Canadian Manufacturing

The Bedford Group/TRANSEARCH publishes a compensation report covering cleantech sector

The global export market of clean technology products and services is estimated to have more than doubled since 2015, exceeding $2.5 trillion by the end of this year.

January 19, 2022   by CM Staff

TORONTO and CAMBRIDGE — The Bedford Group/TRANSEARCH announced publication of the 2021 Executive & Board Compensation Report covering the clean technology sectors. Compensation data and insights from over 125 Canadian and international companies were analyzed for this report, including over 550 named executive officers and 810 board members. The data for this report was collected from companies across multiple sectors within the clean technology umbrella, including renewable energy, smart grid technology, sustainable transportation, water and waste management, agri-environment, biofuels and others.

The global export market of clean technology products and services is estimated to have more than doubled since 2015, exceeding $2.5 trillion by the end of this year, according to some estimates. Over the next decade, this market is expected to reach new heights as global economies increase their efforts to tackle climate change.

“In 2021, the job growth rate within the clean technology sectors exceeded that of many other sectors,” said Amrit Sandhu, a senior client partner at The Bedford Group TRANSEARCH who specialized in power and industrial technology. Employers across all industries have been facing the highest talent shortages they’ve seen in over a decade, but this talent shortage has been particularly pronounced in clean technology.

“The shortages in clean technology are being felt at all levels of employment, including trades, support staff, engineers, technicians and other specialists, along with manager and leadership roles,” said Sandhu.

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As a result of both strong sector growth and the global talent shortage, organizations within the clean technology sectors observed significant increases in compensation levels for named executive officers alongside an increase in capital expenditures to push for further expansion. Also observed were significantly stronger equity positions offered, particularly amongst smaller companies.

The compensation report an be accessed here.