Canada's approach to creating sustainable jobs includes identifying and pursuing opportunities for regional economic transformation that will lead to sustained economic growth compatible with a net-zero economy. The Government of Canada is working with partners across the country to build a clean economy, advance economic reconciliation, support the energy sector, and ensure a just transition that creates sustainable, middle class jobs for people and communities in every province and territory.
Today, the Honourable Jonathan Wilkinson, Canada's Minister of Natural Resources, and the Honourable Tory Rushton, Nova Scotia's Minister of Natural Resources and Renewables, jointly announced their intention to facilitate the transition to a clean economy and create sustainable jobs by refreshing and expanding the mandate of the Canada-Nova Scotia offshore energy regime. Both governments also committed to further collaborate on establishing a competitive, world-class offshore renewables sector, positioning Nova Scotia to become a world leader in offshore wind and clean hydrogen production.
To address and capitalize on emerging opportunities, the two governments have agreed to work toward modernizing the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) that would expand its mandate to include the regulation of offshore renewable energy development in the Canada-Nova Scotia offshore areas. Modernizing the CNSOPB is consistent with both governments' commitments to diversify their economies and includes an intention to move forward by renaming the board to the Canada-Nova Scotia Offshore Energy Board (CNSOEB) to reflect its new mandate.
To implement these changes, the Government of Canada intends to amend the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, and the Government of Nova Scotia has committed to introducing mirroring legislative amendments in the province's House of Assembly.
The CNSOPB will draw on existing regulatory experience, technical expertise and administrative capacity. The new Board will become the lead regulatory body for offshore energy in the Canada-Nova Scotia offshore areas, creating a predictable and streamlined regulatory environment and promoting investor confidence in the deployment of renewables.
As Canada and Nova Scotia facilitate the emergence of a globally competitive offshore renewables sector, both governments and the CNSOEB have agreed that the primary focus of offshore development efforts will be renewable energy projects.
As the Government of Nova Scotia continues to build on its strategy for economic growth and job creation, it is committed to taking the actions set out in its provincial Climate Change Action Plan, advancing electrification and innovation, and implementing its Renewable Electricity Plan to further the transition into more renewable energy sources. This work is well underway and will continue to be informed by input from the general public, industry and business leaders, civil society organizations, Indigenous groups and the Nova Scotia Round Table on the Environment and Sustainable Prosperity.
The governments of both Canada and Nova Scotia are committed to creating regulatory alignment and certainty in a way that will allow offshore renewable projects to be expedited moving forward in support of the clean energy transition. Therefore, both governments will work together to consider adjustments to the regulatory regime for these projects to proceed as efficiently as possible while ensuring that regulatory reviews remain rigorous and effective.
In further support of this work, the Minister of Environment and Climate Change, in partnership with the Government of Nova Scotia, will be initiating a regional assessment for offshore wind energy in Nova Scotia to assist in providing long-term regulatory certainty and clarity for investors, which will be conducted in consultation with the CNSOEB.
Additionally, Natural Resources Canada will initiate a regional process to work collaboratively with provinces and territories, Indigenous partners and the private sector to create place-based economic strategies that facilitate the creation of sustainable jobs through the clean energy transition.
