Prime Minister Justin Trudeau talks during question period in the House of Commons on Parliament Hill in Ottawa on Tuesday, July 21, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Prime Minister Justin Trudeau talks during question period in the House of Commons on Parliament Hill in Ottawa on Tuesday, July 21, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Feds should invest $50B in green projects for post-pandemic stimulus: experts

A number of recommendations total $50 billion in spending over five years

When the time comes for Canada to turn its attention to post-pandemic stimulus, a group of finance and policy experts says Ottawa needs to invest heavily in green infrastructure projects, including energy-efficient buildings, to secure an economic recovery with staying power.

The Task Force for a Resilient Recovery was struck independent of government in May, with the goal of coming up with tangible actions for governments to help get Canadians back to work while also building a low-carbon economy.

The group, which includes several business and finance experts as well as leaders of a number of policy and sustainability organizations, is releasing its preliminary report Wednesday. It comes with five overarching recommendations and 22 specific measures it believes government should take when contemplating how to kick-start the economy as Canada comes out of the COVID-19 crisis.

The recommendations total $50 billion in spending over five years.

The No. 1 proposal, which comes with the biggest price tag, suggests the federal government spend over $27 billion on retrofitting buildings to be more energy efficient.

Andy Chisholm, who sits on the board of directors of RBC and is a member of the federal government’s expert panel on sustainable finance, says “inefficient buildings,” which are not ready for the effects of climate change, represent some of the biggest financial and environmental risks for Canadian economies.

But they also present opportunities.

“This is something where an enormous number of jobs can be created, existing technologies can be accelerated and commercialized and in the event that buildings are improved through retrofit, it will result in a better environment for tenants and workers, it will result in increased value for property owners,” Chisholm said.

“It’s kind of, as they say, low-hanging fruit in many respects.”

Direct government investments in building retrofits can be used to leverage up to $35 billion in additional private capital, the task force’s report says.

Other recommendations include moving more quickly to build widescale use and accessibility of zero-emission vehicles and to support the retention and attraction of clean vehicle manufacturers in Canada.

The group also wants to see the federal government accelerate investments in the renewable energy sectors; spend more on restoring and conserving natural infrastructure and invest in ways to make working for and creating green businesses easier and more sustainable.

The ultimate goal is to ensure Canada is focusing on the future and the needs of the country in the years and decades to come if and when it starts to roll out billions of dollars in economic stimulus once the health emergency spending phase is over, Chisholm said.

“Let’s be strategic, let’s try to achieve multiple objectives, let’s be forward-looking, let’s build long-term competitiveness into the thinking so that what we’re not doing is simply restoring ourselves to where we were previously … but rather puts us in a position to be stronger going forward utilizing the new and emerging opportunities.”

Helen Mountford, vice president of climate and economics at the World Resources Institute, says recent evidence from global organizations such as the International Energy Agency indicates governments that place a strong focus on renewable energy and energy efficiency can double the number of jobs created compared to the same investments in fossil fuel recovery.

Growing green sectors also creates more opportunities for groups that have been most affected by the pandemic, she said.

“By diversifying the economy in this way and moving towards a more service-oriented economy, a much more innovative economy, you actually tend to create jobs for those groups that tend to be neglected in the workforce or to slip behind, particularly in an economic recession, such as women and youth,” Mountford said.

“The question is what’s going to be best for Canadians, and I think what we’re saying is this is an approach that really would be.”

The group hopes to complete its final report soon and get it into the hands of federal officials as they plan the next phases of Canada’s recovery.

Teresa Wright, The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
253 new COVID-19 cases, 4 more deaths in Interior Health over the weekend

More than 1,000 cases in the region remain active

A Trail man has a lucky tin for a keepsake after it saved him from a stabbing last week. File photo
RCMP: Small tin saved Trail man from stabbing

The man was uninjured thanks to a tin in his jacket

School District 8 is asking the education ministry to stop making the Foundation Skills Assessment data public. File photo
Kootenay Lake School District requests education ministry make annual student assessments private

The district is concerned the data is being misused by the Fraser Institute

Michigan Wolverines forward, Kent Johnson, earned the Big Ten First Star of the Week after tallying five points in a 9-0 win over Michigan State Spartans. Photo: Jim Bailey.
Former Smoke Eater earns Big Ten first star

U of Michigan forward Kent Johnson had a five-point night in win over Michigan State

Zoey Uniat is now three months old. Photo: Submitted
Castlegar baby with rare disorder progressing towards coming home

Fundraiser for Zoey Uniat has raised more than $50,000

Provincial health officer Dr. Bonnie Henry prepares a daily update on the coronavirus pandemic, April 21, 2020. (B.C. Government)
B.C. adjusts COVID-19 vaccine rollout for delivery slowdown

Daily cases decline over weekend, 31 more deaths

Sunnybank
COVID-19 related deaths at Oliver, West Kelowna and Vernon senior care homes

Sunnybank, Heritage Retirement Residence and Noric House recorded deaths over the weekend

A female prisoner sent Langford police officers a thank-you card after she spent days in their custody. (Twitter/West Shore RCMP)
Woman gives Victoria-area jail 4.5-star review in handwritten card to police after arrest

‘We don’t often get thank you cards from people who stay with us, but this was sure nice to see’: RCMP

An elk got his antlers caught up in a zip line in Youbou over the weekend. (Conservation Officer Service Photo)
Elk rescued from zip line in Youbou on Vancouver Island

Officials urge people to manage items on their property that can hurt animals

Tla-o-qui-aht First Nation Chantel Moore, 26, was fatally shot by a police officer during a wellness check in the early morning of June 4, 2020, in Edmundston, N.B. (Facebook)
Frustrated family denied access to B.C. Indigenous woman’s police shooting report

Independent investigation into B.C. woman’s fatal shooting in New Brunswick filed to Crown

Delta Police Constable Jason Martens and Dezi, a nine-year-old German Shepherd that recently retired after 10 years with Delta Police. (Photo submitted)
Dezi, a Delta police dog, retires on a high note after decade of service

Nine-year-old German Shepherd now fights over toys instead of chasing down bad guys

Nurses collect samples from a patient in a COVID suspect room in the COVID-19 intensive care unit at St. Paul’s hospital in downtown Vancouver, Tuesday, April 21, 2020. (THE CANADIAN PRESS/Jonathan Hayward)
5 British Columbians under 20 years old battled COVID-19 in ICU in recent weeks

Overall hospitalizations have fallen but young people battling the virus in hospital has increased

Canada released proposed regulations Jan. 2 for the fisheries minister to maintain Canada’s major fish stocks at sustainable levels and recover those at risk. (File photo)
New laws would cement DFO accountability to depleted fish stocks

Three B.C. salmon stocks first in line for priority attention under proposed regulations

Gin, one of the Kantymirs’ two sheep. (Martha Wickett-Salmon Arm Observer)
Sheep start up ATV, sit in cars and go for walks in Salmon Arm

Until they bought two sheep, Ken and Karleen Kantymir didin’t realize just how social the animals are

Most Read