Thank you very much. Good afternoon.
It's my pleasure to appear at committee today on behalf of Cameco Corporation to provide input to your study on Bill C-235.
The bill and the committee's study of it are of particular interest to Cameco. Headquartered in Saskatoon, Saskatchewan, Cameco is one of the world's largest producers of uranium for nuclear energy and is the world's largest publicly traded uranium company. We're uniquely situated with operations across the nuclear fuel cycle, including in mining, refining, conversion and fuel manufacturing. The majority of our operations are located in Saskatchewan and Ontario, and our total Canadian workforce stands at just over 2,900 employees and long-term contractors.
Cameco is a proud and important part of Canada's nuclear and critical mineral supply chains, which deliver reliable, emissions-free electricity in Ontario, New Brunswick, and around the world. Canada's uranium and nuclear fuel sectors already play a significant role in underpinning green, low-carbon economies and are positioned to lead the transition to net-zero emissions by providing highly skilled, well-paying jobs; engaging suppliers in a wide range of skilled trades and expertise; and stimulating innovation in a variety of nuclear disciplines, including small modular reactors.
Cameco is well positioned to provide input to and support the development of a framework for a green prairie economy that considers all forms of low-carbon energy and the role they will play in electricity generation and in industrial and transportation-related emissions reductions.
As the committee considers what building a green economy in the Prairies might entail, we must also recognize that indigenous partnerships and indigenous businesses will play a major role. As you may be aware, Cameco is one of the largest employers of indigenous people in Canada, with about half the workforce at our mines and mills in northern Saskatchewan being residents from within the region. Beyond employment, over 80% of the services used at Cameco's mines and mills in northern Saskatchewan, totalling more than $4 billion since 2004, are procured from northern indigenous businesses.
Our success depends on the long-term, positive partnerships and mutual trust we've built with first nations and Métis communities where we operate, particularly in northern Saskatchewan. A green economy in the Prairies will also require indigenous partnerships and strong indigenous businesses along the entire value chain to maximize future success.
A significant number of economic, energy, environmental and national security policies being pursued by the Government of Canada, including the contents of this bill, are focused on achieving net-zero emissions. It is Cameco's view that there is no path to net zero without nuclear energy. We were pleased to see nuclear energy mentioned in the content of the framework; I might, however, disagree with its characterization as a new source of energy.
Access to significant amounts of reliable, emissions-free baseload electricity is the foundation for any green economy. Current use of nuclear energy worldwide helps the planet avoid some 2.5 billion tonnes of carbon dioxide emissions every year. Cameco is very proud of our contribution to global greenhouse gas reduction efforts from our home base in Saskatoon. Saskatchewan uranium facilitates the generation of clean, carbon-free baseload electricity that will power the transition to a low-carbon economy.
That said, there are mixed signals coming from the federal government regarding the use of nuclear technologies to achieve climate goals and to support the transition to a green economy. The Government of Canada's climate policy framework clearly includes nuclear energy in its clean and low-carbon technology definition; however, recent decisions that excluded nuclear technologies from the tax rate reduction for zero-emission technology manufacturing and Canada's green bond framework send mixed signals to markets and investors.
Nuclear energy is a clean, carbon-free source of electricity. We ask that as the framework for a green Prairie economy is being developed, governments take a technology-agnostic approach and consider all emissions reduction technologies on a level playing field for inclusion in government programs and investments. The most effective path to a low-carbon economy will require the targeted, fit-for-purpose use of all types of zero-emission energy technologies.
Canada's and the Prairies' resource wealth has long been a major driver of our financial health, socio-economic well-being and job creation efforts. The bill's proposal to develop a framework for a green prairie economy could provide an opportunity to enhance and modernize the prairie resource sector's economic contributions and solidify our reputation as a responsible resource developer that meets the standards of ESG investors. Canada's economic prosperity is, to a significant extent, linked to our ability to responsibly and sustainably develop and export our abundant natural resources and the value-added products that are produced from them.
Cameco supports the intent of Bill C-235, which is to work with provincial governments, indigenous governing bodies and the private sector to develop a framework for a green prairie economy. We ask that all zero-emission technologies, including nuclear, be given the same consideration as the framework is being developed.
Thank you.