Episode
124

The Future of Clean Tech and Climate Action in Canada

May 8, 2024
|
Duration:
1854600
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In This Episode:

In this episode, hosts Lysandra and Dave deeply dive into Canada's climate action and clean technology landscape with Tom Rand, co-founder of ArcTern Ventures. Rand, a prominent advocate for climate change action and clean tech investment, discusses Canada's position on emissions, the economic implications of clean technology, and the role of various industries in addressing climate change. The episode concludes with a call to action for all Canadians to participate in the climate movement and the urgent need for an industrial revolution towards sustainability. Check out our 360 Carbon Excellence Program.

Highlights

  • Current State of Affairs: Rand emphasizes that Canada is lagging behind its European peers in emissions reduction and economic output relative to energy inputs. He notes that existing policies have yet to deliver significant results.
  • The Role of Incumbents: Rand discusses the dominant energy industry in Canada, highlighting the challenge of transitioning away from fossil fuels and the resistance from established players who prioritize short-term profits.
  • Opportunities in Clean Technology: Rand points to the clean tech sector as a significant source of employment and economic potential, suggesting that Canada must focus on emerging technologies, particularly in energy storage and biogenic carbon capture.
  • Importance of Education: Rand advocates for greater education among business leaders and politicians regarding the economic benefits of climate action and sustainable practices.
  • Cultural Shifts: Rand discusses the growing awareness and urgency surrounding climate change, especially among younger generations, and how this can drive societal change and economic opportunities.
  • Key Insights

  • Participatory Approach: Rand stresses that climate action requires collective participation from all sectors of society, asserting that everyone has a role in the transition to a sustainable economy.
  • Financial Sector’s Responsibility: Highlighting the potential of Canadian financial institutions, Rand calls for increased transparency and accountability in the financial sector regarding carbon risk and investment in sustainable projects.
  • Future Outlook: Rand expresses cautious optimism about Canada’s potential in clean technology, citing promising advancements such as efficient lithium extraction and innovative energy storage solutions that can significantly impact the industry.
  • Resilience and Mitigation: Acknowledging the likelihood of surpassing the 1.5-degree Celsius target, Rand emphasizes the importance of mitigating every ton of carbon to reduce the risk of catastrophic climate change.
  • Economic Restructuring: Rand believes the transition to clean technology will fundamentally reshape the economy, creating new job opportunities across various sectors, including trades and cultural industries, as demand for sustainable practices grows.
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