Investing for Tomorrow, Today: How Canada's Budget 2021 can enable critical climate action and a green recovery
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To keep up with our global peers, sufficient investments and strengthened regulations must work in tandem to rapidly decarbonize all sectors of the Canadian economy. Biden's Clean Energy Plan promises CAD 2.5 trillion for climate investments: per capita, this is over eight times what Canada has announced so far in new climate measures.
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Canada is being outpaced by international climate leaders on recovery spending in areas such as electric vehicles, clean energy, and sustainable agriculture, although the government has made comparable recovery commitments to energy efficiency in buildings and public transit.
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There are significant funding gaps in Canada's climate funding commitments to date compared to estimates of need by experts (including the Green Budget Coalition, the Task Force for Resilient Recovery, and Corporate Knights' Building Back Better). In many cases, experts recommend higher amounts over a shorter time frame than what is promised in the climate plan
With Budget 2021, the government has a critical opportunity to ensure Canada steps up to what is truly needed for a green recovery. This new report highlights the gaps between the investments needed to meet Canada’s climate goals and what the government has committed thus far. Within our borders, ramping up climate investments will boost the nation’s economic recovery and create jobs.
Investing for Tomorrow, Today is endorsed by nine of Canada's leading environmental organizations: Pembina Institute, Nature Canada, Climate Action Network Canada, Environmental Defence, Équiterre, Conservation Council of New Brunswick, Ecology Action Centre, Leadnow, and Wilderness Committee.
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