What is the driving force behind the need for cleantech solutions?
The Paris Agreement was a historic collaboration and commitment between 185 countries to reduce greenhouse gas (GHG) emissions and limit global warming to below 2°C above pre-industrial levels within the century. The urgency and need to address climate change are being challenged by a number of confounding megatrends*, such as rising populations and increasing energy demand. The question is: how can the world continue to grow in a way that is economically, environmentally and socially sustainable? Clean technology, or “cleantech,” is a key part of the solution for achieving both our environmental and prosperity goals.
In Canada, cleantech offers a way for us to meet our climate goal of reducing economy-wide emissions by 30% from 2005 levels by 20301 , while growing our economy and global influence. Global trade in cleantech, as measured by exports, doubled to more than CAD $1.15 trillion from 2008 to 2015. The cleantech industry is expected to continue to grow to $2.5 trillion globally by 20222 . Furthermore, the Canadian government is bullish on its ability to be a leading cleantech economy, with a target to increase cleantech exports to $20 billion annually by 2025 (see Figure 1) 3 . This presents a substantial opportunity for investors to support Canadian cleantech companies in becoming global leaders.
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