December 17, 2024

By Malorie Bertrand

As the curtain closes on 2024, we’ve been reflecting on what resonated most this year. From groundbreaking research to sharp policy insights, we continue to tackle some of the most pressing challenges of our time: the climate crisis, economic uncertainty and affordability struggles that hit home for Canadians.

This year, our work found its way into the conversations shaping a cleaner, more prosperous and inclusive Canada. Whether it’s the data and policies needed to unleash investments in natural climate solutions or frameworks for building a clean economy that works for everyone, these highlights represent not just SPI’s favourites, but also the collaborative efforts of partners, thought leaders and changemakers committed to a better future.

Here’s a sneak peek of some of our work in 2024—your favorites and ours:

FINANCING CANADA’S NET-ZERO TRANSITION

BLOG POST: Canada’s next step toward a greener economy

Canada took a big step towards a cleaner economy this year by announcing the launch of a green and transition finance taxonomy. This blog post talks about how this new framework will help investors clearly identify what counts as a "green" or "transition" economic activity, aiming to channel funding into meaningful climate solutions. With clearer definitions, this taxonomy will make it easier to align investments with Canada's net-zero goals and avoid greenwashing.

BLOG POST: Can sustainability-linked bonds scale funding for Canada’s low-carbon transition?

Canada needs to ramp up funding to help transition its economy to a low-carbon future. There is now a tangible need to diversify and accelerate its capital flows to meet this transition brief. Although this year saw progress with the announcement of a green and transition finance taxonomy, there is also a need to address how debt-financing tools like sustainability-linked bonds (SLBs) could fit into this context. This blog post dives into how SLBs can drive investments into Canada’s low-carbon transition and what market supports are needed in order for the market to achieve that goal.

IN THE NEWS: From chocolate to home insurance, climate change is making life more expensive

This CBC article discusses the impact of climate change on inflation, highlighting how extreme weather affects global food production and supply chains, driving up costs for essentials like cocoa, olive oil and rice. Geoff McCarney, our Senior Director of Research, emphasizes that climate change will increasingly strain resources, elevate costs and disrupt productivity. The rising frequency of climate-related disasters is also inflating insurance premiums. The piece underscores the need for adaptation measures to mitigate the economic burden of global warming.

Learn more about our sustainable finance work.

FORGING A CLEAN ECONOMY

FUNDING ANNOUNCEMENT: New research funded for 2024

We recently awarded more than $150,000 in funding to six new research projects through our Economics and Environmental Policy Research Network. These projects span diverse topics, from climate-related disclosures to circular and low-carbon construction, aiming to explore innovative solutions at the intersection of environmental and economic priorities in Canada. Each initiative is set to provide valuable insights into building a cleaner, stronger economy.

IN THE NEWS: Amidst broken stations, EV drivers ask, “Why is it so hard to maintain an electrical plug?”

EV drivers are facing challenges at charging stations, including long wait times, blocked chargers and technical issues. Studies show only 70% of charging attempts are successful due to problems like damaged stations or navigation difficulties. This article, which includes a quote from Colleen Kaiser, our Program Director of Governance and Innovation Policy, highlights the lack of "reliability metrics" in early government funding for charging infrastructure as a key issue, emphasizing the need for improved maintenance, reliability and oversight of charging stations while fostering collaboration between automakers and policymakers to meet growing demand.

HARNESSING NATURE’S POTENTIAL

REPORT: Unlocking the economic power of natural climate solutions

This report highlights the significant economic potential of natural climate solutions like grassland conservation and restoration in Canada. It demonstrates how investing in these ecosystems can strengthen local economies, enhance agricultural resilience and support biodiversity. The report also underscores the importance of policy alignment and partnerships across government, industry and Indigenous leadership to scale these investments effectively.

BLOG POST: Saving Canada’s grassland biodiversity

This blog post, published on International Day for Biological Diversity, is about the importance of protecting Canada’s grasslands. Home to a rich tapestry of plant and animal life, and one of the world’s most endangered ecosystems, it argues that to protect this landscape, we must prioritize it in land-use decision-making.

IN THE NEWS: Protectors of Aqviqtuuq

Canadian Geographic wrote an in-depth article in July on the Aqviqtuuq Guardians of Taloyoak, Nunavut, and their work to protect their land. The article mentions data from our Land-use, Nature and Agriculture team’s work on Inuit-led conservation economies.

THE FUTURE OF WORK

REPORT: Skills needs for workers in the growing plant-based protein industry in Manitoba and Saskatchewan

Our Jobs and Skills team spent 2024 spreading awareness of its green skills work. From a presentation with LinkedIn at COP29 to blog posts and reports, this team led a strong campaign to help Canada’s skills ecosystem prepare workers for the green transition. These three reports provide insight into the skills needs for workers in the Prairies’ plant-based protein industry, and what steps can be taken by government, industry and educational institutions to support workers.

BLOG POST: Three ways to maximize investments in green skills training

This blog post highlights the need for green skills training to support Canada’s transition to a low-carbon economy. As new climate-related jobs emerge, Canada must align training programs with industry needs, improve affordability and address barriers to ensure workers can seize these opportunities. Investments in targeted education and accessibility are essential for building a skilled, equitable workforce capable of advancing Canada’s clean energy goals.

IN THE NEWS: Green jobs are abundant. Green workers are not.

This Corporate Knights article says that Canada’s clean-energy sector is creating numerous green job opportunities, but there’s a significant skills gap. Key areas like mining critical minerals and clean-energy infrastructure need skilled workers to support Canada’s low-carbon goals. Hem Dholakia, a Senior Research Associates on our Jobs and Skills team, highlights the opportunity for Canada to build a skilled, inclusive workforce, noting that “by putting in the building blocks of a skilled and inclusive workforce, we would be setting ourselves up for long-term economic growth.” Strategic investments in training and equitable opportunities are crucial to bridging this gap.

Learn more about our green skills work.

So, what does this content tell us? For one, the appetite for solutions is growing. Canadians are asking tough questions about affordability, fairness and resilience in the face of global upheavals—and they’re hungry for answers.

Heading into 2025, we’re taking this momentum with us. If this year was about framing the challenges and laying the groundwork, next year is about action. We’ll continue to work on bold ideas that empower policymakers, business leaders and communities to tackle the climate crisis, unlock economic opportunities and help more Canadians thrive.

As always, we’re grateful to our readers, supporters and partners. You’ve kept us sharp, accountable and inspired in 2024. Here's to building a brighter, greener and more prosperous Canada together in the year ahead.