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

Members of Huu-ay-aht First Nations conducted two checkpoints on Monday, May 10, asking people who enter the territory to respect the sacred principles and to act accordingly while on Huu-ay-aht land. (SUBMITTED PHOTO)
Huu-ay-aht First Nations set up checkpoints in territory

Access restrictions come after forestry incidents

Bulldogs forward Brandon Buhr is knocked off the puck by Grizzlies defenceman Lindsay Reid. (ELENA RARDON / ALBERNI VALLEY NEWS)
BCHL: Alberni Valley Bulldogs beaten back-to-back by Victoria Grizzlies

Victoria Grizzlies named Island Champions while Bulldogs take second place

In 1903, if you were looking north down First Avenue with Alberni in the distance, this is what you would have seen. Scattered houses along River Road are visible, as is the corner of Watson Block building in the lower lefthand corner of the photograph. This photo is part of the 24,000 online collection of the Alberni Valley Museum. View this one and more at https://portalberni.pastperfectonline.com. (PHOTO PN02975 COURTESY ALBERNI VALLEY MUSEUM)
LOOK BACK: Historic street scenes of Port Alberni

Take a peek back in time with the Alberni Valley Museum’s digital archives

This photo shows Franklin River Camp "B" circa 1940. Logging was started in the Franklin River area by Bloedel, Stewart & Welch in 1934. This is one of 42 photos of the Franklin River area, donated together in an album put together by the donor's husband, Stanley Young. Young worked as a highrigger in the Franklin River area from 1939-46. This is one of 24,000 photos contained in the Alberni Valley Museum’s digital archives, available for public viewing at https://portalberni.pastperfectonline.com. (PHOTO PN10830 COURTESY ALBERNI VALLEY MUSEUM)
LOOK BACK: Logging along Franklin River

Take a peek at Alberni Valley history with the Alberni Valley Museum

Getting enough Vitamin D can be challenging for Canadians, especially during winter months. (CONTRIBUTED)
ACTIVE LIVING: The ‘sunshine vitamin’ plays a vital role in our health

Port Alberni registered dietitian Sandra Gentleman writes about health issues

A bullet hole is seen in the windshield of an RCMP vehicle approximately 4 km from Vancouver International Airport after a one person was killed during a shooting outside the international departures terminal at the airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Homicide team IDs man in fatal YVR shooting as police grapple with spate of gang violence

Man, 20, charged in separate fatal shooting Burnaby over the weekend

RCMP are searching for Philip Toner, who is a ‘person of interest’ in the investigation of a suspicious death in Kootenay National Park last week. Photo courtesy BC RCMP.
RCMP identify ‘person of interest’ in Kootenay National Park suspicious death

Police are looking for Philip Toner, who was known to a woman found dead near Radium last week

Vancouver Canucks goaltender Thatcher Demko (35) makes a save on Winnipeg Jets’ Nate Thompson (11) during second period NHL action in Winnipeg, Monday, May 10, 2021. THE CANADIAN PRESS/Fred Greenslade
Vancouver Canucks see NHL playoff hopes dashed despite 3-1 win over Winnipeg

Montreal Canadiens earn final North Division post-season spot

The B.C. legislature went from 85 seats to 87 before the 2017 election, causing a reorganization with curved rows and new desks squeezed in at the back. The next electoral boundary review could see another six seats added. (Black Press files)
B.C. election law could add six seats, remove rural protection

North, Kootenays could lose seats as cities gain more

The Independent Investigations Office of B.C. is investigating the shooting of an Indigenous woman in the Ucluelet First Nation community of Hitacu. (Black Press Media file photo)
B.C. First Nation wants ‘massive change’ after its 3rd police shooting in less than a year

Nuu-chah-nulth woman recovering from gunshot wounds in weekend incident near Ucluelet

Nurse Gurinder Rai, left, administers the Moderna COVID-19 vaccine to Maria Yule at a Fraser Health drive-thru vaccination site, in Coquitlam, B.C., on Wednesday, May 5, 2021. The site is open for vaccinations 11 hours per day to those who have pre-booked an appointment. THE CANADIAN PRESS/Darryl Dyck
COVID vaccine bookings to open for adults 40+, or 18+ in hotspots, across B.C.

Only people who have registered will get their alert to book

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Most Read