Backgrounder: Benefits for companies
The government has introduced new legislation to bring in better rules to protect our environment, fish and waterways, rebuild public trust in how decisions about resource development are made, encourage investment, and create new jobs and economic opportunities for the middle class and those working hard to join it.
With these better rules, companies would have more clarity about what is required of them, and project reviews would be more predictable and timely, encouraging investment in Canada’s natural resources sectors. Project reviews would benefit from early planning, where we would clarify how to engage Indigenous peoples effectively, and identify potential issues with project proposals up-front. This will lead to more timely decisions.
Building a Better Impact Assessment System
- Greater efficiency and consistency: a single agency, the Impact Assessment Agency of Canada, would lead all impact assessments for major projects, working closely with regulatory bodies
- Better early planning and engagement to improve project design and provide certainty
- Greater coordination with provinces and territories to reduce red tape and duplication
- Greater transparency, predictability and timeliness in decision-making
- Continued government responsibility for final decisions
- Increased Indigenous participation
- Until new rules come into effect, existing laws and interim principles for project reviews will continue to apply to projects under review.
A New Canadian Energy Regulator
- Modern and effective governance
- Greater transparency, predictability and timeliness in decision-making
- Increased Indigenous participation
- Better planning, more inclusive and earlier engagement
- Energy resources being developed responsibly
- Advancing a clean-growth economy
- Better positioning Canada to maintain its global competitiveness
- Strengthened safety and environmental protection
Restoring Lost Protections to Fish and Fish Habitat
- More comprehensive legal protection for fish and fish habitat
- Proactive measures to restore fish habitats and rebuild fish stocks
- Clearer rules about permit requirements for major development projects
- More consistent guidance for routine projects through use of codes of practice
- A new online public registry to increase access to information and transparency
Protecting Canada’s Navigable Waters
- Greater transparency, predictability and timeliness in decision-making
- A new online public registry to increase access to information and transparency
- Clearer rules about permit and notification requirements for projects affecting navigable waters
- An efficient regulatory system that enables timely decisions on project proposals