Canadian Manufacturers & Exporters (CME) issued the following statement following Prime Minister Justin Trudeau’s speech at the COP26 summit in Glasgow:
“Canadian manufacturers are committed to creating a clean and healthy environment for all and are ready to work with the Government of Canada to achieve its ambitious goal of net zero greenhouse gas (GHG) emissions by 2050,” said Dennis Darby, President and CEO of CME.
“In fact, many of Canada’s top industrial companies have already made net zero commitments and are taking aggressive action. However, this transition will be incredibly expensive for manufacturers—consisting of $180 billion in investment costs and $60 billion in operating costs—and presents serious competitiveness challenges for our sector. While CME is pleased to see government actions to date to assist industrial decarbonization efforts, the scale of the challenge will require much stronger government support and funding,” concluded Darby.
- The manufacturing sector represents more than 10% of Canada’s gross domestic product.
- Manufacturers directly support more than 1.7 million jobs in Canada.
- The total manufacturing sales in 2019 surpassed $685 B.
Source: Canadian Manufacturers & Exporters