Canada Doubles Investment in Clean Energy R & D

SAN FRANCISCO, CA, June 2, 2016 /CNW/ – Canada has taken another step in its support for clean technology by doubling government investment over the next five years in clean energy research and development. Support for clean technology will reduce greenhouse gas emissions, diversify our economy, open access to new markets and create good, well-paying jobs for Canadians.

Following up on a commitment made by Prime Minister Justin Trudeau during the 21^st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21), the Honourable Jim Carr, Canada’s Minister of Natural Resources, today announced that Canada will seek to double its 2014–2015 funding of $387 million for clean energy and clean technology research and development to $775 million by 2020. Minister Carr made the announcement during the inaugural Mission Innovation Ministerial, in San Francisco.

“Clean technologies will play a key role in Canada’s transformation to a low-carbon economy. By doubling our investment in clean technology we will help meet our climate change objectives, increase the productivity and competitiveness of Canadian firms and create clean jobs. We look forward to working with our domestic and international partners to help advance our Mission Innovation goals.” Jim Carr, Canada’s Minister of Natural Resources

The Government of Canada joined Mission Innovation in November 2015 with 19 other nations as part of a global effort to accelerate clean energy innovation with the goal of making clean energy widely affordable, and Mission Innovation now welcomes the European Commission on behalf of the European Union as its newest member.

Beyond new spending in support of Mission Innovation, the Government of Canada is working to encourage greater private sector investment and increase domestic and international collaboration to advance Mission Innovation goals. Clean technologies are a key component of the Government of Canada’s approach to promoting sustainable economic growth and will play a crucial role in Canada’s transformation to a low-carbon economy.