 0 people

Another report card, another stagnant rate. One in five children still lives in poverty in BC, as reported in  First Call’s 2019 Child Poverty Report Card.  However, despite BC seeing 18 years in a row with higher than national average child poverty rates, there has been progress and advocates insist there are solutions.


First Call’s 23rd Annual Child Poverty Report Card was released on January 14, 2020.  They report that the overall poverty rate across Canada is shrinking and credit the federal Canada Child Benefit (launched in July 2016); and the increase in household incomes for families receiving welfare and disability payments.  It is anticipated that further poverty reductions will be achieved when BC’s new Child Opportunity Benefit comes into effect this fall. 


There have been successes, however, First Call also says that “For the first time since 2009, we see an increase in lone-parent families to make up over half of BC’s poor children”. In addition, the data shows that nearly half (44.9%) of the kids living in poverty identify as recent immigrant children, one-third (30.9%) as Indigenous children living outside of First Nations communities and one-quarter (23%) as racialized (2016 census). 


There is more work to be done. Next month, the BC Budget will be released. What would the poverty reduction advocates like to see supported by the government?  The list includes increasing the number of $10-a-day child care centres, offering No-Fee Childcare spaces for those families earning $45k or less, increasing income supports and providing affordable housing, targeting efforts to help those who have a higher risk of living in poverty, increasing the minimum wage to $15 per hour, raising income and disability assistance rates in line with actual living expenses (up to 75 per cent of the Market Basket Measure) and indexing them to inflation. The BC Poverty Reduction Coalition also says that the province’s poverty reduction strategy must adopt a gender-based lens to analyze how men, women, and non-binary people experience poverty differently.  


BC now has a poverty reduction strategy called, TogetherBC. We’ve seen positive impacts from the strategies that have been implemented so far.  And, yes, we can improve. If we want to live in an equitable and just society, we need to find solutions to address the systemic barriers facing those living in poverty. 


For more information:


Currently rated 0.0 by 0 people

Invest in you and your future with an RRSP.  RRSP’s continue to be a good investment fit for many of our member-owners’ financial plans and lifestyles.


There are two main reasons our members invest in an RRSP:  to reduce taxable income (paying less tax in that year); and to be saving tax-free as (taxes are payable later on withdrawal in what would be a lower income year).  At this time, you can contribute up to 18% of your 2019 earned income, to a maximum of $27,230 plus any carry-forward contribution room that you may have until the year you are 71 years of age. 


If you would like to contribute, ask us about an RRSP loan so that you can maximize or top-up your RRSP contribution (before March 2, 2020).  You may be able to save tax dollars by investing the funds from the loan into your RRSP. By starting a monthly contribution plan, you can earn compound interest making more than if you contribute a lump sum. 


RRSP’s are considered longer-term retirement investments. However, you can withdraw funds,  for use towards the Home Buyers’ Plan or the Lifelong Learning Plan; which must be repaid within a specified time.  A word of caution before you resort to withdrawing from your RRSP - look for alternatives and talk to us. 


Are RRSPs worth it in the long run? Even though you have to pay the tax back when you withdraw the funds, yes, they are worth it. They are a valuable tool to reduce your tax burden and save for the future. Be sure to include an RRSP as an investment option in your financial plan. And, be sure to review your plan each year.  


Need a plan?  We can help you with that.


Call us today to speak with one of our investment specialists. 

Pick up the leaflet, Your Guide to Understanding RRSP’s in the branch or visit the CRA website for more information. 


A Registered Retirement Savings Plan (RRSP) is a retirement savings and investing vehicle for employees and the self-employed in Canada. Pre-tax money is placed into an RRSP and grows tax free until withdrawal, at which time it is taxed at the marginal rate.

Currently rated 0.0 by 0 people

Search

Recent Posts

Comments: 0
Rating: 0 / 0
Comments: 0
Rating: 0 / 0
home | memberdirectprivacy policy | contact | site map
© 2015 CCEC Credit Union. All Rights Reserved.