In every economic downfall, whatever the cause, recovery is to be expected and the question will only be how. For Canada, the call to recover in alignment with the climate goals has even been seen as more urgent than before, and it kept some wondering that if investing in the goals was even considered before then. It turns out that the US did much more than Canada.
During the term of President Barack Obama, the US had allotted a budget of 112 billion US dollars on stimulus packages for clean energy. It may be a portion of their total national budget, but it was way larger compared to the Stephen Harper-led Canada with a budget of only 3 billion US dollars.
The Obama-led US administration had gained progress on their allocation as it leveraged 150 billion dollars in private capital, and in the span of 2009 to 2015, around 900,000 jobs were being supported. This includes the re-employment of the ones who suffered during the housing market crash.
Since then, the use of alternative sources has increased many folds. For Canada, the lessons learned have something to do with the criteria for deciding on stimulus proposals. These are:
- Concern for job opportunities, revenue, and security
- Impact on the economy on a long-term basis
- Effectiveness on dealing with climate change
With these criteria, the frameworks shall be able to address them so that Canada can make more shovel-worthy decisions.