Global clean tech opportunities abound, just not in Canada
In 2021, renewables investments, for the first time in history, will be greater than investments in the oil and gas sectors combined. Photo credit: shutterstock
By Will Dubitsky
Global developments suggest a Canadian migration to a green economy is critical to competitiveness. However, if one tries to find Canadian clean tech manufacturing/innovation companies listed on a stock market, one will likely come up with nearly zero, while the number of Canadian-based oil and gas firms offering stocks is seemingly infinite.
Canada has got its priorities wrong.
Last month, for the first time in 92 years, ExxonMobil was dropped from the Dow Jones Industrial Average index. In the 1980s, the oil and gas sectors accounted for 28 per cent of the Standard and Poor Index, but in 2020, these sectors represent 2.6 per cent of the index.
ExxonMobil has indicated it may write off 20 per cent of its reserves by the end of 2020.
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