As the World Bank calls for bold expansion in global seafood production, Canada is steering BC salmon farmers toward unproven and unviable small-scale land-based fish farms.
By Fabian Dawson
SeaWestNews
Even as the World Bank champions aquaculture as a cornerstone for sustainable economic growth and global food security, salmon farming in British Columbia finds itself trapped in a policy quagmire that threatens its future viability.
The World Bank report, “Harnessing the Waters: Sustainable Aquaculture”, presents aquaculture as the fastest-growing food production sector, with a potential $1.5 trillion investment opportunity capable of generating 22 million new jobs worldwide by 2050.
The report analyzes investment trends and financial mechanisms shaping the industry’s future, concluding that aquaculture’s growth potential requires a significant transition from small-scale to more intensive production.
“Aquaculture is shifting from a niche to a mainstream investment strategy, offering diversification and strong long-term returns,” said the report, adding green financing is reshaping values in the sector.
“A “business-as-usual” growth forecast projects an additional 60 million metric tons of annual aquaculture production over the next 25 years. On the other hand, an upside growth scenario involving targeted investments projects an additional 97 million metric tons of annual production over the same period.”
The report was done in conjunction with the World Wildlife Find (WWF) and the Gordon and Betty Moore Foundation.
Yet, as countries around the world take the cue to scale up aquaculture, Canada’s West Coast is moving backwards, say BC’s salmon farmers.
Ottawa’s pending 2029 ban on marine net-pen salmon farming, primarily pushed by activists, aims to force the industry from a proven large-scale ocean operations, that have minimal impact on wild stocks, back to untested and economically impractical small-scale land-based systems, they said.
This week, that concern was reinforced by a government-commissioned study, which confirmed that land-based salmon farming is not viable at scale in British Columbia.
The report cited massive capital costs, limited access to suitable land, insufficient freshwater supply, and a fragile power grid as major barriers. It warned that scaling up to replace current provincial production would require at least $2 billion in investment and a decade of development, under the best-case scenario.
Even then, the environmental trade-offs, including dramatically increased energy use and greenhouse gas emissions, would undermine Canada’s goals of sustainable food production.
Reacting to the report, the BC Salmon Farmers Association (BCSFA) said it remains alarmed that the scheme to replace current modern marine net-pen salmon farming with closed-containment technology in British Columbia continues to be unrealistic, especially in the context of the current global business environment.
“Ongoing instability in the business environment in BC due to tariffs and the federal ban on marine net-pen farming licences past 2029 has created an unattractive investment environment, with numerous development projects and resources in new technologies being shelved,” said BCSFA, a statement.
“This severe uncertainty for the global investment community means these capital funds will be out of reach for Canadian salmon farmers in the foreseeable future.”
The BCSFA pointed out that a key finding from the joint government report this week shows that the best approach to farming is to choose the best site and the best technology with a proven track record to sustainably farm nutritious, affordable salmon.
“In BC, this means utilizing land-based freshwater hatcheries and modern marine net-pens systems to grow healthy, affordable, high-quality salmon with a lower environmental impact,” said the BCSFA.
Industry experts, government fisheries scientists, the Western Canada business community and Indigenous leaders in the salmon farming sector are unified in their call to Prime Minister Mark Carney to abandon his predecessor’s ideological course and adopt policies based on science, sustainability, and socioeconomic responsibility.
If the Trudeau-era plan to ban open-net salmon farms proceeds, taxpayers could be on the hook for up to $9 billion in compensation to affected salmon farmers, suppliers, and First Nations, states an economic analysis.
By contrast, if Prime Minister Mark Carney’s administration chooses to support BC.’s salmon farmers and their First Nation partners, the sector has outlined a plan to deliver $2.5 billion in economic output, add $930 million to GDP, and create 9,000 jobs generating $560 million in wages.
(Main file image shows a fish processing plant worker courtesy of Mowi)