A study shows the global energy transition could create 170,000 jobs in the provincial clean technology sector and contribute $61 billion to GDP within 30 years.
The Alberta Energy Transition Study, released on Tuesday morning, was conducted on behalf of Calgary Economic Development and Global Energy.
“As the heart of Canada’s energy sector and home to the biggest concentration of Alberta’s cleantech companies, Calgary is positioned to be a leader in the race to net-zero,” said Calgary Mayor Jyoti Gondek, in a press release. “With the commitment from key industry players, we are poised to create jobs, grow the economy and protect the environment.”
The study said the results would need an investment from the province of $2.1 billion a year in cleantech by 2030, increasing to $5.5 billion by 2040. Currently the province puts less than $1 billion into the sector. Without further investment, the report says the sector will generate 20,000 jobs and $4 billion in GDP by 2050.
The study highlighted six subsectors in the cleantech ecosystem in the province that have the greatest potential for foreign investment, to create jobs and launch new companies: agtech and agriculture, carbon capture utilization and storage, digitalization, electrification, energy efficiency, hydrogen production and utilization.
“Calgary’s vision is to be the destination of choice in Canada for innovators to solve the greatest global challenges, including the energy transition,” said Brad Parry, interim CEO and president for CED in a press release. “The pursuit of net-zero is the right path forward to make a global impact, create meaningful jobs and grow the economy.”
This story will be updated.
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