Fall Economic Statement, a promising step towards a green and just recovery

K’JIPUKTUK (HALIFAX) – On Monday, Chrystia Freeland, the Minister of Finance released Supporting Canadians and Fighting COVID-19, the federal government’s fall economic statement. 

According to the Ecology Action Centre, the fiscal update is a positive indication that the federal government is on track to advance a green and just recovery.   

“It is critical that our COVID-19 recovery efforts put Canada on a path towards a cleaner, more equitable economy,” says Maggy Burns, Executive Director of the EAC. “We are pleased to see yesterday’s fiscal update include measures that will further immediate action on climate change and biodiversity loss, provide support to Canadians and advance a green economy.”  

The statement announced $100 billion in stimulus spending, including support for home energy efficiency retrofits, zero-emission vehicle infrastructure, public transit and nature-based solutions climate solutions. The update also includes support for a transition away from coal-powered electricity generation, which is of particular relevance to Nova Scotia. 

However, a green and just recovery for Canada is about more than strong action to protect our climate. EAC was pleased to see recovery spending that helps address structural inequities that are compounded by climate change impacts. Specifically spending allocations that support the needs of Black, Indigenous and marginalized communities as we recover from the effects of COVID-19 in Canada. 

“EAC views the fiscal update as a welcome start, and we will be watching closely as it must be supported by a strong climate plan, the federal budget and climate accountability legislation,” explains Burns.  “Together these will determine if we are on a path to recovery that meets the challenge of the climate crisis, or if it falls short.” 

Reference Material: 

Report: Green Budget Coalition Recommendations for Recovery and Budget Actions in 2020-2021 

Backgrounder: Time to Act for a Green and Just Recovery 

Letter: Blue Recovery- Keeping oceans central to recovery 

Report: Green Stimulus: Principles and recommendations for a 2020 economic stimulus package 

Report: Green Jobs Report Nova Scotia