New analysis from Clean Energy Canada shows that renewing British Columbia’s commitment to climate leadership would create jobs and bolster the province’s economy.
It would deliver increased economic activity, reduce household energy costs and better position BC businesses to compete, while also cutting carbon pollution.
British Columbians would have 270,000 more job prospects in 2025 than today, and easily triple that by 2050, with strong energy and climate policies in effect. These jobs would be spread across sectors and across the province, meaning communities throughout British Columbia will see new economic opportunities.
Provincial GDP would grow at roughly two per cent a year – the same rate projected with or without climate policy – adding a healthy $46 billion over the next 10 years, and nearly doubling by 2050.
Households stand to benefit, too.
With strong climate policy, British Columbians would save money by using less energy.
An average rural household would save $1,200 a year and urban households would save roughly $900 per year simply by replacing worn out furnaces and old vehicles over the next 15 years.
The report outlines a mix of policy tools that would position BC to maintain its competitive advantage as a climate leader as the rest of North America follows its lead. It is based on new modelling by Navius Research, commissioned by Clean Energy Canada to quantify the economic, job and affordability implications of meeting BC’s 2050 climate target.
“This research makes it clear that British Columbian families and industries stand to gain from strong climate policies,” said Merran Smith, Executive Director of Clean Energy Canada. “BC has the opportunity to create new jobs and economic growth, while being recognized around the world as a climate leader. In other words, climate leadership pays off.
“Leading on climate and building a prosperous economy are two sides of the same coin. In the next decade, British Columbia can cut carbon pollution while creating 270,000 new jobs and growing its economy by $46 billion.”