Growing Sustainably

Direction: Stuck

Risk: High

Pace: Medium

The Coalition believes in achieving net zero by 2050.

We believe that all segments of society – businesses, governments, and the not-for-profit sector – must take ownership.

They must be accountable for the long-term economic well-being of the nation. To do that, we need to ensure our policy path is sustainable and not focused on short-term results that threaten better outcomes in the future.

That starts with putting the environment at the forefront of policy. Businesses and governments must ramp up efforts to reduce the nation’s carbon footprint. A greener economy will only enhance our economic competitiveness.

But sustainable growth also means ensuring an investment-first mindset for economic growth that avoids easy and quick fixes to complicated problems.

Growth at a glance

Aspirational targets have been set across the three pillars to attain long term, inclusive and sustainable growth.

GHG emissions per unit of GDP

The Coalition believes in achieving net zero by 2050 and the data show we’ve made progress.

According to the latest government data available, Canada’s greenhouse gas emissions were 670 megatonnes of carbon dioxide equivalent in 2021, down 53 megatonnes from 2019 levels.

Why it matters

Reaching our target will depend on a finely balanced policy architecture that keeps emissions falling without jeopardizing economic growth. Changes that are too drastic could undermine public support, while not going fast enough isn’t an option.

Source: World Bank

Climate change

Primary energy supply from zero-carbon sources (%)

Canada also has a higher share of renewables and non-emitting energy sources than most peers in its energy consumption mix thanks to hydro and nuclear.

Clean-tech contribution to GDP ($)

Growth in Canada’s clean technology sector has slowed since the start of the pandemic. Its share of the overall economy is shrinking.

Economic Resilience

Global ranking for financing of SMEs

The global ranking for this KPI has not been updated since 2019 by the World Economic Forum Global Competitiveness Index.

Current trade account

Rising global energy prices have helped Canada approach balance in its current account.

Households with access to broadband (%)

In 2023, the share of rural communities with broadband was at 62 per cent, an increase from the previous year. Additionally, access to mobile LTE — a 4G technology — is already relatively balanced and equitable between rural and urban areas.