Kevin Thomas is chief executive officer of the Shareholder Association for Research & Education, which recently released the report \u201cPower at Risk: The Investment Case for a Clean Competitive Canada.\u201d<\/p>\n
The adoption of a new federal electricity strategy is critical for our future growth, and here\u2019s why: Canada\u2019s next competitive advantage won\u2019t be the amount of fossil fuels we can export; it will be the industry, investment and jobs we can attract by solidifying our clean electricity infrastructure<\/a>. <\/p>\n The world is undergoing a clear structural shift from fossil fuels to clean electricity, driven by electrification of industry and transport, the explosive growth of data-intensive technologies, and investor preference \u2013 with more than twice as much investment going to clean energy than fossil fuel developments in the past year. <\/p>\n The industries of the future demand abundant, low-carbon and reliable power.<\/p>\n Canada has what it takes to attract that investment. But to do so, we need a new strategy that prioritizes clean electricity and transmission build-out across Canada, co-ordinated by a federal\u2013provincial\u2013territorial clean electricity table to tackle significant constraints on growth. <\/p>\n Calgary startup joins the hunt for natural hydrogen<\/a><\/p>\n Canada is entering the clean-energy transition with strong advantages. Our electricity sector is already roughly 85-per-cent non-emitting and our resource abundance is nearly unmatched with large uranium reserves and substantial deposits of lithium, nickel, cobalt and rare earth elements. We enjoy a reputation for economic and financial stability, and we hold preferential access to markets representing 66 per cent of global GDP. <\/p>\n These benefits are driving investment. Since 2021, Canada has attracted an estimated $60-billion to $70-billion in announced capital investment across key clean economy sectors, which should create at least 26,000 long-term direct jobs and tens of thousands more across supply chains.<\/p>\n But the edge Canada currently enjoys is under threat. <\/p>\n Grid constraints, interprovincial barriers, slow infrastructure build-out and intensifying global competition are eroding Canada\u2019s clean electricity advantage and putting future investment at risk. <\/p>\n More than 12,000 companies \u2013 representing 40 per cent of global market capitalization \u2013 have now set emissions reduction targets, and more than three-quarters of those have set Scope 2 targets that specifically increase demand for clean electricity.<\/p>\n EverWind lands financing for Nova Scotia wind and hydrogen projects<\/a><\/p>\n Hyperscale data-centre operators and cloud providers have clean energy commitments across their global portfolios. <\/p>\n Canada\u2019s aluminum and low-carbon steel producers already secure price and volume advantages in markets where buyers are under pressure to decarbonize. <\/p>\n Automakers, rail operators and construction companies are locking in low-carbon material supply commitments. EU battery regulations and tightened climate targets at the original equipment manufacturer (OEM) level are leading automakers to embed renewable-energy and emissions thresholds in contracts for aluminum, steel and battery materials. <\/p>\n In the mining sector, grid-connected, low-carbon power is now among the top five investment criteria, alongside ore quality and jurisdictional risk. <\/p>\n Global demand for reliable, clean power is expected to rise two to three times by 2050. Yet Canadian provinces are already scrambling to manage a massive influx of requests from energy-intensive sectors. <\/p>\n