OTTAWA, ON, Feb. 12, 2021 /CNW/ – The Government of Canada is developing a Blue Economy Strategy to grow our ocean sectors through job creation, inclusion and conservation. This strategy will harness opportunities on all three coasts to spur innovative ideas, create more jobs, leading to a more prosperous future for Indigenous and coastal communities. It will also position Canada as a world leader in the global blue economy.
An effective Blue Economy Strategy is one in which Canadians from coast to coast to coast will see themselves: ocean industries, innovators, environmental groups, indigenous and non-indigenous communities across the country. Over the past week, the Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard held roundtable discussions with leaders in some of these key sectors including the fisheries and aquaculture sectors, academia, and women leaders in ocean sectors to hear their suggestions on a successful blue economy strategy.
During these roundtables, Minister Jordan has heard about the importance of British Colombia’s fisheries and coastal tourism from the Pacific region, the level of importance of having reliable, timely, and accessible data on our oceans from ocean scientists and professors and the need for collaboration between communities, first nations and industry to produce a strategy that considers economic, social and environmental factors.
The Government of Canada will continue to host roundtable discussions and shortly Canadians will be invited to share their feedback through online engagement. Those interested will also be able to visit the Blue Economy website where they can download an engagement toolkit to host their own discussions.
The engagement of Indigenous peoples is critical in the development of this strategy. Indigenous peoples bring vast knowledge and valuable experience given their longstanding and close relationship with Canada’s oceans. Indigenous stakeholders will be engaged through ministerial and departmental roundtables, and all Indigenous peoples will be able to share their views about how a Blue Economy Strategy could better serve their economic and environmental priorities through the online engagement.
“What we heard this week was that Canadians agree – our Blue Economy has so much potential for growth. We’re going to keep working with Indigenous peoples, industry, environmentalists and more to create a strategy that will ensure we’re sustainably harnessing our ocean resources to their full potential. Canadians want a thriving Blue Economy that is built on protection, production, prosperity, and that’s exactly what we’re striving toward.”
The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard
- Minister Jordan launched the engagement on Canada’s Blue Economy Strategy on February 8, 2021. Between February 8-12, 2021, she held 9 roundtables with fisheries and aquaculture leaders, ocean innovators, academia, and women leaders in ocean sectors.
- 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.
- Pre-COVID-19, Canada’s ocean-based economy contributed significantly to national Gross Domestic Product (GDP), adding approximately $31.7 billion annually (1.6 per cent of total GDP) and nearly 300,000 jobs across a broad range of sectors.
- DFO will continue working with federal partners, including Transport Canada, Innovation, Science and Economic Development Canada, Natural Resources Canada, Crown-Indigenous Relations and Northern Affairs Canada, Infrastructure Canada, Global Affairs Canada, regional development agencies, and others, to advance this whole-of-government federal initiative.
SOURCE Fisheries and Oceans (DFO) Canada
For further information: Jane Deeks, Press Secretary, Office of the Minister of Fisheries, Oceans and the Canadian Coast Guard, 343-550-9594, [email protected]; Media Relations, Fisheries and Oceans Canada, 613-990-7537, [email protected]
TSX rises 0.6% to 18,490.76
* The Toronto Stock Exchange‘s TSX rises 0.60 percent to 18,490.76
* Leading the index were Mullen Group Ltd <MTL.TO>, up 8.0%, Sprott Inc, up 6.5%, and Ero Copper Corp, higher by 5.4%.
* Lagging shares were Lightspeed POS Inc, down 7.4%, Ballard Power Systems Inc, down 5.5%, and Hudbay Minerals Inc, lower by 4.3%.
* On the TSX 138 issues rose and 79 fell as a 1.7-to-1 ratio favored advancers. There were 36 new highs and no new lows, with total volume of 198.4 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc, Air Canada and Cenovus Energy Inc.
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* West Texas Intermediate crude futures fell 2.13%, or $1.41, to $64.68 a barrel. Brent crude fell 2.06%, or $1.43, to $67.93 [O/R]
* The TSX is up 6.1% for the year.
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Canada Dollar dips as short-covering propels greenback broadly higher
By Fergal Smith
TORONTO (Reuters) – The Canadian dollar edged lower against its U.S. counterpart on Monday but fared better than most other G10 currencies as the United States moved closer to passing fiscal stimulus and ahead of an interest rate decision by the Bank of Canada on Wednesday.
The loonie was trading 0.1% lower at 1.2666 to the greenback, or 78.95 U.S. cents.
“We have seen some modest defensiveness with respect to the loonie,” said Bipan Rai, North America head, FX strategy at CIBC Capital Markets. “It just feels like the market is closing up shorts in U.S. dollars.”
The safe-haven U.S. dollar notched a 3-1/2-month high against a basket of major currencies as elevated U.S. Treasury yields spooked investors.
Pressure on the loonie was less than on some other currencies because Canadian yields have been keeping pace with the recent move higher in U.S. yields and oil has climbed, Rai said.
Besides the greenback, the only other G10 currency to gain ground against the Canadian dollar on Monday was the Norwegian crown.
The U.S. Senate on Saturday passed the stimulus package, and President Joe Biden said he hoped for quick passage of the revised bill by the House of Representatives.
Canada sends about 75% of its exports to the United States, including oil.
Oil settled 1.6% lower at $65.05, giving back some recent gains, after Saudi Arabia said there were was no loss of property following attacks on its oil facilities.
Investors see rising chances that the Bank of Canada would hike interest rates next year as the economic outlook improves, but the central bank is likely to push back against those bets for now, pointing to still high unemployment, analysts say.
Canada‘s 10-year yield touched its highest since January last year at 1.545% before dipping to 1.521%, up 1.9 basis points on the day.
(Reporting by Fergal Smith; Editing by Marguerita Choy and Jonathan Oatis)
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