August 14, 2024 Saskatoon, Saskatchewan Natural Resources Canada
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.
