Question Period Note: Blue Economy Strategy

• The COVID-19 pandemic has significantly impacted Canada’s ocean sectors; however, with our three oceans, vast coastline, and diverse marine resources, the ocean-based economy continues to carry great opportunities for Canadians.
• While the global pandemic has exposed vulnerabilities in our society, it also offers us an opportunity to shape a more resilient and sustainable future and to “build back better.”
• That is why as part of the Government’s resiliency agenda, we are committed to continuing to grow Canada’s ocean economy to create opportunities for fishers and coastal communities, while advancing reconciliation and conservation objectives. Investing in the Blue Economy will help Canada prosper.
• As we develop this strategy, I am firmly committed to working with partners and stakeholders to promote economic opportunities while ensuring Canada’s oceans and their resources remain healthy for future generations.

• Developing a comprehensive Blue Economy Strategy is a key mandate commitment for Fisheries and Oceans Canada. This priority was included in your mandate letter from the Prime Minister on December 13, 2019, and is anticipated to be included if mandate letters are renewed this Fall.
• The Blue Economy was highlighted in the September 23, 2020 Speech from the Throne under the third foundation of the Government’s approach, “building back better.”
• The Department will be working with key federal partners, including Innovation, Science and Economic Development Canada (ISED); Transport Canada (TC); Natural Resources Canada (NRCan); and, the Atlantic Canada Opportunities Agency (ACOA) to explore how the development of a Blue Economy Strategy could be pursued.
• The World Bank defines the blue economy as, “the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health.”
• The blue economy includes a diverse range of oceans-based sectors (e.g., commercial fisheries, aquaculture, marine transportation, offshore-oil and gas, shipbuilding, port and harbour infrastructure, and tourism) that generate economic and social benefits for individuals, communities, and coastal nations around the world.
• The global blue economy prior to COVID-19 was rapidly expanding and creating significant opportunities for growth. As per a 2016 report by the Organization for Economic Cooperation and Development (OECD), global economic activities tied to the oceans was projected to double to over CAD $4 trillion by 2030. The blue economy has the potential to outperform the global economy as a whole, both in terms of value added and employment.
• In 2016, Canada’s ocean-based sectors contributed up to CAD 31.65 billion to the national economy (1.6 per cent of GDP) and approximately 296,000 jobs (1.6 per cent of national employment).
• With key assets such as: the longest coastline in the world; access to three oceans; diverse and highly-valued oceans resources; leading oceans research; and, marine conservation efforts, Canada is well-positioned to capitalize on the opportunities afforded by the growing blue economy.
• As the Government refocuses its agenda post-COVID-19, a forward-looking Blue Economy Strategy may be positioned as an umbrella encompassing a suite of oceans-related commitments that ensure sustainable economic growth, facilitate job creation and opportunity for coastal communities, and advance conservation objectives

Balancing Economic and Environmental Commitments
• A comprehensive Blue Economy Strategy will be critically important to help sustainably grow Canada’s ocean sectors, ensure the health of our oceans, and support the prosperity and resiliency of our regional and coastal communities.
• The Blue Economy Strategy will build upon our government’s ongoing work to advance oceans protection and conservation objectives, recognizing that long-term sustainable growth and prosperity can only be achieved alongside commitments to a healthy ocean.
• The sustainability of our oceans resources remains paramount and we are committed to balancing economic and environmental objectives as we work to grow Canada’s oceans economy.