Minister Ng announces a joint statement committing to a federal-provincial partnership with B.C. to advance an integrated cleantech market

OTTAWA, ON, Aug. 11, 2021 /CNW Telbec/ - Innovation, Science and Economic Development Canada

The Government of Canada, in partnership with the Government of British Columbia, is working toward a green and sustainable economic recovery that will create good jobs and secure the long-term growth and competitiveness of our economy. Canadian companies and innovators are leaders in the global market for clean technologies, which will help us meet our ambitious climate goals and build a more resilient economy.

Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, and the Honourable Ravi Kahlon, British Columbia's Minister of Jobs, Economic Recovery and Innovation, released a joint statement committing to advancing the development of an integrated market for cleantech innovation in Canada. This is a critical step in supporting the ongoing growth of Canada's burgeoning cleantech sector.

This integrated market will bring together cleantech product suppliers and buyers, making it easier for prospective customers to find the cleantech innovations they need, while supporting growth opportunities for small and medium-sized enterprises (SMEs) in the cleantech community. This market will be an important tool to boost Canadian cleantech commercialization and help cleantech SMEs get a first customer, which is an important step in realizing their export goals of providing their innovations to the global marketplace.

The Government of Canada and the Government of British Columbia have also committed to sharing best practices and lessons learned with other provinces and territories to maximize benefits for businesses and government across the country.

Cleantech offers significant benefits to Canadians, including reduced electricity costs, cleaner air and the creation of more than 211,000 well-paying jobs. It helps us reduce our environmental impacts and will help us meet our ambitious goal of net-zero emissions by 2050. In 2019, cleantech contributed more than $28.8 billion to the Canadian economy, including the export of approximately $7.05 billion in cleantech goods and services.

Quotes

"Canada is a leader in clean technology, and Canadian innovations are a key driver in the fight for a greener and cleaner future. Collaborating with British Columbia on integrated markets for Canadian cleantech innovators will help support a green economic recovery, create thousands of good jobs and build a sustainable future. This is only the first step, as we are committed to working with other provinces and territories to expand the model and help keep Canada at the forefront of the cleantech sector."
– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade

"Canada and BC are global leaders in the clean tech sector. Clean tech innovations are key for Canada's path to a prosperous net zero economy. That's why we have been working and investing in clean tech across the country. Today's announcement is another exciting example of our work to support the ongoing growth of clean tech in Canada and build a stronger and cleaner economy that benefits all Canadians."
– The Honourable Jonathan Wilkinson, Minister of Environment and Climate Change

"B.C. has some of the top cleantech companies in the world that play a crucial role in developing low-carbon solutions that support our CleanBC goals, including growing the hydrogen economy. A made-in-B.C. solution will provide the opportunity to maximize the benefits of cleantech products and innovations to drive the sector forward and help our cleantech companies further compete on a global scale. The marketplace will help create a more inclusive, sustainable and innovative economy that provides good jobs for people throughout B.C."
– The Honourable Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation

Quick facts

• Building on recent investments in climate action and cleantech, Budget 2021 commits $17.6 billion to a green recovery that will create well-paying middle class jobs, build a clean economy and protect against climate change.
• Specific budget measures include $1 billion over five years to leverage private investments toward large, transformative cleantech projects; $5 billion over seven years to increase funding to the Net Zero Accelerator; $24 million over three years to renew the Clean Technology Data Strategy and the Clean Growth Hub; and $21.3 million for the International Business Development Strategy for Clean Technology.
• In December 2020, the Government of Canada also announced a new strengthened climate plan that outlined actions to help Canada achieve its 2030 emissions targets and a net-zero economy by 2050. Among these measures are increased support for Sustainable Development Technology Canada (SDTC) with an additional $750 million over five years, representing the single largest investment made by the Government of Canada in SDTC since its inception in 2001.
• To support Canadians during the COVID-19 pandemic, the Government of Canada introduced the largest relief package in our country's history, including the following major programs for business owners and their employees:
• The Canada Emergency Wage Subsidy (CEWS) is helping businesses cover up to 75% of payroll. Budget 2021 proposed extending CEWS until September 25, 2021.
• The Canada Emergency Rent Subsidy (CERS), available directly to business owners, covers up to 65% of rent. The lockdown support may provide an additional 25%. Budget 2021 proposed extending these relief measures until September 25, 2021.
• The Highly Affected Sectors Credit Availability Program (HASCAP) offers loans at a fixed interest rate of 4% across all financial institutions, for terms of up to 10 years, and the loans are 100% guaranteed by the Government of Canada. Businesses will be able to apply through to December 31, 2021.
• Budget 2021 introduced more funding to help businesses make a strong recovery from the pandemic as the economy safely reopens. Highlights include:
• the Canada Recovery Hiring Program to help rehire and hire staff
• changes to the Canada Small Business Financing Program to provide more access to loans

Associated links

• Joint Statement: The Government of Canada and the Government of British Columbia announce a partnership to accelerate integrated clean technology markets in British Columbia and beyond.
• Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience
• Clean technology: Canada's clean technology plan, investments and innovations for a clean growth future
• A Healthy Environment and a Healthy Economy: Canada's strengthened climate plan to create jobs and support people, communities and the planet
• Greening Government Strategy: A Government of Canada Directive
• CleanBC: Reducing Pollution. Powering Our Future.
• B.C. Hydrogen Strategy: A sustainable pathway for B.C.'s energy transition

Stay connected

Follow @CanadaBusiness on social media for business-related news: Twitter, Facebook

SOURCE Innovation, Science and Economic Development Canada

Alice Hansen, Press Secretary, Office of the Minister of Small Business, Export Promotion and International Trade, 613-612-0482, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]

Related Links

http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home