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- The ‘green race’ is on and Canada needs to be ready to prosper in the transition to a global low-carbon economy, says a new report by the National Round Table on the Environment and the Economy (NRTEE) released today as part of its Climate Prosperity series.
The report, Measuring Up: Benchmarking Canada’s Competitiveness in a Low-Carbon World, creates a new Low-Carbon Performance Index (LCPI) that tracks Canada’s competitive performance in the gobal transition to a low-carbon economy.
The LCPI, developed with Deloitte, finds that Canada currently ranks sixth among the G8 nations when measured across five key categories and 15 comprehensive indicators necessary for low-carbon performance. The categories are emissions and energy, innovation, investment, skills, and policy and institutions. The Index measures a nation’s level of clean technology investment, low-carbon financial stimulus and national-carbon pricing measures, as examples.
“To succeed and prosper in this global low-carbon transition, we must first know how we stand against others,” says the NRTEE report. “As the world moves to a low-carbon economy, Canada can win or lose. The choice is ours.”
While Canada ranks sixth overall among the G8, it is first in skills and third in innovation under the LCPI. Other rankings are fourth in investment, sixth in emissions and energy and sixth in policy and institutions. Canada’s performance is just behind the United States and close to Japan, which together form a second- tier of low-carbon performing countries within the G8. The Index is led by a first-tier group of France, Germany, and the U.K. with Italy and Russia making up the third-tier.
Canada’s ranking reflects the reality and challenges of our country’s profile as an energy-producing and exporting country characterized by vast geography, a cold climate and dispersed population centres.
“The global low-carbon transition is both a challenge and an opportunity that we face,” said NRTEE Chair Bob Page. “But the NRTEE believes Canada and Canadians are up to that challenge
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