A green and sustainable economy can be defined as one “that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities”.
(Source: United Nations Environment Program).
235,000 – 400,000
Number of new jobs to be generated through the sustainable economic transition
$125 -140 billion
The required annual private and government investment needed to complete the transition to a net-zero economy
(Source: Federal Budget 2022)
Canada’s target for carbon emissions reduction by 2030 (vs. 2005 levels)
(Source: Government of Canada)
In Canada, this transition to a sustainable economy can be seen on two fronts:
- the transformation of traditional industries, especially through the implementation of net-zero emission targets for these businesses to contribute to the overall carbon emission reduction;
- the emergence of new sectors and industries that will help Canada compete in a decarbonized global economy.
This sustainable transition will have a significant impact both in terms of new job opportunities and of skills development needed for existing jobs. According to RBC, 3.1 million jobs (almost 15% of the workforce) will be disrupted over the next 10 years. Many sectors will be affected by these changes including oil and gas, agriculture and food, mining and automotive – among many others.
These green career pathways (in both new and existing industries) can also bring significant opportunities through the upskilling of the workforce, with between 235,000 and 400,000 new jobs potentially added in industries where enhanced skills will be critical.
FSC and its partners have made skills for sustainable futures a strategic priority in order to help Canadian employers and workers navigate the sustainable transition. We support work that identifies current and future skills needs, tests new ways to support the skills development of workers in transitions, and helps employers identify current and future sources of skilled labour.
The transition to a net zero economy will be felt unevenly in different regions, populations and industries. FSC is working with local partners and stakeholders to gain an understanding and ensure that our actions respond to the needs of all — both in terms of environmental impact and for employment opportunities.