SASKATOON, SK, Aug. 14,
2024 /CNW/ - Canadians are well aware that climate
change is altering our world's natural environment in a myriad of
harmful ways. At the same time, it is increasingly clear that
climate change is also rapidly transforming the global economy and
global finance in ways that are creating significant opportunities
for Canadian workers, businesses and Indigenous communities.
Increasingly, governments around the world are taking action.
Our American friends are making massive investments in growing a
clean economy through the Inflation Reduction Act (IRA). So are our
European, Japanese and South Korean partners. And beyond democratic
friends, competitors such as China
are also moving aggressively and highly strategically to seize the
major economic opportunities offered by the ongoing energy
transition.
For Canada to seize the
extraordinary opportunities being created by the transition to a
net-zero economy, we must first accept the scientific reality of
climate change and ensure that this informs and shapes Canada's economic strategy.
Key economic opportunities are going to be different in
different parts of the country. The federal government is working
with provinces and territories, Indigenous partners, industry,
labour, academic institutions and others to build on unique
regional advantages and drive localized clean growth and wealth
creation in every part of this country.
Today, the Honourable Jonathan Wilkinson, Canada's Minister of Energy and Natural
Resources, met with Indigenous leaders and key stakeholders in
Saskatchewan's business, labour
and academic communities to initiate an engagement process aimed at
collaboratively furthering key economic priorities of
Saskatchewanians.
The potential economic opportunities associated with the
transition to a low carbon economy are enormous for Saskatchewan. Opportunities of increasing
demand are arising in various areas, including:
- carbon capture and storage;
- critical minerals;
- clean fuels; and
- clean electricity generation.
According to Clean Energy Canada, Saskatchewan is projected to see some of the
most significant growth rates in clean energy jobs by 2050 — about
an additional 131,000 new jobs between now and mid-century.
Enhanced dialogue and collaboration will aid in the
prioritization of federal actions and support in key resource and
energy areas. These conversations will complement and help inform
the Government of Canada's work to
implement the Framework to Build a Green Prairie
Economy.
By recognizing where the world is heading and aggressively
pursuing major areas of economic opportunity, we can ensure that
Saskatchewan and Canada overall will prosper now and into the
future.
Quote
"Active engagement with Indigenous partners, industry, labour
and other important stakeholders is critical to building a
low-carbon economy for the future that will be a prosperous one.
Similar conversations are underway in every province and territory
in this country as we look to not only fight the threat of climate
change but also concurrently seize the massive economy
opportunities of a low carbon future."
The Honourable Jonathan Wilkinson
Canada's Minister of Energy and
Natural Resources
Quick Facts
- Saskatchewan is increasing its
solar and wind capacity and is projected to be one of Canada's leaders in renewable energy
growth.
- The Government of Canada has
identified 34 critical minerals, 27 of which can be found in
Saskatchewan. Mineral exploration
expenditures in Saskatchewan hit a
10-year high in 2023, with uranium exploration leading the way,
demonstrating the region's high global attractiveness for
investment (Saskatchewan Ministry of Energy and Resources
Exploration and Development Highlights Report, 2023).
- Natural Resources Canada has been working with the Saskatchewan
First Nations Natural Resource Centre of Excellence since 2023 to
better understand First Nations interests and perspectives in the
transition to net zero.
- The Government of Canada is
investing in a clean economy for Saskatchewan, including:
- $29 million to the Saskatchewan
Research Council to process rare earth elements here in
Canada — a first of its kind. This
work will help build a comprehensive supply chain for critical
minerals in Canada.
- $100 million through the
Strategic Innovation Fund to support BHP's $7.5-billion project to develop its world-leading
low-emissions potash mine. This mine, located in
Jansen, Saskatchewan, is expected to generate the
lowest direct emissions of any potash mine in the
world.
- $74 million in federal funding
for small modular reactor development in Saskatchewan, led by SaskPower. This
funding will support pre-engineering work and technical studies,
environmental assessments, regulatory studies and community and
Indigenous engagement to help advance this important
project.
- $300 million of federal clean
energy funding was directed to the Wah-ila-toos partnership
for clean energy projects in Indigenous, rural and remote
communities in Canada.
- $10 million in clean energy
support for Indigenous communities in Saskatchewan.
- The return of $174 million
in pollution pricing proceeds to Saskatchewan for non-emitting electricity
projects including new residential smart meters, improvements to
rural electricity transmission system and refurbishment of
the E.B. Campbell Hydroelectric Station.
- A $50-million-dollar
investment in the Bekevar Wind Power Project in
partnership with the Cowessess First
Nation.
- $7 million in investments to
Indigenous clean energy projects in Saskatchewan through the Smart Renewables
and Electrification Pathways program.
- $3.95 million in funding for
Shell Canada to install 79 electric vehicle (EV) chargers
across 37 Shell retail locations along critical corridors between
Alberta, British Columbia, Ontario, Manitoba and Saskatchewan.
- $18.5 million in the
Indigenous-led Awasis Solar Project, a 10 MW solar power
generation project to be built on Cowessess First
Nations land.
- $21.6 million in funding to 14
Indigenous communities to help implement clean energy projects,
with one community in Saskatchewan.
Follow us on LinkedIn
SOURCE Natural Resources Canada