Below is part of the news release from the FPT ministers meeting last week. They’ve reached an agreement and inject new funds to support the sector.
This week, the federal, provincial, and territorial (FPT) Ministers of Agriculture reached an agreement in principle for the Sustainable Canadian Agricultural Partnership at their Annual Meeting in Saskatoon, Saskatchewan. This new five-year agreement will inject $500 million in new funds, representing a 25% increase in the cost-shared portion of the partnership.
To enhance economic sustainability, Ministers agreed to improve Business Risk Management (BRM) programs, including raising the AgriStability compensation rate from 70% to 80%. Under the cost-shared envelope, they agreed in principle to the $250 million Resilient Agricultural Landscape Program to support ecological goods and services provided by the agriculture sector.
The new agreement includes stronger targets such as a 3-5 MT reduction in greenhouse gas emissions, increasing sector competitiveness, revenue and exports, and increased participation of Indigenous Peoples, women and youth. There will also be a focus on measuring the results of framework investments.
The agreement, which will require appropriate authorities by each jurisdiction, will mark an ambitious path forward to advance the five priorities agreed to in The Guelph Statement. It will position our sector for continued success as a world leader in environmentally, economically and socially sustainable agriculture. It will enable an innovative and productive internationally competitive sector that can continue to feed Canada and a growing global population at a time when rising costs and global food security are significant concerns.
To read the full announcement click here
The five priorities are:
- Tackling climate change and environmental protection to support GHG emission reductions and the long-term vitality of the sector while positioning producers and processors to seize economic opportunities from evolving consumer demands
- Continued and targeted investments in science, research and innovation to address key challenges and opportunities
- Supporting sustainable agriculture and economic growth by creating the conditions for Canadian businesses to meet evolving challenges of the interconnected domestic and global marketplace
- Building sector capacity and growth through realizing the potential of value added agri-food and agri-products
- Enhancing resiliency to anticipate, mitigate and respond to risks including a robust suite of BRM programs.