Minister Olszewski highlights Budget 2025's new Climate Competitiveness Strategy

CALGARY, AB, Nov. 9, 2025 /CNW/ - Climate action is not only a moral responsibility—it's an economic necessity. The global shift to a low-carbon economy is accelerating, changing how growth happens and where capital flows. To stay competitive, Canada must catalyse investment across clean and conventional sectors so our industries can meet the world's rising demand for low-carbon products and energy. In the face of global uncertainty, Canada's new government is focused on what we can control. How we respond to the challenge of climate disruptions will influence Canada's economic competitiveness, drive new investment opportunities and shape our global standing for generations to come. Canada must take action to fight climate change, drive down emissions and invest in building the economy of the future.

Today, the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan) highlighted Canada's Climate Competitiveness Strategy—a strategy based on driving investment and achieving results. Building on Canada's competitive advantages and global standing as a clean energy superpower, the strategy will strengthen our economy by:

• Strengthening industrial carbon pricing
• Providing clarity on regulations to reduce greenhouse gas emissions
• Boosting clean economy investment through tax credits
• Supporting critical minerals projects
• Mobilising capital for the transition to net-zero
• Developing new metrics to track our success

The Climate Competitiveness Strategy will help Canada build the strongest economy in the G7. With this strategy, we can leverage Canada's unique strengths—like our abundant natural resources and innovation in clean technology—to attract investment, create good jobs in communities across the country, and ensure Canada continues to be competitive on the world stage. Every step we take to build infrastructure, train workers, and support innovation in this is an investment in Canada's long-term prosperity.

The strategy will create the conditions to propel Canada's competitive advantage through investments in clean growth technologies. By investing in innovation and scaling homegrown solutions, we will position Canadian companies to lead. We will leverage Canadian clean technology to reduce the emissions intensity of the energy we generate, and the products and resources we produce. This will both address climate change and open more economic opportunities internationally.

Canada has the assets to lead and seize the tremendous opportunities of the historic transformation towards low-carbon energy, growing jobs and improving affordability across the economy.

Canada's Climate Competitiveness Strategy will help build Canada Strong by establishing a competitive advantage that will set us on track toward a more resilient economic and environmental future.

Quotes

"Budget 2025 delivers a plan for Canadians – one that invests in our people, our industries, and our future. The Climate Competitiveness Strategy is about betting on ourselves: on Canadian ingenuity, clean energy, and the workers and businesses that will drive the next generation of growth and prosperity."
–The Right Honourable Mark Carney, Prime Minister

"Canada must act with urgency, unity and determination. At this critical moment, we have a choice: lead—and seize the opportunities of the energy transition—or get left behind. With the Climate Competitiveness Strategy, we are positioning climate action and economic growth as inseparable, aiming to build a stronger, more sustainable, and more competitive Canada for decades to come. This will help us take action in a way that prioritises affordability for Canadians and strengthens our economy."
–The Honourable Julie Dabrusin, Minister of Environment and Climate Change

"To build the strongest economy in the G7, we need to invest in our businesses and be a leader in climate actions. Canada's Climate Competitiveness Strategy aims to do just that by strengthening industrial resilience in a decarbonizing global market. Our new government is committed to build a stronger Canada and a better future for every generation."
–The Honourable Eleanor Olszewksi, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan)

"Canada's long-term economic prosperity depends on staying competitive in a world that's rapidly moving toward clean growth and low-carbon innovation. This strategy is about backing Canadian workers and businesses with the tools they need to lead, seize new opportunities, and build a stronger, cleaner, and more competitive economy for the future."
–Corey Hogan, Member of Parliament for Calgary Confederation and Parliamentary Secretary to the Minister of Energy and Natural Resources

Quick facts

• Canada's economy is now 34% less carbon-intensive than it was in 2005 thanks to energy efficiency improvements, decarbonisation of the electricity grid, and structural shifts in the economy.
• Canada has decoupled economic growth from emissions. From 2005 to 2023, Canada's greenhouse gas emissions decreased by 8.5%, while gross domestic product grew by 38%.
• In 2024, global investments in clean energy reached over $2.8 trillion—nearly double the level of investment in fossil fuels—and the global clean technology market is expected to triple by 2035.
• Climate change is a growing threat to Canada and the world. We are already seeing the risks and costs of climate change through extreme weather events like the wildfires burning throughout Canada this summer as well as drought, floods and more severe storms.
• Over the last decade, the average yearly cost of weather-related disasters and catastrophic losses has risen to the equivalent of 5-6% of Canada's annual GDP growth. 2024 was the most destructive season in Canadian history for insured losses from severe weather. The Insurance Bureau of Canada says extreme weather events caused $9.2 billion in insured losses.
• The Climate Competitiveness Strategy provides a chance to retool and reinvest in building Canada strong and sustainable, working closely with provinces, territories and Indigenous partners by focusing on shared economic and climate goals.
• The Climate Competitiveness Strategy complements and does not replace the 2030 Emissions Reduction Plan and other actions we will continue to take under the Canadian Net-Zero Emissions Accountability Act.
• The strategy outlines whole-of-government action to mobilise public and private sector capital. This includes finalising investment tax credits, launching sustainable investment guidelines, and continuing to offer Carbon Contracts for Difference through the Canada Growth Fund to de-risk investments.
• The Climate Competitiveness Strategy aligns with and advances the work on accelerating major nation-building projects, to enable clean growth, address climate change, and strengthen Canada's industries.

Associated links

• Canada's Climate Competitiveness Strategy
• Industrial carbon pricing
• Canada's clean electricity future
• Reducing methane emissions
• Canada's Electric Vehicle Availability Standard
• Clean Fuel Regulations

SOURCE Prairies Economic Development Canada