Vancouver, British Columbia – A historic opportunity has been identified for British Columbia’s economic future. AdvantageBC has released a new report written by KPMG titled The Advantage of a Sustainable Future which outlines the case for government to focus on two sectors of the economy to leverage strong growth in the coming years: sustainable finance and clean technology.
These sectors were selected after a rigorous review of competing markets and an analysis of British Columbia’s competitive advantages. AdvantageBC believes that with the right mix of policies, and the support of government and business, these sectors can drive British Columbia’s growth over the next decade and into the future.
“This report continues the work that AdvantageBC has been undertaking over the past several years to work toward a sustainable future for our province,” said Clark Roberts, President & CEO of AdvantageBC, “British Columbia is already well positioned as a global leader in clean technology and sustainable finance, all we need to do is seize the opportunity.”
If the government acts now The Advantage of a Sustainable Future estimates that:
- The sustainable finance sector could contribute between $2.4 – $4.5 Billion of GDP and produce between 11,000 and 20,000 jobs by 2030.
- The clean technology sector could contribute between $3.4 – $3.6 Billion of GDP and produce between 29,000 and 32,000 jobs by 2030.
AdvantageBC Board Chair, Bruce Flexman stated that, “We need to plan for a sustainable recovery from the impacts of COVID19, and that will require a focus on burgeoning sectors that can highlight British Columbia as a leading green finance centre.”
The report outlines the potential magnitude of the sectors within BC, their current economic profiles, and the economic opportunity available to the province should government choose to take leadership. It goes on to outline the case for sustainable finance and clean technology clusters centred in British Columbia and compares our potential trajectory to the existing work being done in existing clusters throughout North America.
The Advantage of a Sustainable Future can be found at: https://advantagebc.ca/resources/
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