The Foresight Canada team at the Clean50 award ceremony.
In March, the Intergovernmental Panel on Climate Change (IPCC) released its Synthesis Report for the Sixth Assessment Report, providing an integrated review of climate change science and an assessment of efforts to reduce greenhouse gases by
50 per cent by 2030 to limit climate change within 1.5 degrees Celsius of pre-industrial levels. The report does not paint a rosy picture.
“The climate time-bomb is ticking,” said António Guterres, secretary-general of the United Nations, commenting on the study. “Humanity is on thin ice – and that ice is melting fast.”
Foresight Canada, a cleantech ecosystem accelerator, is working relentlessly towards building a low-carbon future and ensuring that Canada can meet and exceed its commitment to the Paris Climate Agreement, says CEO Jeanette Jackson.
The national organization, with offices in British Columbia, Alberta and Ontario, is intent on addressing the question: “How can we quickly decarbonize Canadian industry and be the first G7 country to reach net zero?”
To accelerate this transition and stave off the potentially catastrophic consequences of rising temperatures, climate solutions need to be rapidly launched, commercialized and scaled, explains Ms. Jackson. Foresight Canada, celebrating its 10th anniversary in April, brings together innovators, industry, investors, government and academia to tackle the climate emergency.
“We’ve supported almost 500 ventures through our accelerator programming and an additional 500 Canadian ventures through other programs, such as our innovation challenges, and access to capital activities,” reports Ms. Jackson. “In the last two years, 40 of these ventures that feature low carbon footprint technologies, freshwater reclamation and emission reduction technologies have secured over a billion dollars in capital.”
The organization co-ordinates a significant amount of “curated matchmaking” between industry and municipalities. This ideally results in a pilot project or commercial opportunity for domestic adoption, says Ms. Jackson.
Building strength in ecosystems by sector and region, says Ms. Jackson, is another way that Foresight Canada helps “move the needle towards Canada reaching its net-zero climate targets.”
An example is carbonNEXT, a carbon-tech commercialization hub, established by Foresight and Carbon Management Canada to “drive development and scaling of Canadian carbon capture, utilization and storage (CCUS) ventures.
“We fundamentally believe that we are better together,” says Ms. Jackson.
“We need problem-driven innovation. We need adoption of solutions, and we need to celebrate those wins.”
Foresight Canada shines a light on cleantech innovators while directly connecting companies with investors, customers and partners through its Foresight50 project.
“We profile Canada’s 50 most investable cleantech companies. The first year alone, those ventures raised nearly $600-million.
“We’re into year two, and I can’t wait to showcase Canadian talent and help attract investment in those ventures” that will ultimately make a difference in tackling the climate crisis, she says.
