Gavin Pitchford
As we await the next bump in COVID infections, one thing is clear – there has never been an opportunity like this to take stock and contemplate where Canada goes from here. An ideal “clean reset” recovery would include supporting industries and jobs not tied to commodity prices over which Canadians have no control – or a commodity from which investors and consumers increasingly seek to distance themselves.
Rather, we have this one incredible shot to do it right this time – for governments, industry and investors to invest in shovel-worthy projects. Not an extra lane on a highway, but instead, the low-carbon economy and the industries of the future: cleantech, renewable energy, zero-emissions transportation, building energy retrofits and municipality climate adaptation upgrades.
Studies show that a million dollars spent in the fossil fuel sector drives 2.7 jobs. A similar repayable government investment into a building energy retrofit fund, for example, would create 14 jobs. Leveraged properly, in renewable energy, one million would release another three million in private capital and create 28 jobs – none dependent on the price of oil. This golden opportunity is there: we need to decide now where we want to be in six months – and in 10 years.
Advertising feature produced by Randall Anthony Communications. The Globe’s editorial department was not involved in it’s creation.