Federal Budget Allocates $11M to CIRNAC for Arctic Offshore Governance
What happened
The federal budget allocated an $11-million, four-year line item to Crown-Indigenous Relations and Northern Affairs Canada. This funding is designated to support the governance and oversight of offshore oil and gas activities in the Arctic Ocean. This allocation tops up existing funding for governance under the 2023 Tariuq Accord. A Finance Canada spokesperson noted the new funding includes consideration of potentially lifting the current moratorium on Arctic offshore oil and gas exploration in the Western Arctic.
From torontotelegraph.com
Why it matters
The funding supports the governance structure related to the Inuvialuit Regional Corporation’s offshore activities. The potential lifting of the decade-old drilling moratorium could change the scope of resource development in the co-management area.
From torontotelegraph.com
Who's involved
- Crown-Indigenous Relations and Northern Affairs CanadaReceives federal funding to govern and oversee offshore oil and gas activities in the Arctic Ocean.
- IRCIs involved in the 2023 Tariuq Accord, a co-management agreement for offshore activities.
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The entities involved
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Crown-Indigenous Relations and Northern Affairs Canada
department of the government of Canada
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IRC
nonprofit organization in the Hague, Netherlands
Nothing else this week.