A new study on Canada’s clean technology industry warns that, despite outgrowing the rest of the economy, the sector is losing global market share and needs government policy support.
The fourth annual report card by Analytica Advisors found that more than 800 clean tech firms in Canada directly employed almost 50,000 people in 2013, making the industry a bigger employer than the aerospace manufacturing sector, logging industries or pharmaceuticals and medical devices.
Yet even with $12 billion in exports of manufactured environmental goods, Canada’s share of the booming global market has been in steady decline.
The study finds that among the world’s top 24 exporting nations of environmental goods, Canada has been the third biggest loser of market share since 2008, behind only the United Kingdom and Japan. Click here to read more.