Canada West Foundation has released a new report on the green economy and its potential to diversify the Western Canadian economy. The Green Grail: Economic Diversification and the Green Economy in Western Canada, by Robert Roach, Senior Economist, focuses on the connection between the green economy and its potential to contribute to the diversification of the western Canadian economy.
Eight representatives from western Canadian companies active in the green economy were interviewed to address challenges and prospects. These include:
- The hurdle of commercialization and the lack of venture capital at this critical point in the business development process;
- A domestic market that tends to shy away from home grown options in favour of what can be imported from Europe, the US or Asian and the tendency among Canadians to see early adoption as too risky;
- The preference for large and capital-intensive energy (especially electricity) projects over facilitating small-scale additions to the grid; and
- Politically inconsistent environmental mandates in jurisdictions where green companies are operating.
While the emerging green economy in western Canada faces a variety of challenges, growing cultural consciousness and the desire for government to create a positive framework around which green businesses can develop and flourish are promising.
To download the full report, The Green Grail: Economic Diversification and the Green Economy in Western Canada, click here.