Today, a new report was released based on a study led by Canada’s Ocean Supercluster (OSC), assessing that Canada, with the world’s largest coastline, is positioned to be a global leader in
Today, a new report was released based on a study led by Canada’s Ocean Supercluster (OSC), assessing that Canada, with the world’s largest coastline, is positioned to be a global leader in the nascent marine carbon dioxide removal (mCDR) industry. With more research and investment, the industry could create 90,000 permanent jobs by 2050, increasing Canada’s GDP by $16 billion. The report also finds that the fast-growing mCDR industry could attract potential investment greater than $30 billion and support economic goals such as workforce upskilling and boosting exports.
mCDR refers to a suite of scientific approaches that aim to enhance the ocean’s natural ability to absorb carbon dioxide from the atmosphere. Identified as a high-potential climate pathway by leading scientists and governments, mCDR may also lessen the negative impact of ocean acidification and improve coastal climate resilience. The report emphasizes the environmental and economic advantages and incentives for Canada to support mCDR approaches as part of the government’s forthcoming climate competitiveness strategy.
Canada is uniquely positioned to pursue mCDR with access to the Atlantic, Pacific, and Arctic Oceans, with both coastal provinces of British Columbia and Nova Scotia already being home to mCDR companies. The report offers an assessment of
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