On October 2nd, one of Canada’s Big Five banks, the TD Bank, released a report on “green economics” in Canada. TD found that environmental considerations have already become entrenched in corporate decision-making in Canada, and that reducing environmental impact often reduces costs, drives innovation, and stimulates growth. TD’s preliminary analysis indicates a recent “decoupling of economic growth from environmental degradation”, wherein the percentage of GHG emissions per 1% GDP increase has fallen, while improved air and water quality, recycling rates and protected lands have accompanied strong overall growth. The report suggests that in order to better understand and encourage these trends, Canada needs a holistic focus on the “greening of the economy” in all sectors, rather than dichotomizing “green” and “brown” economics. To this end, TD calls for the development of environmental, economic, and government policy, and corporate responsibility indicators to help measure gains across industries and at all levels.
The Greening of the Canadian Economy is at:http://www.td.com/document/PDF/economics/special/TheGreeningOfTheCanadianEconomy.pdfBlueGreen Canada response to the TD Report is at:http://bluegreencanada.ca/blog/we%E2%80%99re-greener-we-think