Alberta will benefit most, with a forecasted impact on the province's GDP of $1.95 billion.
OTTAWA — Investments in greenhouse gases (GHG) emissions-reduction technology that were funded, in part, by the Climate Change and Emissions Management (CCEMC) Corp. from 2011 to 2016 will contribute more than $2.4 billion and add 15,017 person-years of full-time-equivalent employment to the Canadian economy, according to a Conference Board of Canada analysis, Investing in GHG Emissions-Reduction Technology: Assessing the Impact.
“Reducing GHG emissions has become a priority for many countries, including Canada. Beyond potentially lowering emissions, investments in transformative technologies generate economic benefits,” said Pedro Antunes, Deputy Chief Economist, The Conference Board of Canada.
The impact on Alberta’s GDP is forecast at $1.95 billion.
As part of Alberta’s climate change strategy, the CCEMC was established in 2009 as an independent organization with a mandate to reduce GHG emissions and help the province adapt to climate change.
By 2016, it is estimated that the CCEMC will have contributed over $1.3 billion to projects aimed at reducing GHG emissions. These investments are mainly concentrated in Alberta, but Quebec, Ontario, Manitoba, Saskatchewan, and BC have and will also receive direct funding for projects.
Investments leveraged through the CCEMC program will contribute $1.95 billion to Alberta’s economy and add 12,244 person-years of full-time-equivalent employment. Some of the largest supply-chain and induced impacts are occurring in the construction, manufacturing, and commercial services industries.
Ontario will benefit the most, with real GDP expected to rise by $240 million. BC, Quebec, Manitoba and Saskatchewan will also benefit from sizeable lifts to economic activity and employment. The real GDP gains range from $22 million in Manitoba to $106 million in BC.