A low-carbon strategy for Quebec’s economic growth
MONTREAL, November 20th. 2018– Betting on a low-carbon economy would be an undeniable economic lever for Quebec. This is the key finding of two reports released today by the Institut du Québec (IdQ): Un Québec sobre en carbone : l’avantage économiqueand Un Québec sobre en carbone : Des débouchés pour les entreprises du Québec. With almost totally renewable, emission-free electricity production, Quebec companies are in an excellent position to enter the rapidly expanding low-carbon markets. Already recognized as a leader in zero-emission electricity, Quebec – and its companies – would do well to seize this opportunity quickly, to position themselves as a key international player in low-carbon know-how.
“While carbon pricing systems are multiplying around the world, the production of goods and services is growing rapidly. This increased production requires more and more electricity,” notes Jean-Guy Côté, Associate Director of IdQ.
To reconcile these two contradictory trends, a number of governments and companies have begun the transition to low-carbon processes. With access to electricity and other renewable energy solutions, Quebec companies are among the best positioned to meet the needs of these countries and businesses. If a low-carbon process from Quebec replaces a process that produces greenhouse gas emissions, the Quebec contribution becomes net positive – and therefore clearly of interest in helping these potential partners meet their targets.
Quebec is also well positioned to attract companies – and their investments – that wish to improve their environmental profile and comply with emission reduction trends. New opportunities are already opening up for several sectors, such as aluminum producers supplying computer manufacturers and the automotive industry, manufacturers and data centers.
“Not only must we stop pitting economic development against the transition to a low-carbon economy, but we must also see this transition as a genuine opportunity for Quebec to diversify its business partnerships,” says Mr. Côté.
In light of these findings, the IdQ recommends that Quebec companies actively promote the low-carbon nature of their products on international markets. At the same time, it urges the Quebec government to adopt a low-carbon economic strategy. Like a launch pad, this strategy would support innovative companies exporting green products, technologies or services. The government should also set an example by becoming the first purchaser of these products and services, thus becoming a showcase for the low-carbon economy.
Both reports and the executive summary are available at www.institutduquebec.ca.
About Québec Net Positif
QNP is a non-profit organization whose mission is to raise awareness, equip, and mobilize Quebec businesses to help them take advantage of the low-carbon economy. Quebec is one of the very few regions that produces nearly 100% renewable electricity. We believe that this electrical advantage can be a driver of economic development while contributing to the reduction of GHGs in Quebec and beyond.