|

New Economy Canada Unites Business, Indigenous and Labour Leaders to Boost Canada’s Economic Competitiveness

November 21, 2023

New Economy Canada Unites Business, Indigenous and Labour Leaders to Boost Canada’s Economic Competitiveness

New Economy Canada brings together diverse industrial sectors with prominent labour and Indigenous organizations

Securing Canada’s long-term competitiveness in a quickly decarbonizing global economy is the focus of New Economy Canada, a newly launched non-partisan initiative uniting business, Indigenous and labour leaders at the forefront of this transition.

With over 45 members, New Economy Canada brings together diverse industrial sectors with prominent labour and Indigenous organizations, including Teck Resources Limited, GE Vernova, EllisDon, Siemens Energy, First Nations Major Projects Coalition, International Brotherhood of Electrical Workers and more. For a list of member organizations and the advisory committee, visit NewEconomyCanada.ca.

“A commitment to doing more, faster is what unites New Economy Canada’s members. Together, these business, Indigenous and labour leaders are the face of Canada’s new economy,” said Merran Smith, President, New Economy Canada. “Canada has what it takes to compete and win in the new clean economy now taking shape at home and around the world. But we need to step up and stand out to secure this prosperous future. Our diverse members share the view that to compete and win, we must proactively embrace change and the opportunities that come with it, and be laser-focused on action.”Merran Smith, President, New Economy Canada

Members are calling on Canadian political leaders to advance economic reconciliation with Indigenous nations as a critical part of the country’s economic transition, increase the supply of clean energy and related infrastructure, acknowledge the importance of key policy tools, accelerate investments in skills training for workers so they can find well-paying jobs, and continue to support clean innovation to ensure Canadian competitiveness across industrial sectors.

A significant development highlighted in the latest data from BloombergNEF’s (BNEF) Energy Transition Tracker is that annual investments in the energy transition have seen a remarkable threefold increase over the last decade. A decade ago, these investments were primarily directed towards renewable energy sources such as solar and wind. However, the investment landscape has undergone a substantial transformation since then, with energy transition investments also flowing into energy storage, electrified transport, electrified heat, carbon capture and storage (CCS), hydrogen and sustainable materials.

Canada’s energy focus has broadened to include not only traditional renewable energy projects but also sectors related to electrified transportation, notable in battery technology and electric vehicle manufacturing. There has also been a marked increase in electrified heat, mainly through investment in heat pumps. This diversification and growth in investments underscores the evolving commitment to building a sustainable and diverse new economy.

New Economy Canada will be hosting its next event with provincial policy-makers in Victoria, B.C., on November 22 and 23, 2023, where it will encourage action on the economic transition. Additional New Economy Canada events in Toronto and Ottawa will follow in 2024, with further details to be announced.

New Economy Canada Unites Business, Indigenous and Labour Leaders to Boost Canada’s Economic Competitiveness
The graphic above demonstrates historic investments in the energy transition in Canada from 2004 to 2022.

Source

Related Stroy

Nexii Building Solutions – Reinventing the Way the World Builds

Nexii Building Solutions is a green construction company that is reinventing the way the world builds. It designs and manufactures high-performance green buildings and building products that are sustainable, cost-effective, and climate resilient. In this article, we sit down with Zosia Brown, VP of Sustainability, Nexii Building Solutions, to discuss the company’s innovative technologies and how it is breaking new ground and going beyond expectations.

Related Articles


Latest Articles

  • Rockwell’s Three Smart Factory Trends that Pay Big Dividends

    February 13, 2025 Networked motor control center technology accelerates ROI, productivity, savings & safety. Rockwell Automation has seen manufacturers around the globe investing billions of dollars in smart manufacturing and production plants. Industry experts project the demand for smart factories will double by 2032 to $322 billion because of the increased return on investment. At the heart… Read More…

  • Tariffs – Can You Look Within? 

    February 12, 2025 OPINION By Swathi Mohan, Founder of Leanacle Inc. I was standing backstage at a company townhall, running through my talking points, but my mind was elsewhere. Will they be engaged? Will they relate to what I’m saying? What if I lose them halfway through?  The more I thought about it, the more anxious… Read More…


Featured Article

Revolutionizing Material Movement with Autonomous Mobile Robots

Revolutionizing Material Movement with Autonomous Mobile Robots

In today’s fast-paced manufacturing and logistics industries, the need for efficient and flexible material movement solutions has never been greater. Traditional methods like conveyor systems, forklifts, and manual pushcarts have served us well, but they come with limitations.

That’s why Omron is thrilled to announce the launch of their game-changing MD Series of Autonomous Mobile Robots (AMRs). Read more


Products

  • POSITAL Announces Ultra-Heavy-Duty Absolute and Incremental Rotary Encoders

    February 12, 2025 POSITAL has introduced a new series of IXARC rotary encoders designed for applications where high shaft loadings may be encountered. With heavy-duty housings and shaft bearings, these units are designed to withstand radial shaft loads of up to 350 N (80 pounds) and axial loads as high as 250 N (56 pounds),… Read More…

  • POSITAL Announces Upgrades to IXARC Incremental Rotary Encoders

    February 12, 2025 Higher resolution opens possibilities in new application areas POSITAL has enhanced its IXARC family of incremental magnetic encoders, increasing the maximum resolution to 32,768 pulses per revolution (PPR). This upgrade includes new phasing options, offering a choice of wider index (Z) pulses, making it easier to replicate the features of older encoders… Read More…