Page 29 - Ebook HTKH 2024

Canada is a developed nation with a robust framework for promoting sustainability
and environmental protection. The Canadian government has implemented various

policies and programs to support green business activities, positioning the country as a
leader in sustainable development.
In 2017, the Government of Canada invested in a Clean Technology Data Strategy
to provide the foundation for measuring the economic, environmental, and social
impacts of clean technology in Canada.

Source: Natural Resources Canada (2023)
According to Natural Resources Canada (2023), more than half of Canada’s
2,427 cleantech companies are related to the energy industry, operating in renewables,
energy efficiency, and smart grid technology. Of all 493 projects, nearly half (233) are
classified as using clean technology in 2023, with a total potential investment capital
of $159 billion. This represents an increase of 36 clean technology projects and a total

project capital value of $40.8 billion (+35%) since 2022.
Table 1. Clean Technology Project Trends, 2020 to 2023

2020 2021 2022 2023
Total Clean 197 233
Technology 159 ($99.4B) 178 ($104B) ($118B) ($159B)
Hydro 61 ($52B) 58 ($39.2B) 63 ($44.8B) 78 ($38.9B)

Wind 36 ($8.3B) 41 ($14.6B) 35 ($13.4B) 31 ($12.3B)

Biomass/Biofuels 29 ($4.6B) 31 ($8B) 35 ($9.4B) 42 ($13.8B)
Solar 13 ($1.4B) 22 ($2.2B) 30 ($3B) 31 ($6.2B)

Nuclear 3 ($26.1B) 4 ($27.4B) 3 ($26.1B) 2 ($25.8B)
Carbon Capture and 1 ($6B) 2 ($11.3B) 6 ($15.5B) 9 ($38.3B)
Storage
Geothermal 3 ($0.3B) 5 ($0.4B) 4 ($0.4B) 4 ($0.4B)

Tidal 6 ($0.3B) 6 ($0.3B) 7 ($0.4B) 7 ($0.4B)
Multiple 1 ($0.03B) 1 ($0.03B) 1 ($0.03B)

21