CANADIAN CLEAN TECH INDUSTRY – CONTINUED EMPLOYMENT NEEDS INVESTMENT

Ottawa-based research and consulting firm Analytica Advisors released the 2015 edition of its annual Canadian Clean Technology Industry Report    at the Canadian Energy Summit in Toronto at the end of May. The report notes that more than 800 clean tech firms in Canada directly employed almost 50,000 people in 2013 – a growth rate of almost 21% since 2012, making the industry a bigger employer than the aerospace manufacturing sector, logging or pharmaceuticals and medical devices. 20% of workers in the industry are 30 years old or under. While current employment growth is encouraging, continued growth of the sector may not be assured, as the report documents a troubling loss of export markets. U.B.C.’s Sauder School of Business in “ The Ups and downs of Cleantech Venture Capital in B.C.” also casts doubt on the future of clean tech by contrasting the risk-averse culture of Canadian capital markets to that of the U.S. The interview concludes that “Without strategic changes brought on by the private sector and government, business will continue as usual.” – i.e. companies will continue to favour the U.S. over Canada as a place to invest.   Case in point:   the Obama administration announced “More than $4 Billion in Private Sector Commitments and Executive Actions to Scale up Investment in Clean Energy Innovation ” on June 16. Note also the analysis of the U.S. funding by The Guardian which states “.. arguably more important than the $4bn raised was the fine print: a new federal information source and new financing options for would-be investors.”

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