OTTAWA, ONTARIO--(Marketwire - June 3, 2011) - An important new report from the Organization for Economic Cooperation and Development (OECD) confirms that environmentally friendly innovation, also known as eco-innovation, can foster economic development and drive green growth. However governmental policy intervention is needed because market mechanisms alone do not necessarily provide the right level of eco-innovation at the right time, according to the report Better Policies to Support Eco-Innovation, discussed today at an Ottawa conference organized by the Public Policy Forum.
"The cleantech industry in Canada is evolving and maturing rapidly, as recent developments have shown," said Céline Bak, an editorial board member of the new magazine Impact, which gives voice to the diverse sectors of Canada's cleantech industry. Bak is also a partner with Analytica Advisors and a co-leader of the Canadian Clean Technology Coalition. "The OECD report underscores what the cleantech industry has been telling the federal government – that the right eco-innovation policy interventions will ensure strong economic growth for Canada."
Bak said the OECD report, recent good news about Solazyme (a U.S. renewable fuels firm) setting a sector IPO record for industrial biotechnology, and recent good news that Toronto-based Morgan Solar closed $16.5 million in funding, are all indicators that the cleantech industry is maturing. Another sign of that maturity is Impact magazine – the first that brings all the various sectors of the Canadian cleantech industry together in one publication that discusses cleantech issues and helps industry dialogue.
"Impact will help stimulate the cleantech dialogue in Canada and help focus our efforts on solutions to bolster the industry's growing share of the Canadian economy," said Bak. "The very fact that Impact now exists is a sign of the cleantech industry's maturity."
Some of the stories in Impact (for PDF of entire magazine, visit www.cleantechimpact.ca):
Profile of successful Canadian company Enerkem – touted as another hot bioenergy company, along with Solazyme, to watch. Enerkem uses a thermal process to convert garbage to syngas, which is used to produce ethanol fuel and to make industrial chemicals such as methanol, acetic acid and acetates.
2011 is the Year of Investment: Increasing numbers of corporate mergers and acquisitions and a growing retail investor appetite for certain publicly traded clean technology companies has one industry analyst predicting that 2011 will be a strong year for cleantech investment.
A definitive report – the 2010 Cleantech Growth and Go-to-Market Report by Sustainable Development Technology Canada – finds that clean technologies have arrived and are ready to thrive. The 2011 version of this report – the only one to track Canadian cleantech industry figures – is now underway. (Please see www.cleantechnologyreport2010.ca/)
As discussed in Impact, the cleantech industry compares with the aerospace and defence industry, said Bak. Both are technology-based, highly export-focused, have similar requirements for ongoing investment in research and development, and rely on combinations of private and public procurement. But the cleantech industry is developing much faster, she said. "It's taken four decades to build the aerospace and defence industry, but just 15 years so far for cleantech. We have the potential to get to the same scale as aerospace and defence in far fewer years."
The next issue of the bilingual, biannual Impact will be published in October.