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Canadian Climate Leadership through Cleantech Investment

Given the acceleration of severe climate-related events in recent years, it is more urgent than ever to mitigate and reverse the effects of global warming, for the benefit of society, environment and economy.

At Export Development Canada (EDC) they know this well. As Canada’s export credit agency and leading cleantech financier, EDC is helping drive the transition to a greener economy. Having facilitated more than $9billion in cleantech exports since 2012, EDC is furthering Canadian sustainability and prosperity through their support for Canadian cleantech companies.

And they aren’t doing it alone. Collaborating with organizations like Sustainable Development Technology Canada (SDTC), a foundation created by the Government of Canada to support the development and demonstration of Canadian cleantech companies, they are showing the win-win of a cleantech ecosystem who work together.

SDTC’s deep technology expertise has been helpful to further EDC’s understanding of the many sectors that comprise cleantech. The two work closely together to ensure that the transition from grant funding to commercialization of Canadian cleantech companies occurs optimally. Leah
Lawrence, President & CEO of SDTC, explains the vital importance of investment in entrepreneurs and new innovations in sustainable technology.

‘While government policy is important, it won’t be governments that develop economic, scalable technologies that tackle climate change,’ she says. ‘It’ll be entrepreneurs, and that’s where EDC comes in – they provide the money and the expertise to help these companies scale, and that is where we’ll really see the change happen.’

EDC’s intent is to build a portfolio of the future through a mix of corporate policy and strategy, driving large scale investment in clean, low carbon technology, and reducing the carbon intensity of its lending portfolio. This will all be done while fostering greater transparency as evidenced by EDC’s commitment to the recommendations of the Task Force on Climate Related Financial Disclosures, or TCFD for short. TCFD is an invaluable framework that drives demand for clear, consistent, high quality and comparable information related to climate-related risks and opportunities for companies.

For Mairead Lavery, President and CEO of EDC, TCFD is just one example of how it can show Canadian leadership on climate change.

“Business success isn’t just about numbers—it’s about doing the right things for the right reasons,”she said. “Climate change is a significant and complex global challenge that presents a range of risks and opportunities to countries, businesses and individuals. If this challenge is to be addressed
effectively, it will require action from all sectors of the global economy. EDC will continue to do its part by reducing our support for more carbon intensive sectors, while simultaneously supporting Canadian cleantech companies that have developed innovative solutions to fight climate change and confidently grow their business globally.”

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