Canada's natural wealth: Discover its environmental treasures

Some recent data on Canada's environmental treasures

In 2020, it is estimated that Canada's natural wealth was around $550 billion. In other words, this is the dollar value of the country's natural resource reserves, which is down by 32.7 %, or $818 billion in 2019.

These estimates of natural resource wealth were established by Statistics Canada. They are based on the value:

• Proven and probable reserves of certain minerals;
• Proven active reserves of energy resources;
• Wood stocks that are physically accessible and ready for harvest.

Energy resources include natural gas, coal, natural bitumen and crude oil. Regarding mineral environmental treasures, we cite: gold, iron, copper, nickel, zinc, uranium, molybdenum, potash and diamonds.

The estimates established are based on the guidelines of the United Nations System of Economic and Environmental Accounting. They are also closely linked to the 2008 System of National Accounts.

In 2020, mineral resources ranked as the top natural wealth heritage resource in Canada. The latter represented nearly 50 % natural resources of the country. In second position, we find wood resources which were around 31 %. Finally, we have energy resources which represent approximately 19 % natural resources of the country.

We can then notice a big change compared to the previous year: energy resources were 56 %, the wood resources were 23 % and the mineral resources were 21 %.

Environmental treasures presented in Canada

“Material” resources

Canada is a very large country, but very sparsely populated. It is therefore particularly rich in lakes, forests and rivers. Water and wood then constitute Canada's main natural resources.

Each year, approximately 39 % trees are cut down to be used for lumber, while the 61 % The remaining ones are intended for the pulp and paper industry. Indeed, wood is a very important environmental treasure for Canadians. This can also be found throughout North America. The main wood-producing provinces are:

• The Northwest Territories;
• Ontario;
• British Columbia ;
• Newfoundland ;
• Quebec.

Water is also a crucial resource for the country. We note that 7.6 % of Canadian territory are covered by rivers, streams and lakes. Among the best known are the rivers of the Rocky Mountains, the Great Lakes, the James Bay region, Niagara Falls and the St. Lawrence River.

“Energy” resources

Canada is also known for being a large producer of gas and oil. These resources are primarily located in Alberta. They can also be found in Saskatchewan, British Columbia and the Yukon. The province of Alberta is the local leader, with a production of 70 % in oil and 81 % in natural gas.

Mines are also very numerous in Canada. The province of Ontario is the country's largest producer of metals. In Alberta, coal is extracted, and in Quebec, Ontario, as well as two other territories, gold. In other provinces, silver, asbestos, lead, copper and zinc are found.

The mining industry represents 10 % of Canada's gross national income. Combustible minerals constitute 55 % of total production.

“Animal” resources

Animals also constitute natural resources for the country.

For example, oceans and rivers provide a wide variety of fish. As for the forests, plains and mountains, they are the habitat of several animal species. Fish and fur-bearing animals are generally used for food, the clothing industry and the making of various objects.

Lobster, salmon and cod are the most exploited marine species on Canadian territory. Lobster and cod are usually fished in eastern Canada, on the coasts of the Atlantic Ocean. Prince Edward Island, Newfoundland, New Brunswick and Nova Scotia are the main operators of the fishery. Salmon is fished in western Canada, on the shores of the Pacific Ocean. But it is also possible to find salmon in rivers and in the Atlantic Ocean.

As for furry animals, the most coveted are:

• Seal ;
• Fox ;
• The Beaver ;
• Mink;
• Lynx
• The wolf.

Bear, moose, caribou, deer and certain species of birds are hunted for their meat, but also for their skin.

Natural bitumen: a representation of nearly 61 % of the value of environmental energy treasures

2020 estimates revealed that energy resources (coal, natural bitumen, crude oil and natural gas) suffered a decline of 77 % compared to 2019.

Natural bitumen, which contributes the most to energy wealth, has decreased by approximately 84 % to reach 63 billion dollars. This drop in value was largely caused by falling prices during the Covid-19 pandemic. Energy resource assets totaled nearly $459 billion in 2019, up from $411 billion in 2018.

This growth of 12 % follows the increase of 7 % recorded compared to the previous year. The increase in energy wealth assets in 2019 was caused by the rise in prices of natural bitumen on the market. Natural bitumen was notably valued at more than 401 billion dollars, which represented 49 % of the total value of resources in 2019.

You should know that the high prices of certain resources such as gold, iron and copper strongly contributed to the increase in the value of mineral resource assets recorded in 2020. The data collected during this year actually revealed that the value of mineral resource assets increased by 59 % compared to 2019, to the tune of $273 billion. The value of natural resource assets, particularly wood, amounted to $173 billion in 2020. This value was revised downward by 7 % compared to $186 billion in 2019.

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