Leading the charge on a cross-Canada clean electricity grid

Investors push for follow through on clean energy commitments.

It’s been five months since Prime Minister Mark Carney formally announced his ambitions to support the development of a clean electricity grid.

Bill C-5—now the One Canadian Economy Act—pitched a model for expedited energy development among other fast-tracked projects across the country. Since the bill’s assent in late June, however, there has been little to no mention of the promised grid.

Around 85 per cent of Canada’s electricity is already non-emitting, positioning us well in the global race for a fully renewable grid. But that goal hinges on promises being kept and policy being planned proactively. Electrical grids are regulated at the provincial/territorial level, and there are vastly different energy requirements and hurdles in each jurisdiction. Federal advocacy is critical to both building a standard approach to development, and removing unnecessary obstacles created by competing standards and complicated provincial interties.

Thriving in a carbon-neutral future requires access to clean electricity. For consumers, standardizing requirements and systems for a cross-Canada clean grid would mean reliable and affordable access to clean, domestically generated energy.

For investors, advocacy for a clean grid fulfills a dual purpose.

Mitigating the systemic risk of climate change requires undertaking an energy system transition and the policies that support it. But investors also have an interest in the broad economic benefits of a pan-Canadian clean electricity grid that can attract the innovative industries and open up potential business growth in the move to an increasingly electricity-powered world. As we look to create a more competitive and agile market, not only will we need to build quickly—as has been repeatedly emphasized in C-5 conversation—but we will need to further develop the low-emitting energy resources that are already being offered to corporate issuers in other jurisdictions, including the U.S. and China.

This summer, SHARE and its institutional investor partners from the Capital Markets Group began meetings to discuss accelerating the development of a cross-Canada clean electricity grid, bringing investor concerns to key Canadian policymakers.

Investors have an influential voice on creating the needed policy environment for a sustainable, profitable and resilient Canadian economy. SHARE is building a more active approach to real-economy policy advocacy, including convening federal and provincial leaders on the urgent need for improved and transition-ready policy alternatives.

As governments, industry, and investors seek to navigate the complex landscape of decarbonization and electrification, SHARE’s work is informed by the data, analysis and policy recommendations of experts in this space, including The Transition Accelerator, Clean Energy Canada, New Economy Canada and the Canadian Climate Institute.

As the national project of forging a more resilient and diverse economy continues, investors will ensure that clean energy and electrification are on the table. This advocacy is only the beginning, and investors will ensure this promise is not forgotten.