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 July 20-22. This new five-year agreement will inject $500 million in new funds, representing a 25 per cent 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 per cent to 80 per cent. 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 the ag 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.
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