A comprehensive measure of Canada’s national wealth shows it has been stagnant for decades and is too heavily dependent on housing and oil and gas, says a groundbreaking national report by the International Institute for Sustainable Development.
This week’s federal government approval of two expanded oil export pipelines simply drives home the “imperative” that Canada use its fossil fuel wealth to diversify the economy, IISD president Scott Vaughan said Thursday.
“What we’re saying is this is a roller-coaster; we know it’s a roller-coaster,” Vaughan said at a news conference in Ottawa.
“What goes up tomorrow will come down again. If you’re looking at what are the long-term trajectories to build Canada’s wealth, we’re saying we need to move on this (low-carbon) transition now.” READ MORE: http://www.cbc.ca/news/canada/calgary/canada-stagnant-national-wealth-reliant-oil-1.3877754
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