By Michael Boriero
Last week, Pascale St-Onge, federal minister of sport and minister responsible for the Canada Economic Development (CED) Agency for Quebec Regions, announced an investment of $50 million to support the green transition for small and medium-sized enterprises (SMEs).
According to a press release, the CED “is convinced that the long-term competitiveness of the economy is largely dependent on innovation and on the greener and more inclusive growth of Quebec SMEs.” And the government agency wants to provide SMEs with the proper expertise.
St-Onge also revealed a new environmental, social and governance (ESG) action plan. The CED intends to increase its support for the green transition of SMEs by doubling its annual funding target for projects to $50 million within three years, and creating an extensive roadmap.
The plan also includes placing more importance on the ESG criteria, increasing funding for organizations that “incorporate eco-responsible practices into their operations.” And the government will set up an advisory committee to support St-Onge’s green transition for SMEs.
The CED will also be working on an environmental grid over the next few months. The grid will “be applied to all its programs to help raise awareness among businesses and gain a better understanding of their needs and practices.” The CED is trying to build a sustainable economy.