Canada is at a critical point that will shape its energy and economic future. The Green Ribbon Panel, a coalition of industry and labor leaders formed during the pandemic, is calling for decisive action from the new government. They emphasize the need for a bold agenda to expedite nation-building projects, attract investment, and create jobs while respecting Indigenous rights and environmental commitments.

The panel believes the next 100 days present a unique opportunity for the government to implement key actions that can be included in the upcoming federal budget. Their vision is for Canada to become a clean energy superpower through practical and executable measures.

In a letter to the prime minister, the panel outlined several recommendations. First, they urge the completion of investment tax credits (ITCs) by the end of 2025. This step is crucial to signal investment certainty and prevent the loss of critical investments to other regions.

Second, the panel calls for the establishment of a national industrial policy for energy. This policy would consolidate bulk buying in the energy sector and incentivize the manufacturing of essential electricity infrastructure components, such as transformers and pumps. Additionally, they propose a long-term tariff response fund to support regions most affected by energy transitions.

The panel also emphasizes the importance of advancing Indigenous rights in energy projects. They argue that rights-holders must have stable capacity to engage in regulatory processes and environmental reviews. To facilitate this, Canada should develop a sustainable capacity framework with clear expectations for project proponents. Harmonizing federal and provincial Indigenous loan guarantee programs within the next 100 days is deemed critical.

Lastly, the panel advocates for “No Regret” investment actions. They suggest prioritizing early-stage investments and innovative financing models for large energy projects, particularly in hydro and nuclear sectors. A standardized framework could help align private sector financing with these initiatives.

With the right policy actions, the Green Ribbon Panel believes Canada can unlock billions in private investment and accelerate priority projects. They are prepared to assist in building a strong, self-reliant Canadian economy.