Alberta Energy Transition Study forecasts cleantech could contribute $61 billion to GDP and create tens of thousands of jobs by 2050
CALGARY, AB and EDMONTON, AB, Dec. 7, 2021 /CNW/ -
Media availability: Calgary Mayor Jyoti Gondek and Brad Parry, Interim President & CEO, Calgary Economic Development, will be available to discuss the Alberta Energy Transition Study via Zoom from Houston, where they are attending the 23rd World Petroleum Congress. Time: Tuesday, Dec. 7, 1:30 p.m. CST/ 12:30 p.m. MST. Link: Zoom Registration |
The global energy transition could create 170,000 jobs in the cleantech sector in Alberta and contribute $61 billion to GDP by 2050, concludes the Alberta Energy Transition Study conducted for Calgary Economic Development and Edmonton Global.
The study found that both Calgary and the Edmonton region are uniquely positioned to be leaders in a transition to a lower carbon economy with our growing cleantech ecosystem, world-class resources and infrastructure, a long history of industry collaboration and investment, and a deep pool of specialized talent.
The study – conducted by three organizations: Delphi Group, Foresight Canada and Cleantech Group – concluded to fully capitalize on the opportunity, Alberta will need to invest more than $2.1 billion a year in cleantech by 2030, increasing to $5.5 billion by 2040.
Alberta companies are leaders in cleantech investment in Canada, but the current level of investment is less than $1 billion annually. Without investment levels that are aligned with global commitments to net-zero, the study forecasts the cleantech sector would only generate 20,000 jobs and $4 billion in GDP by 2050.
The study identified six subsectors from the 16 across the cleantech ecosystem in the province that have the greatest potential to attract foreign direct investment, create quality jobs and help launch new companies:
The Calgary-Edmonton Innovation Corridor is positioning the province as a leader in digital transformation. Calgary is rated as one of the Top 15 Cleantech ecosystems globally and Edmonton was ranked the fastest growing tech ecosystem in North America between 2015 and 2020. Ensuring we are a leader in energy transition is a focus of the economic strategy Calgary in the New Economy and Edmonton's Community Energy Transition Strategy.
Alberta is known as a location for people who want to use technology to solve global challenges and the Alberta Energy Transition Study showcases the opportunities for sustainable, long-term growth and quality jobs for future generations.
Of the 945 cleantech companies in Alberta, 462 are headquartered in Calgary and 429 in the Edmonton region. The sector employs more than 14,600 directly in cleantech roles with 137,000 people working in the broader cleantech ecosystem.
Among Alberta's cleantech ventures, 51 per cent are led by first-time founders, 32 per cent have a trades background, 28 per cent are born outside Canada, and 22 per cent are female, versus 15.6 per cent nationally.
Nearly two-thirds of Alberta's more than 210 pureplay cleantech startups seek customers in the oil and gas sector; over 50 per cent in power and utilities, and one-third in agriculture, mining, or manufacturing.
The report and supporting documents are available through either the Calgary Economic Development or Edmonton Global website:
Calgary Economic Development |
Edmonton Global |
QUOTES
"As the heart of Canada's energy sector and home to the biggest concentration of Alberta's cleantech companies, Calgary is positioned to be a leader in the race to net-zero. With the commitment from key industry players, we are poised to create jobs, grow the economy and protect the environment."
Calgary Mayor Jyoti Gondek
"As a global leader in clean energy technologies such as hydrogen, digital innovation and carbon capture, the Edmonton region is ready to welcome global partners to join us in our energy transition."
Edmonton Mayor Amarjeet Sohi
"Alberta's energy sector leads the world in innovation and cleantech. Tens of thousands of workers across the province are working in cleantech today, and there will be opportunity for many more and billions in dollars of investment in the coming years. With new advances in emissions reduction, technology and new industries like hydrogen, Alberta will be a global leader for decades to come."
Doug Schweitzer, Minister of Jobs, Economy and Innovation
"Calgary's vision is to be the destination of choice in Canada for innovators to solve the greatest global challenges, including the energy transition. The pursuit of net-zero is the right path forward to make a global impact, create meaningful jobs and grow the economy."
Brad Parry, Interim President & CEO, Calgary Economic Development
"This report is more evidence that the Edmonton Metropolitan Region has what it takes to radically transform and grow our economy. We are actively seeking to attract forward-looking companies who share in our vision of investing in innovation and technology that helps the world get to a net-zero future."
Malcom Bruce, CEO, Edmonton Global
ABOUT CALGARY ECONOMIC DEVELOPMENT
Calgary Economic Development is an opportunity-maker, helping to spark and fuel Calgary's growth. Our job is to connect people with resources that can help them grow their careers or businesses, thrive in new locations or markets, and feel at home in our community. We offer a wealth of information to help everyone succeed and we tirelessly promote Calgary, in Canada and around the world. We're exhilarated about our role in shaping and sharing Calgary's story and we're proud to be part of the energy. For more information, please visit our website at www.calgaryeconomicdevelopment.com and follow us on Twitter @calgaryeconomic.
For more information contact:
Yasmin Jaswal
Coordinator, Corporate & Social Communications
Cell: 403 880 7040
Email: [email protected]
ABOUT EDMONTON GLOBAL
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. Our work promotes the region globally and we're focused on attracting and retaining business investment and trade right here. We are the first ever regional economic development corporation in the region, working to create local, regional, provincial, national, and global partnerships. For more information, please visit www.edmontonglobal.ca.
For more information contact:
Chris McLeod
Vice President, Global Marketing & Communications
Cell: 780 499 4517
Email: [email protected]
SOURCE Calgary Economic Development Ltd.
Calgary Economic Development is an opportunity-maker, helping to spark and fuel Calgary's growth. Our job is to connect people with resources that can help them grow their careers or businesses, thrive in new locations or markets, and feel at home in our community. We offer...
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