The Cleantech Advantage
‘Cleantech’ is an overarching classification of technologies that cut emissions and reduce the consumption of natural resources. The development of cleantech is touted as one of the most effective ways to tackle climate change. Globally, it is already a trillion-dollar industry, gaining significant traction in recent years. Cleantech research by Eco Canada states that investments, activities, and jobs in clean technology are expected to grow further, likely exceeding $2.5 trillion by 2022. Canada’s cleantech sector ranks 4th in the world and now leads the G20 countries according to the 2017 Global Cleantech Innovation Index. Canada is a strong innovator and producer of cleantech solutions and is well positioned to seize opportunities both domestically and internationally. Cleantech is playing a critical role in Canada’s transition into a low-carbon economy.
Canada’s Commitment to Cleantech
Canada is supporting clean technology growth across the economy by allocating funding for various programs including the following funds:
- Low Carbon Economy Fund – leveraging investments in projects that will generate clean growth and reduce GHG’s
- Strategic Innovation Fund – supporting firms of all sizes across all sectors through R&D, growth, expansion, large scale investments, and advanced industrial research
- Sustainable Development Technology Canada (SDTC) SD Tech Fund – supports the development and demonstration of pre-commercial cleantech
- Impact Canada: Clean technology – innovative funding approaches to solving Canada’s big challenges.
In addition to direct funding towards R&D, infrastructure development, and innovation, the Government also allocates funding to assist with international market development activities, and funding to support manufacturers in Southern Ontario looking to complete a technology assessment to improve their systems, processes, and equipment.
Review our funding page to learn more about cleantech funding opportunities and contact us to learn how Clean Conduit can leverage funding opportunities for your company.
Ambitious Growth Targets
To meet these commitments and drive growth in the clean economy, Canada’s 2021 Federal Budget commitments include $5 billion over 7 years to cleantech growth, including supporting research, development, adoption and scaling up cleantech business and companies. By 2025, the Government’s vision is to see Canada’s globally competitive cleantech sector transform industries and improve environmental outcomes both nationally and globally. While Canada’s domestic cleantech sector is smaller, the Government poses ambitious targets for our export growth, specifically stating that by 2025, clean technology will be one of Canada’s top five exporting industries, nearly tripling current value to $20 billion annually in exports.
Going Global
EDC explores the importance of export sales for Canada’s cleantech industry, explaining in a report that Canada’s domestic market offers many opportunities to cleantech firms, however, the sector’s long-term strength depends on how effectively Canada can use exports to diversify into global cleantech markets like the U.S., Europe, and China. Expanding cleantech globally is one of Canada’s most significant goals, positioning Canada as a leader in the global economy with world-class innovation and a highly skilled and mobile workforce. Learn more about how Clean Conduit works with CanExport to provide your company with a variety of consulting and advisory services to facilitate foreign market penetration.
Information Directory
EDC Cleantech Export Week digital conference: October 25th, 2021
