In late 2015, more than 190 countries pledged to reduce greenhouse gases and fight climate change at the COP21 Summit in Paris. This will continue the upward trend in demand for clean technology (cleantech) solutions and presents tremendous opportunity for the Canadian cleantech sector. The challenge for many cleantech companies is getting the funding needed to make the leap from research and development to production and global expansion.
EDC works closely with federal government departments, agencies and organizations like the Business Development Bank of Canada (BDC) and Sustainable Development Technology Canada (SDTC) to pursue Canada’s climate change agenda and develop our international capabilities to support the burgeoning cleantech sector.
For 2016, we’ve set a target of increasing the number of cleantech companies we serve under our enhanced risk appetite to 50, up from 38 in 2015, and aiming for significant growth by the end of 2020. We know there are currently approximately 800 such companies in Canada at the commercial readiness stage and we expect that our revamped strategy, once finalized, will enable us to support more companies.
Where We’re Going
In late 2015, we began revamping our cleantech strategy in response to exporter feedback about the difficulties in getting the funding they need. Efforts included joining other federal government departments and agencies in the Cleantech Working Group to co-ordinate our approaches, improve customer experience and generally make it easier for companies to access the capital they need as they graduate from one stage of development to the next.