Press releases
Launch : Manufacturing Sector Barometer 2022
Press release issued on 2023-04-27
Manufacturing companies perceive more benefits and opportunities than
Quebec businesses as a whole
MONTREAL, April 27, 2023 – QNP, an independent non-profit think tank, today unveils the results of the Quebec Business Transition Barometer for the manufacturing sector. This very first sectoral barometer highlights the level of commitment of manufacturing companies to climate action and the transition to a low-carbon economy.
For this important study, QNP commissioned the research firm Léger, which conducted it among 155 senior executives of manufacturing companies from October 14 to November 3, 2022. Léger compared the industry data collected from manufacturing companies to that of all companies in Quebec from QNP’s Quebec Business Transition Barometer conducted among 501 senior executives, the results of which were revealed on November 30, 2022.
“This very first sectorial barometer reveals that manufacturing companies perceive more benefits and opportunities related to climate action and the transition to a low-carbon economy than all businesses in Quebec,” highlights Anne-Josée Laquerre, General Director and co-initiator of QNP. “The study, conducted with the support of Investissement Québec, also confirms that companies that are most advanced in measuring greenhouse gas (GHG) emissions and setting reduction targets are those that have expertise internally or externally, and those whose leaders and board members are well-informed about the risks and especially, the business opportunities of the transition.”
Key findings:
- Companies in the manufacturing sector perceive more benefits and opportunities related to
climate action and the transition to a low-carbon economy than Quebec companies overall
(30% vs. 21%). The main business opportunity according to them is: Create and offer products,
solutions and services that meet new needs and market expectations (60% vs. 43%). - Manufacturing companies are significantly more likely to integrate climate considerations at the time of a major investment than all companies in Quebec(15% vs 6%). They are more likely to consider greenhouse gas (GHG) emissions and energy consumption when choosing new equipment (53% vs 42%). However, the proportion of manufacturing companies that invest in research and development to prioritize at least partly adaptation to climate change or to generate products and solutions compatible with a low-carbon economy is comparable to that of all businesses in Quebec (26% vs 22%).
- Les préoccupations et idées des employés et gestionnaires constituent le principal facteur qui déclenche le passage à l’action des entreprises manufacturières (45% vs 25%).
- The global environment/climate crisis comes second (44% vs 40%).
- – The thirdmost important element that triggers manufacturing companies to take action is :
“benefits and new business opportunities to be seized”, while this same aspect is ranked 12thfor
all Quebec companies (18% vs 4%).
- Awareness of climate change and the transition to a low-carbon economy is highest among manufacturing companies.They are significantly more likely than Quebec companies as a whole to declare they are:
– Well informed about climate change (79% vs 68%)
– Well equipped to act within their company to deal with climate change (70% vs 58%)
– Witnessing concrete examples that the transition to a low-carbon economy is already underway
within their sector of activity (32% vs 24%)
While better informed and equipped, significantly fewer manufacturing companies consider themselves ready, or in the process of being ready, to operate in a low-carbon economy (44% vs 52%). Almost half (49%) do not implement any climate action in their operations. They are also significantly more likely to be “Not confident” in being able to reduce their GHG emissions this year (60% vs 40%) and be “Not confident” in reducing their GHGs within 3 years (39% vs 29%).
“It is crucial to promote and stimulate the pursuit of new business opportunities that emerge from the transition among manufacturing companies and to ensure that a ‘GHG assessment’ is the starting point for any new investment. Awareness efforts with executives and board members must continue actively in order to encourage them to integrate climate considerations in all new investments, both tangible and intangible, which will help align their company with an increasingly plausible trajectory in light of the acceleration of the transition towards a low-carbon economy,” concludes Anne-Josée Laquerre, Executive Director and co-initiator of QNP.
For more information
Baromètre de la transition des entreprises – secteur manufacturier (27 avril 2023): Téléchargez le rapport ici
Baromètre de la transition des entreprises du Québec (tous les secteurs économiques) (30 nov. 2022) : Téléchargez le rapport ici
Pour réaliser un Baromètre sectoriel ou régionalde la transition: communiquez avec nous
ABOUT QNP
QNP is an independent non-profit think tank whose mission is to accelerate the transition to a low-carbon and “net positive” economy. Supported by the McConnell Foundation, its mission is to raise awareness, mobilize, and equip businesses—particularly SMEs and those who support them—to help them go beyond risk mitigation, seize business opportunities, and activate their full potential to create positive impacts on society and the environment.