Billions of dollars up for grabs in Arctic Ocean: Industry organization
Panelists discuss what economic growth in ocean sector means for Inuit Nunangat
Harry Flaherty, president of Qikiqtaaluk Corp., speaks Feb. 20 at a panel discussion during the Aqsarniit Trade Show and Conference in Ottawa. While more people are extracting economic opportunity from the world’s oceans, including the Arctic Ocean, Flaherty said the main concern for Inuit is conservation. (Photo by Jorge Antunes)
Canada’s Arctic Ocean represents an “enormous economic opportunity” but exploiting that potential wealth must be balanced with conservation.
That was the message panelists at last week’s Aqsarniit Trade Show and Conference in Ottawa stressed during a discussion on ocean innovation on Feb. 20.
“By 2030, the ocean economy globally will outpace the growth of the broader economy,” said panel moderator Nancy Andrews, who added it could be worth US$3 trillion by then.
More offshore oil and gas drilling, seabed mining, offshore wind and tidal energy, and aquaculture are drivers of this growth, according to the Organisation for Economic Co-operation and Development, an international group of 38 member countries, in a 2016 report called The Ocean Economy in 2030.
The panel discussion, called “Accelerating Ocean Innovation in the Arctic,” was presented by Canada’s Ocean Supercluster, an industry-led ocean innovation organization that supports development of new ocean startup companies.
The organization has set an ambitious target of five times growth in the sector by 2035.
The ocean, or “blue,” economy is currently worth $44 billion. They hope to grow that amount by 500 per cent to $220 billion annually by 2035.
“It is an unbelievable opportunity for the people who live in the Arctic and the people who run the Arctic,” said Adam Fisher, associate deputy minister for economic development at the Government of Nunavut.
The panel was tasked to consider what this growth could mean for the Arctic Ocean in particular.
Panelist Harry Flaherty, president of the Qikiqtaaluk Corp., said the most important component to think about is conservation.
“Us Inuit that live in the North, our main concern will always be conservation, the well-being of wildlife, the air we breathe, the ocean we travel within,” he said. “That is within the mandate of the Qikiqtaaluk Corporation.”
He said he feels achieving this amount of growth is not a “lofty goal,” but is contingent on receiving increased investment from the south.
Increasing investment would open up “huge economic development opportunities in the ocean economy, in fisheries, tourism, marine transportation, mining and defence,” Flaherty said.
Panelist Harry Flaherty, president of Qikiqtaaluk Corp., says conservation is their most important priority. Sure, because whenever I think of QIA and Inuit Organizations, “conservation” is definitely the first thing that comes to mind—not dollar signs ($$).
From what I’ve repeatedly heard and seen, the only “wildlife” QIA genuinely seems interested in preserving are the frequent flyers they send on those critical missions—like that totally essential trip to Washington D.C. last year. I mean, how else would staff justify their hefty salaries and overly generous benefits packages?
And let’s not forget how wonderfully these Inuit Orgs support Inuit—especially if by “Inuit” you mean their own highly paid staff and their children, who always seem to magically qualify for funding. But hey, maybe that’s what Harry meant by “conservation”—protecting their cushy jobs and high-status lifestyles. After all, noses can’t stay pointed toward the sky without significant financial support.
Inuit won’t even make to $100 000 and they are saying billions of dollars going to arctic. From now on Inuit speak up and they will make excuses to give the job to white people and foreigners. Inuit will get half of the minimum wage for sure. Inuit should know about the handling the finances. There goes a billions dollars Inuit speak up while you have a chance. Government are trying to silence us but speak up louder for their lack of work too and they make the documents and can be review. They just refusing to release it so they won’t be embarrassed for their careless work.
When are you going to stop this damn racist remark about non Inuit or the Government, if you work for the GN and your boss didn’t do anything, go to the Union and report any issues, if it was medical issue, contact patient relations, Why are you soo unhappy? You get free education ,free dental, free eye exam, glasses, Looks like everyone else has done wrong but not you… You clearly need to get out on the land more and clear your mind or find another hobby that can take some of your stressors away.
mine BITCOIN INSTEAD FOOL. come one , for once lets not be last . Invest Inuit money into BITCOIN reserve!
why rip up nuna when you can mine digital gold
Offshore oil and gas drilling – already shot down in Nunavut. Seabed mining – highly doubtful this will be accepted. Offshore wind and tidal energy- why bother when we have so much high unoccupied land to put turbines? Aquaculture? Nunavut will not be too keen to allow “invasive” commercial species into our waters to be grown out in pens.
In short, the blue economy is a complete nothing burger for Nunavut. Nunavut cannot establish Marine protected areas fast enough. How can anyone fail to see how this is incompatible with establishing new marine industries?
Nunavut is closing doors on stuff while going to conferences deluded into thinking new doors will open.