Canada Poised To Benefit From Transition
Canada is well-positioned to benefit from the transition to a net-zero economy, says Bryan Pilsworth, president, CEO, and portfolio manager at Foyston Gordon & Payne. Speaking at its ‘Inflection Point: The Case for Canada,’ he said there have been some inflections including Donald Trump coming into office and trying to change trade relations with China and the Ukraine war which is having ramifications and ripple effects around the world. As well, the world is transitioning from an energy perspective in the way it moves and accesses power. The biggest change is the cost of money. With interest rates rising after 40 years of decline, now there is a cost to money so everything changes. Canada is well-positioned to benefit in this changing world. As a result of immigration, its population is growing. None of its peers in the G-7 are experiencing similar growth and it will result in GDP growth. As a time when more resources will be needed for the energy transition, Canada is rich in resource diversity and it is no longer just providing resources with no added value. Canadian materials and industrials will be in demand for longer. Copper, for example, is necessary in a world that is decarbonizing and moving to electrification. Canada has the minerals needed for the energy transition, he said.