National Post (National Edition)
Growing Canada’s Ocean Economy by 5 Times
Canada’s ocean impacts us all, but there’s much work that needs to be done to harness the incredible economic potential it holds.
By 2030, the world’s ocean economy will outpace the growth of the broader economy by 20 per cent, growing to $4 trillion. For Canada, this is one of the most important opportunities of our time — not just because of the transformational potential it holds for workers, communities, and industry, but also because of the global conversation on carbon, biodiversity, and how critical the ocean is to the health of our planet.
Our ocean is critical in the transition to renewable energy, feeding a growing population, greening marine shipping for commerce, and increasingly putting Canada at the forefront of the global economy. Further, the High Level Panel for a Sustainable Ocean Economy released a report stating that the ocean could contribute up to 35 per cent of the emissions reductions required by 2050.
Unlocking the ocean economy's potential
“Whether you live by an ocean or not, it has an impact on us all,” says Kendra MacDonald, CEO of Canada’s Ocean Supercluster. “We have the longest coastline in the world, vast resources, and strength in areas such as ocean AI and other advancing technologies, yet Canada’s ocean contributes less than half of the global average to national GDP. Given the magnitude of this opportunity and the urgency behind it, now is the time to unlock the potential of a $220 billion ocean economy in Canada through Ambition 2035.”
As Canada’s national ocean cluster, Canada’s Ocean Supercluster connects the country’s ocean community, accelerates the development of Canadian ocean solutions to sell to the world, helps grow ocean companies, provides a global brand to support commercial opportunities for Canadian companies internationally, and will create 20,000 jobs by 2030. Last year the cluster launched a 5X growth ambition for Canada’s sustainable ocean economy.
Whether you live by an ocean or not, it has an impact on us all.