BC Clean Economy Market Study (2012)

Industry Insights on Job Creation and Investment Promotion in B.C.'s Clean Economy

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Overview

GLOBE Advisors undertook six months of research in 2012 examining three high-growth sectors in British Columbia's clean economy - specifically Clean Energy Supply and Storage; Green Building and Energy Efficiency; and Clean Transportation. From this research, GLOBE Advisors published three market reports - one on each of these three key sectors.

These reports build on GLOBE's West Coast Clean Economy study released in March 2012 and provide critical insights on job creation and investment promotion opportunities in British Columbia. The job numbers presented in the reports were quantified using updated and proven methodologies that allow for the identification of industries and occupations that are part of these sectors in B.C.

Secondary research and employment estimates for this study were backed up by extensive consultation and outreach activities, including more than 90 in-depth interviews with industry leaders from successful B.C. companies, academic institutions, government agencies, and non-governmental organizations. The interviews were designed to identify current trends, economic development opportunities and challenges, and employment demand and supply issues.

In addition, GLOBE Advisors was involved in organizing a one-day "Green Workforce Development Symposium" alongside the City of Vancouver, the Vancouver Economic Commission, and six public post-secondary institutions in March 2012 that was designed to explore current and potential future employment opportunities and challenges in BC's clean economy.

Key Findings

In 2011, the Clean Energy Supply and Storage, Clean Transportation, and Green Building and Energy Efficiency sectors in B.C. were responsible for 123,350 full-time equivalent (FTE) jobs (75,170 direct and 48,180 indirect) and over $15 billion in gross domestic product ($10.7 billion direct and $4.4 billion indirect).
Local B.C. companies are working to provide innovative solutions to address domestic and global challenges with products that range from lithium-ion batteries used as back-up power for telecommunications, to ultra energy-efficient fiberglass windows and doors, to intelligent transportation system (ITS) technologies for transit fleet management.
Many companies have recently expanded to meet rising demand for their products and services and some have seen double-digit employment growth despite recent market volatilities.
Supportive public policies and programs, as well as close partnerships between government, industry, research facilities, and post-secondary institutions, have proven critical for company success.
At the provincial level, overarching public policies such as B.C.'s Greenhouse Gas Reduction Targets Act, the Carbon Tax, and the Clean Energy Act, as well as program's such as LiveSmart, have been critical for growing jobs and boosting investment in these sectors.
Programs offered by organizations such as MITACS, Sustainable Development Technology Canada (SDTC), and the National Research Council (NRC) have also been essential to the success of companies in the development of leading-edge products and clean technologies.
Companies continue to face challenges in terms of growing customer awareness and understanding for the benefits and value of their innovative products and services.
Overcoming the real and perceived risks involved with new technology adoption and sourcing the skilled and qualified professionals needed are other issues of concern to the companies consulted during the research.
Finding the capital and resources required for expansion plans were identified as perennial challenges faced by companies in all three sectors analyzed.
Accelerating investment and job creation in B.C.'s clean economy will require continued government leadership through supportive public policies, programs, and procurement; improved public education and engagement; innovative business and financing models; greater efforts to promote collaboration and knowledge transfer; and improved access to skilled labour, education, and training.
Demonstration projects that showcase B.C. products and solutions are seen as critical for showcasing opportunities for new technologies and as tools for education and training.

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