Letters August 25, 2022

Streamlining regulatory approvals will encourage investment in Canada

Goldy Hyder – President and Chief Executive Officer, Business Council of Canada

Energy Global Affairs Industry and innovation Natural Resources Regulation

Letter from Goldy Hyder to the Rt. Hon. Justin Trudeau, P.C., M.P., Prime Minister of Canada regarding German Chancellor Olaf Scholz’s recent visit to Canada.

Prime Minister,

Thank you for your letter dated August 17, 2022, and congratulations on the success of this week’s visit by Chancellor Scholz. Our discussions with German business representatives, both prior to and during the visit, left us in no doubt about the unprecedented interest in Canadian energy resources and critical minerals.

Energy producers and consumers on both sides of the Atlantic were greatly encouraged by your pledge to help streamline the regulatory approvals process for projects that are needed to export Canadian energy to Europe. This commitment will strengthen an already robust business case for investment in Canada.

We have before us an opportunity that is truly win-win-win. By working together to develop Canada’s critical minerals and strengthen transatlantic energy supply chains, we can help alleviate European energy shortages, reduce overall GHG emissions, and create thousands of well-paying, middle-class jobs for Canadians.

This is Canada’s moment, but seizing it will require billions of dollars’ worth of private investment, timely and efficient regulatory processes, and an exceptionally high level of public and private sector collaboration.

It is time to turn vision into action.

Yours very truly,