Good credit rating for GNWT

Moody's Investors Service kept the GNWT's credit rating for long-term investments at Aa1, even after the territory assumed the $165 million debt related to the Deh Cho Bridge, according to the finance department. Moody's highest possible credit rating is Aaa - one level above the Aa1 rating given to the GNWT.

Finance Minister J. Michael Miltenberger said in a press release the credit rating provides assurance the territory's "fiscal plans are sound, even with the assumption of $165 million in debt related to the Deh Cho Bridge."

Economic development committee chair steps down

Uqsuqtuuq/Gjoa Haven - Walter Porter stepped down as the chair of the economic development committee last month, about a year after taking the post.

The lifelong Gjoa Haven resident said he left because he felt he couldn't accomplish much as the committee's chair. Decisions from the five person committee - two councillors and three committee members - could always be overruled by the hamlet's council, he added. Porter said this put him at odds with the hamlet council at times.

"For me, they were not always right in what they had to say," he said, adding he had a good sense of what was needed in the community. "We did what we could. We tried to get involved. It was just not working for someone like myself."

Agreement for Mackenzie Highway

Tulita/Norman Wells - The territorial government along with four organizations have agreed to complete a project description report for the construction of the Mackenzie Valley highway in the Tulita district of the Sahtu settlement area.

The GNWT, the Tulita Land District, the Norman Wells Corporation, the Fort Norman Metis Land Corporation and the Tulita Dene Band will work on the project description report for the proposed 265-kilometre stretch of highway running through the Tulita district. The study will ensure all necessary issues and factors are considered before the environmental assessment and regulatory review process starts.

The signing brings the NWT closer to the eventual construction of the Mackenzie Valley highway, Minister of Transportation Michael McLeod said in a press release.

Summit Air to offset carbon emissions

Summit Air Charters is working to reduce and eventually offset its carbon emissions as it aims to become the first carbon neutral airline serving the North.

Partnering with Offsetters, a Canadian organization that helps individuals and companies reduce and offset their climate impact, Summit Air is working with the company to better understand their carbon footprint.

The airline will now work to reduce and eventually offset its carbon emissions generated by both its corporate and flight operations.

The cost of reducing and offsetting carbon emissions will be included in charter fares on a per mile basis. Summit Air's ultimate goal is to become carbon neutral.

Feds react to closure

The Mackenzie Gas Project Office reacted to the permanent closure of the four offices of the Northern Gas Project Secretariat scheduled to close later this month.

Ashleigh Wilson, manager of media and public relations at Environment Canada, said as the Mackenzie Gas Project will be delayed another two years, "federal resources are being allocated accordingly."

She added the secretariat's closure should not affect the project itself.

Seven employees - five full-time and two part-time - will be affected by the closure of the secretariat's offices in Yellowknife, Inuvik, Norman Wells and Fort Simpson at the end of April. The secretariat has four employees in Yellowknife, and one each in Inuvik, Norman Wells and Fort Simpson.

The Mackenzie Gas Project will begin operations in 2018 at the earliest, pushing back construction of the $16.2 billion pipeline to sometime after 2013, Imperial Oil and its pipeline partners announced last month.