Alberta to lead climate spending

[David Finlayson – Journal Business Writer – Edmonton]
Report’s $6B estimate surpasses totals of all other provinces combined

More than $6 billion is expected to be spent on climate-friendly technology in Alberta over the next five years – more than in all other provinces combined, a new report suggests.

The public and private investment through government programs is expected to increase the province’s real GDP by almost $5 billion, according to the Conference Board of Canada.

Alberta and Ontario, which is expected to spend nearly $2 billion, also have the largest greenhouse gas (GHG) emissions, says the report, commissioned by the Alberta-based Climate Change and Emissions Mangagement Corp.

Saskatchewan, Quebec and British Columbia are expected to spend more than $1 billion each.

Canada will need significant investment from the private and public sectors to meet governments’ aggressive GHG-reduction targets, said Len Coad, the board’s director of energy, environment and technology policy.

“To achieve environmental and full economic benefits, governments need to properly support homegrown commercialization of technologies and help develop Canadian clean-energy companies.”

“Tapping into export markets for these new technologies would achieve even greater economic benefits.”

The report reviewed provincial climate action plans and current programs, as well as federal climate-technology investments.

It predicts $11.8 billion will be spent in all provinces through 2014, with the larger and more diverse economies getting a bigger economic bang per $100 million of technology investment.

Ontario is expected to generate about $107 million in real GDP for every $100 million spent because it has a diversified manufacturing base that can develop and produce a wide variety of technologies, the report says.

Alberta is expected to reap $70 million in additional real GDP for every $100 million spent because of higher dependence on out-of-province suppliers.