Over the past year public concern about climate change dropped considerably first due to the high cost of living and, more recently, the economic chaos sown by President Trump. Some see this as a reason to drop climate policies and reverse support for clean energy and tech and efforts to decarbonize industries like cement and steel, in favour of growing oil and gas exports. But that would be a fundamental misreading of the economic landscape and public opinion.

Why?

Simply put, clean energy and tech are becoming more valuable and in demand, not less, as the world seeks greater energy security and diverse supply chains.

This relative priority is shared by investors. In 2024, nearly $3 trillion CAD was invested in the energy transition—twice as much as fossil fuels—and it’s growing over 20 per cent per year. This creates new opportunities for Canada to supply clean tech and expand production of the critical minerals that are needed for all the batteries and tech—the global market for which is expected to double in the next 15 years.  

Canada’s opportunity extends beyond our mineral reserves. Our energy transition sectors, which includes clean energy (renewable energy, hydrogen, CCS, nuclear and energy storage), power grids, electrified heat, clean industry (including steel and cement), clean shipping and electrified transport, have seen investments more than double since 2020, earning Canada eighth place in the world for clean investments in 2024. 

Our clean electricity grid—80 per cent emissions free—and industrial carbon price also serves Canadian governments and businesses well as they seek new trade relationships. Our top ten largest trading partners outside the U.S. each have policies in place to favour low-carbon imports. And corporate sector commitments are also driving investment in Canada. For instance, the world’s first emissions-free aluminum is being produced in Quebec, catalyzed by Apple’s net-zero materials pledge. 

Clean energy also happens to be more secure—a top priority in this era of geopolitical uncertainty. Many of Canada’s major trading partners rely on fossil fuel imports via highly vulnerable supply chains (as highlighted recently by Iran's threats to close the Strait of Hormuz). The clean economy, powered by one-off imports of technological equipment that can be manufactured in multiple countries, reduces risk exposure. A recent study by the Net-Zero Industrial Policy Lab at Johns Hopkins University, for example, found that BRICS countries are making clean energy and manufacturing “central to national economic and security strategies.” 

Canada has many assets to offer the world in this new era of trade, driven by energy security and increasingly powered by clean electricity. Our major trading partners are seeking critical minerals, clean technologies and stable governments. Canada has the competitive advantages to play a leading role in this new marketplace and provide real benefits to the whole country’s economy, including stable jobs and economic growth for years to come.

The premiers are clearly aware of this advantage, as we’ve seen B.C., Ontario, Quebec and Manitoba pitch their emissions-free grids as assets to entice new investments. But to fully seize this advantage, our provincial and federal leaders need to prioritize these Canadian sectors and opportunities in their discussions about our economic future. Together, they need to set (and meet) goals, create market certainty for investors, and spur capital investments to get things built.  

There are strong new trade winds blowing. Catching them now can speed Canada ahead toward a stronger position in the global economy. 

Merran Smith is president of New Economy Canada, a non-partisan initiative that unites over 60 companies, industrial sector associations, as well as labour and Indigenous organizations, all committed to accelerating investment in Canada’s clean economy. Their recently published report Strong signals in the noise documents how Canada can seize Canada’s clean investment opportunity in turbulent times.