Canada Can Boost Economy Through Sustainable Resource Development
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📰 The quick summary: Canada can use its natural resources more effectively while ensuring development is done responsibly and sustainably to support economic stability without burdening future generations with environmental costs.
📈 One key stat: Canada contains 20 percent of the Earth’s surface freshwater — more than any other nation — highlighting the importance of protecting these vital resources for long-term prosperity.
💬 One key quote: Outdated business models that threaten health and the future of resources won’t propel Canada into a new era of prosperity.
1️⃣ The big picture: Canadian politicians across party lines are calling for faster resource development projects, with some provinces already introducing legislation to speed up the process. While cutting red tape can accelerate development, environmental regulations serve a critical purpose in protecting long-term sustainability. Scientists warn that without proper impact assessments, development can devastate human health and resource sustainability. They emphasize that environmental protection isn’t just red tape but essential safeguards that prevent future generations from bearing cleanup costs of exhausted resources and abandoned infrastructure.
2️⃣ Why is this good news: Resource development can be done sustainably while maintaining Canadian prosperity and sovereignty. By actively involving Indigenous rights-holders in planning and management, Canada can respect their moral and legal rights while benefiting from effective land stewardship. Maintaining strong environmental protections while eliminating only unnecessary red tape ensures development doesn’t harm individuals, species, or landscapes. As other countries implement sustainability requirements for imports, Canada can gain a competitive advantage by providing sustainably extracted resources, positioning itself ahead of the curve in global markets.
3️⃣ What’s next: Canada must embrace evidence-informed decision-making processes that are robust, transparent, and inclusive. Politicians need to focus beyond short-term economic windfalls and plan for resource use that remains sustainable and equitable over the long term. By rejecting the path of cutting environmental regulations, Canada can gain a distinct competitive advantage today and far into the future.
Read the full story here: The Conversation – ‘Elbows up’ in Canada means sustainable resource development
