What is the role of cleantech innovation in the journey toward achieving net-zero emissions? How does it fit into the broader strategy for addressing climate change?
Investment in clean technology is a key component of Canada’s approach to promoting sustainable economic growth. Cleantech has the potential to remediate or prevent environmental damages and improve the lives of Canadians through technologies that are less polluting or more resource efficient.
They will also play a critical role in helping Canada achieve its 2030 and 2050 climate targets, while building a more competitive and low-carbon economy for Canada.
The rapid scale-up and adoption of clean technologies that are ready for deployment across economic sectors, such as battery-powered electric vehicles in transport and methane reduction technologies in oil and gas, will make an important contribution to enabling Canada to reach its 2030 emissions reduction commitment.
To accelerate the transition to clean growth, our government is investing in cleantech research and development, commercialization and scale-up, in addition to introducing measures to encourage the adoption of clean technologies across other sectors.
Budget 2023 announced new initiatives that will help Canada transition to a low-carbon economy, such as an additional $500 million to the Strategic Innovation Fund for clean technology, and the re-alignment of $1.5 billion of its existing resources toward projects in clean technologies, critical minerals, and industrial transformation, among others.
By focusing on innovation, investing in cleantech and creating green jobs, our government is growing a sustainable and competitive economy for present and future generations.
As we work toward a sustainable future, collaboration between government, industry and research institutions is crucial. How is your ministry fostering partnerships to accelerate the development and deployment of cleantech solutions?
Collaboration helps to accelerate the development and deployment of clean technology solutions. Innovation, Science and Economic Development Canada is fostering collaboration through the Clean Growth Hub, an initiative co-led by ISED and Natural Resources Canada. The Hub is dedicated to helping Canadian cleantech innovators and adopters navigate federal programs and services most relevant to their needs.
Recognizing the widespread application of clean technologies and the wide scope of challenges faced by cleantech stakeholders, the Hub collaborates with its 17 federal member organizations to provide tailored advice to clients. This includes advice on funding programs, procurement, IP protection, and regulations, as well as technical and business advisory support. Since its creation in 2017, the Hub has served more than 2,700 small and medium sized enterprises across Canada.
ISED also created the Industrial Decarbonization Team (IDT) to support large-scale clean energy and decarbonization projects through enhanced collaboration across departments on federal programs and regulatory issues. The IDT acts as a central point of contact with our government for project proponents working on large-scale industrial decarbonization projects. It assesses and provides advice on projects that require more tailored support in view of their complexity and ability to accelerate Canada’s path to a competitive, net-zero economy.