In February 2019, Global Cleantech Innovation Index ranked Canada as the fourth of ten countries in its dedication to clean tech innovation.
Over recent years, Canada has worked hard to set itself up to be a global leader in clean technology – particularly in the oil & gas sector. Clean technology companies have partnered with oil and gas organizations to change economic and environmental issues surrounding the Canadian oil and gas sector.
Canada is quickly kicking off an unprecedented scene of environmental competitiveness in energy efficiency, digitization, resource recovery and transport. Fortunately, Canada is already a leader in the world of energy, which has helped to position it for success in the growing sector of clean tech.
Canada’s oil and gas sector has already been a large contributor to the business of clean tech in its country, which has only helped to set up the clean tech business for success. Once these businesses thrive and are commercialized, they will soon be able to contribute low-carbon solutions to a variety of other sectors aside from just oil and gas.
Going global
In its effort to be clean tech sustainable, Canada must expand its strategies onto the global scale. Fortunately, Canada is the only G7 country that has free trade agreements with every other G7 country; but what does this mean exactly? G7 countries, or countries that are part of the Group of Seven, are dedicated to addressing urgent global issues.
Along with its G7 status, Canada has 14 free trade agreements that cover more than 50 countries and give it access to over 1.5 billion consumers. Together, these two factors can help Canada achieve its desired results in the global sector of clean tech. However, global reach can only do so much in a world where everything comes at a cost. In 2017, the Canadian federal government gifted a total of $2.3 billion over a span of four years that would be dedicated to helping Canadian clean tech firms succeed in the global market.
Canada has plenty of expansion opportunities in a variety of countries around the globe. In the U.S. for example, Canada can expand into Colorado as its core resource is much like that of Canada’s – primarily oil and gas. However, expansion opportunities are arising even further from home, as Guyana and Surname are on the hunt for green technology in oil and gas.
In 2016, China announced its high standards for emission control in its five-year plan spanning from 2016 to 2020. With commitments like this, Canada is quickly becoming the central point for other countries who are searching for clean tech solutions.
Close to home
Not only is Canada becoming the clean tech powerhouse with its 800 industry-related companies, but Calgary is quickly becoming the country’s source of environmental firms. In February 2019, Sustainable Development Technology Canada, a company that works alongside Canadian companies to introduce clean technology to market, committed $13 million to the growth of Calgary-based clean tech companies. Not only are these companies dedicating their efforts to green solutions, but amidst their work they are supporting economic growth, creating work and contributing to the protection of the environment we all share.
Resources
Information on the above topic was pulled and summarized from the following articles:
https://www.jwnenergy.com/article/2019/8/canada-poised-be-leader-cleantech-oil-and-gas-innovation/
