October 23, 2019

By Stewart Elgie & Mike Wilson

Public polling told us that climate change was a top priority for Canadians leading into Monday’s federal election. So it is no surprise that the majority of Canadians voted for the parties and the candidates that proposed the most ambitious climate action and environmental protection (64.6% of the popular vote), resulting at the end of the day in a minority Liberal government.

At Smart Prosperity Institute, we see this result as a renewed opportunity to advance policies that are designed not only to protect our environment but also to build a stronger, cleaner economy. Because research shows that fighting climate change, protecting biodiversity and advancing a circular economy for plastics can be as much a recipe for jobs and economic growth as it is for environmental stewardship.

SPI will harness our world-class policy and economic research capacity to support ambitious government policies, including things like:

• investments in clean innovation, so that Canadian entrepreneurs can continue to crack the top 10 in a soon-to-be $2.5 trillion market
• market-based approaches to tackle environmental problems (like climate, water, waste) at the lowest economic cost and spur growth and innovation
• smart tax reforms, like accelerated capital cost allowance for clean tech, to make clean investments more affordable and attractive to businesses
• economic and finance tools that incentivize nature protection to help meet ambitious international targets
• waste-reduction and plastic pollution policies that also help businesses sidestep $4.5 trillion in price volatilities and supply chain interruptions
• ‘sandboxes’ and other agile regulatory approaches that boost innovation and competitiveness
• green bonds and other sustainable finance tools that help build green infrastructure and the clean economy
• fostering jobs and skills for a low carbon economy, and driving clean investment
• economic tools for building resilience and accelerating adaptation to climate change
• and much more

The next few years will be critical for Canada to meet its environmental commitments and position itself for success in a low-carbon, resource-efficient global economy.  Smart Prosperity Institute and its international research network will do all it can to inform the next generation of innovative policy and investment tools needed to capture this vital opportunity.