Canada’s oceans provide billions in value beyond fish

Written By Peter Allan

A member of a kayaking tour on BC's coast stands on the shoreline. Coastal tourism is estimated to generate more than $450 million in economic benefits per year. Photo courtesy: Spirit of the West Adventures.

By Rochelle Baker

Canada’s healthy oceans are worth billions more than what can simply be extracted from them.

Oceans and coastal ecosystems generated at minimum $7.1 billion in benefits in 2023, new figures from Statistics Canada suggest.

The study is part of the federal government's efforts to value more of the advantages nature can offer to people and communities.

By estimating the monetary value of marine “ecosystem services”, the federal government is taking a new approach to quantifying the often ignored perks that oceans provide — such as clean water, wildlife or climate benefits — in addition to measuring the revenue from traditional resource industries like fishing, explained McGill University professor Brian Robinson, an expert in ecosystem services.

“It makes these things visible — which are typically invisible in most policy contexts — when making decisions around development opportunities,” he said.

Billions worth of blue carbon

Given its vast coastlines, Canada is working to put a price on the ocean’s ability to sink planet-heating CO2 to meet climate goals, curb the climate impacts and trade carbon credits based on emissions reductions in the global market.

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Peter Allan
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