As Canada comes out of the COVID crisis, governments and the private sector will turn their attention to building a long-term economic recovery. For that recovery to be resilient, it needs to support the jobs, infrastructure and growth that will keep Canada competitive in the clean economy of the 21st century.
That is the central message from the Task Force for a Resilient Recovery, a new and independent group of finance, policy and sustainability leaders that launched today. Task Force members, including Elizabeth Beale, former President and CEO of the Atlantic Provinces Economic Council, Barbara Zvan, former Chief Risk & Strategy Officer for the Ontario Teachers’ Pension Plan, and Don Forgeron, President and CEO of the Insurance Board of Canada, will spend the next eight weeks developing actionable recommendations on how governments can help get Canadians back to work while also building a low-carbon and resilient economy.
The fourteen Task Force members are backed by eight expert advisors, including reputed business and finance experts like Jeremy Oppenheim, as well as research organizations, Smart Prosperity Institute and the International Institute for Sustainable Development.
The Task Force will look at and assess a variety of potential recovery investments. The Resilient Recovery Framework, which was submitted to the Task Force by Smart Prosperity Institute today, is a resource that the Task Force could use in these assessments. It proposes measuring recovery investments against nine criteria, including whether they generate timely economic activity and jobs, whether the economic activity is targeted in areas that need it, and whether they support Canada’s 2030 and 2050 climate goals.
The scale and scope of Canada’s job losses will demand thoughtful approaches, with special care targeted at Canada’s oil producing regions and at the service sector. The Task Force will consider both immediate actions and longer-term investments that can support these and other parts of Canada’s economy.
“Canada’s investments to recover from COVID-19 will either lock us into a vulnerable future or put us on a resilient path towards net-zero emissions, good jobs and a strong economy,” Task Force members said in a statement. “This is an important opportunity for Canadians everywhere”, they added, “we’re determined to help Canada’s governments seize it.”
The work of the Task Force will conclude in July with the release of a final report.
Members of the Task Force for a Resilient Recovery include:
Former Chief Risk & Strategy Officer, Ontario Teachers’ Pension Plan
President, Ivey Foundation
President & CEO, Insurance Board of Canada
Former President and CEO, Atlantic Provinces Economic Council
Senior Advisor, Eurasia Group
Vice President, Climate & Economics, World Resources Institute
Professor, School of Public Policy and Administration and Department of Political Science, Carleton University
Former President and CEO, Canadian Council for Aboriginal Business
Executive Director, Clean Energy Canada
Senior Advisor, Bennett Jones
Executive Director, Strategy Corp Institute of Public Policy and Economy
Executive Director, The Houssain Foundation
President and CEO, International Institute for Sustainable Development
Founder and Chair, Smart Prosperity Institute