Plant: We need to turn tech leadership into real value for manufacturers

Jayson Myers, CEO, NGen

Canada is one of the world’s leaders in cleantech – the broad array of innovative technologies that provide solutions for pollution abatement, energy efficiency, climate change mitigation and adaptation, waste management and remediation, or anything that reduces the environmental footprint of economic activity.

Canada ranks number two in the world on the Global Cleantech Innovation Index. There’s a lot of research happening in the field by industry and academia. Twelve Canadian start-ups are listed among the Global Cleantech 100 list for 2023. There are over 1,100 cleantech companies operating in Canada. They contribute over three per cent of Canada’s GDP and employ close to 350,000 people in well-paying, highly-skilled jobs. The global cleantech market is currently estimated at over $2.5 trillion USD.

However, opportunities are huge, led by increasing demand for clean energy solutions in Canada and internationally. Heavy industry accounts for 11 per cent of Canada’s greenhouse gas emissions but about one-third of emissions around the world. Electric vehicles are expected to account for over 45 per cent of all new light-duty vehicle sales globally, up from four per cent in 2021. All things considered, the transition to a net-zero economy globally will require global investments averaging $3.5 trillion USD and in Canada between $125 billion and $150 billion every year to 2050.

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Jayson Myers, the CEO of Next Generation Manufacturing Canada, an award-winning business economist and advisor to private and public sector leaders. E-mail jayson.myers@ngen.ca. Visit www.ngen.ca.

This article originally featured in Plant. Read the full version here.