the gateway is uniquely well positioned for success in both reseArch on ineVitABle fActors scenarios. by anticipating this transition and preparing for it, we there are some factors that we believe will be inevitable recognize that, collectively, we could gain strategic advantage. within our scenario time frame. For example, even this as we move forward, questions that challenge our longer term early on, it seems almost certain that we will experience an thinking include: in what ways do Port Metro Vancouver and the energy transition as carbon-based energy prices increase and gateway want to shape and guide this transition? What are resources become scarcer. this transition will have a major impact on gateway activity and is likely to become increasingly the points of influence where we can participate or lead? influential in shaping future opportunities and challenges. from here to 2050 other inevitable factors include: developing the Port 2050 scenarios has revealed important implications for Port Metro Vancouver’s strategy and • Increasing volatility and complexity operations and will continue to do so as this process and • Climate change and the local implications of global impacts its outcomes deepen and become established within the • Technological advances, both within the shipping industry organization. the following are several areas we will be and in broader society paying close attention to within our business: • Demographic changes, and how such changes will affect strAtegic Vision community and regional values One of the first things we have done is revise our strategic focus on innoVAtion vision and mission statements. What we heard during the Port 2050 process is that there is an opportunity for Port Metro this is a longer-term priority that involves small or large Vancouver to take a stronger leadership role locally, nationally experiments, pilot projects, collaborative initiatives and new and globally. this could take many forms, including a new products and services that enable the organization to test, and more active relationship with our stakeholders, or a more sense and learn for the future in a relatively low-risk way. prominent advocacy position regarding regional development. the most effective (and often only) way to manage future uncertainties is to do some “action learning;” that is, try things our new mission and vision statements can be found on the in the field, then gather data and learning from that experience, back page of this publication. We believe the revised statements and either scale the results or take a different approach. reflect this leadership opportunity for Port Metro Vancouver, as well as our commitment to sustainable growth for the benefit of WAtching for chAnge the communities we serve, both locally and across canada. to help us spot key shifts in the business environment early themes to consider on, we are compiling a list of early warning indicators, or critical developments that might suggest we are heading every scenario process shines a light on the question: what are toward one scenario over another. The benefits of watching those competencies of the future we need to develop to thrive? for these indicators include better risk management and Through this process, we identified the following competencies increased competitive advantage. that Port Metro Vancouver needs to nurture and advance: • Full Gateway supply chain coordination, including strategic use of technology • Breakthrough approaches toward land use and our indicAtor cAtegory WhAt We Will WAtch for overall footprint (exAmples) social (values, demographics) changes in consumption patterns; community • Leadership and innovation around increased productivity acceptance of Port operations; reception of and energy efficiency corporate social responsibility principles • Community partnerships technology rise of new manufacturing methods; • Multi-stakeholder engagement and collaboration investments in new energies; sustainable • Our ability to attract top talent supply chain technologies • Our adaptive capacity Trade flows/patterns trade policy; oil prices; foreign investment • Our ability to manage complexity in emerging markets continued engAgement With stAkeholders economic Commodity pricing; changes to for-profit Port Metro Vancouver has an opportunity to use this scenario business model; growth of emerging economies work to engage with our stakeholders in a positive and Change in policy/regulation; increase in Environment/climate productive strategic conversation about our shared future, a weather anomalies key objective of this process. receiving stakeholder feedback on the strategic implications for the gateway will both deepen Political Political instability at home and abroad our understanding of each others’ goals as well as create opportunities for further collaboration. 23 24