(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Feb. 25, 2024 (GLOBE NEWSWIRE) -- The Asia Pacific Foundation of Canada is pleased to announce the release of Climate Solutions and Cleantech: Building a Greener Indo-Pacific Region Through Foreign Direct Investment providing timely analysis of two-way Canada-Asia investments in renewable energy and electric vehicles (EVs).
APF Canada's second Investment Monitor Report of 2024, Climate Solutions and Cleantech captures C$29 billion in bilateral investments between Canada and Asia in the renewables sector from 2003 to 2023. The report was released today ahead of the Canada-in-Asia Conferences 2024 event in Singapore (Feb. 26-29), co-hosted by APF Canada and Universities Canada and focused on transpacific collaboration on climate solutions and agri-food.
Understanding major trends in the Canada-Asia renewable energy and EV investment relationship over the past 20 years will better position today's Canadian cleantech companies for successful integration into regional supply chains across the fast-growing and dynamic economies of the Indo-Pacific region.
Highlights of Climate Solutions and Cleantech: Building a Greener Indo-Pacific Region Through Foreign Direct Investment include:
In the renewables sector , Canadian outward investment accounted for 70% of two-way renewables investment between Canada and the Asia Pacific during the 20 years between 2003 and 2023. In the EV sector , meanwhile, 64% of two-way investment was driven by Asian economies.
At the national level, the report shows Canadian investment diversification from China, with an increase in two-way investment with Australia, Taiwan, India, and South Korea that started in the 2010s and has since grown to comprise 67% of total two-way investment.
China is Canada's fifth-largest investment partner, with C$3 exchanged between 2003 and 2022, but this is primarily due to investments in the 2000-2010 period and is not a reflection of recent trends.
At the subnational level, three of Australia 's states – New South Wales, Western Australia, and Queensland – accounted for 25% of Canadian investment in renewable energy and EVs in the region.
On the Canadian side of the investment relationship, the province of Ontario has been the largest recipient of Asian investment in renewables and EVs in Canada, attracting almost 90% of this investment ( C$10 ) over the past 20 years. Nearly one-half of this amount was invested in Ontario in the last four years, suggesting that province's push to become an EV hub may be starting to pay off.
State-owned-enterprises (SOEs) play an outsized role in Canada-Asia clean technology investment; over the past decade, the majority of SOE investment was from Canadian SOEs , all of which were Canadian pension funds , accounting for 74% of total two-way SOE investment since 2003.
Furthermore, 98% of this investment from Canadian pension funds occurred in the past five years , which suggests these Canadian SOEs are anticipating continued growth in the clean technology sector.
Climate Solutions and Cleantech: Building a Greener Indo-Pacific Region Through Foreign Direct Investment draws on data from the Asia Pacific Foundation of Canada's Investment Monitor database, which provides information on Canada-Asia Pacific investment flows at the national and sub-national levels. The database is publicly available on the Investment Monitor website, investmentmonitor .
Learn More:
Read our latest Investment Monitor Report Explore the Investment Monitor interactive website
The Asia Pacific Foundation of Canada is a not-for-profit organization focused on Canada's relations with Asia. Learn more about the Foundation at
Media Contact:
Asia Pacific Foundation of Canada
Michael Roberts, Communications Director
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