Canada’s New Government Offers a Re-set for Sustainable Development

Oct 26, 2015 4:10 PM ET

Canada’s New Government Offers a Re-set for Sustainable Development

Canada’s economy, more than most in the developed world, depends on its abundant natural resources. Water for hydropower, timber for paper and wood products, minerals for the mining and manufacturing industries, oil and gas for the energy sector, and fertile ground for its agriculture are the country’s principal economic building blocks.

The newly elected Liberal Party administration is widely seen as offering the promise of a shift in direction from its Conservative predecessor, to sustainable development that includes environmental, social, and governance factors in its strategies and practices.

The International Institute for Sustainable Development, a Canadian research organization, has issued a call for Ottawa’s incoming administration to integrate ESG issues into the Federal Sustainable Development Act. As described by IISD President and CEO Scott Vaughn, seven priorities are key to bridging economic and environmental planning. They range from restoring federal environmental assessments to a new partnership with First Nations and aboriginal peoples. Vaughn’s comments make a good case that a strong Canadian economy depends on a triple bottom line approach to its profits.

 I’m John Howell for 3BL Media.