In accordance with the Cabinet Directive on the Environmental Assessment of Policy, Plan and Program Proposals, a detailed Strategic Environmental Assessment (SEA) was completed for the Business Development Bank of Canada (BDC) which was announced as part of Budget 2017. As part of the Innovation and Skills Plan announced in Budget 2017, the Business Development Bank of Canada (BDC) will invest $700 million over five years into high-potential Cleantech firms to help expand their operations and hire additional staff. The degree of the impact of this initiative will become clear as investments are made and companies develop and deploy new technologies in the Canadian economic and abroad.
Further, this initiative could have a positive impact on the achievement of the goals and targets of the Federal Sustainable Development Strategy. Depending on the nature of the projects supported, the initiative could contribute to the following goal:
Goal 5: Clean growth
- Long-term goal: A growing clean technology industry in Canada contributes to clean growth and the transition to a low-carbon economy
- The initiative will assist in the development of new technologies that improve the effective use of resources to stimulate clean and sustainable growth.