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Results: 1 - 15 of 266
View Emmanuella Lambropoulos Profile
Lib. (QC)
Thank you, Madam Chair.
I'd like to thank all of our witnesses for being with us to answer our questions today.
Mr. Carney, my questions will mainly be going to you.
As you know, it's still quite expensive for companies, especially smaller businesses, to transition to greener practices at this point in time.
I'm asking, from an investor's perspective, if you can give some advice to smaller and medium-sized businesses in order to help them successfully transition to net zero. Also, what can the government do to help them get to that point?
Mark Carney
View Mark Carney Profile
Mark Carney
2021-05-27 12:09
Well, one of the ways to help small and medium-sized businesses is to ensure that our larger businesses are transitioning to net zero and are doing so in a transparent and comprehensive fashion.
Let me explain what I mean by that. The extent to which the larger companies include not just their own emissions from their activities but also the power scope 2 emissions, as you're familiar with, but also scope 3 emissions, very importantly—in other words, the emissions of their major suppliers and downstream customers—that creates an alignment of incentives between the various companies that can promote the reduction of those emissions.
With regard to elements that are associated with the disclosure of those emissions, I referenced in my opening comments the TCFD disclosure requirements. I also referenced net-zero transition plans, and the comprehensive plans that companies have that increasingly Canadians are putting in place. I referenced consistent requirements for the financial sector, including, very importantly, banks, which are, of course, the biggest source of finance for small and medium-sized enterprises. That could create an alignment and provide capital for exactly the type of emissions reductions....
If I may, as a final point, this is the heart of the publicly disclosed, publicly available, universally applied COP26 private finance strategy, for which I serve the UN.
View Helena Jaczek Profile
Lib. (ON)
Going back to the issue of lenders, you talked about the banks being reasonable. Perhaps with large businesses there's potentially more negotiation, but do you not think that perhaps your bill would have a greater impact on small and medium-sized businesses, which certainly have more difficulty securing loans at a reasonable rate?
John Galt
View John Galt Profile
John Galt
2021-05-13 11:22
Thank you very much, everyone, for giving me the opportunity to talk at this very important point. I'll have a slightly different approach from the people who preceded me.
I work for Husky, and we ultimately convert raw materials into finished goods. I've spent almost 37 years of my life around the world helping customers make things like medical syringes, IV connectors, bottles, food containers and other things of that nature. The majority of what goes through our products is plastic, although we do process other materials.
When I think about Canada's economic recovery, I start first with the plastics industry. I think that incentivizing investment in Canada's plastics industry is crucial. Responsibly managed plastics have a lower environmental footprint than any of the alternatives. On top of that, fully 73% of all medical consumables used in the world—and that number has been growing—are made out of plastic. The plastics industry employs 370,000 people across the country; it represents $35 billion of GDP; and it is led by small and medium-sized organizations, which, as we know, are at the core of the economy and an essential group when we think about engaging them to build out the business.
The second element for me is the importance of the free economy. What I mean by this is that small business is already very fragile, and the actions over the last year and a half have really put a tremendous toll on a lot of small businesses. Some 99.8% of all Canadian businesses are small and medium-sized. Those entrepreneurs are the key to unlocking prosperity for the country. They have played that role historically, and engaging that group in thinking about how to do is very substantial in importance. That's why, when it comes to plastic, I'm a strong advocate of the circular economy. I've seen it around the world. Just last week, I was in one of the largest recyclers on the west coast. We're involved directly in processing a multitude of materials, and that's the solution for Canada's economy and to grow industry and small business even further.
The third thing, which has already been mentioned, but of course is crucial, is this concept of getting this pandemic behind us and getting Canadians access to the vaccines and the freedom they deserve. Nothing has been more devastating to the economy than the lockdowns and what we've all experienced. I think we realize that we could have done a whole lot better job at managing the pandemic and the vaccines relative to our neighbours in the south, where 60% of those wishing to be vaccinated have already had both doses, and where they're now incentivizing the remaining groups of people, where the economies are opening up, where there's been an unprecedented economic boom. The six customers I visit in the U.S. are all struggling to find enough people to keep up with the incredible demands on their business. Nothing could be more crucial than opening the free economy and getting the vaccines
The last comment I'd like to offer the committee is really about how we go about this issue. I have really been harmed, I guess, emotionally, being a Canadian, by the concept of “essential” and “non-essential” citizens. I don't like that terms. Canada to me has always meant that everyone was created equal, with the right to speak, the right to pursue their purposes. My neighbours who work in businesses that are deemed non-essential, I consider essential Canadians. Any type of recommendation that comes out of this that continues to designate people as “essential” or “non-essential”, in my opinion, is un-Canadian.
Look at some of the impact on those smaller businesses, with people whom I work with, my neighbours. In Toronto, for example, there were 306 days lost since the pandemic started when it comes to restaurants. Gyms has lost299 days. Hair and nail salons have lost 277 days. Small retailers have lost 161 days. Closures have put two million jobs at risk across the country, and almost half a million working moms have lost their job as a result of the pandemic, and as of January, have not gotten those jobs back. We look at the restaurant industry in Canada, and the impact is staggering: 10,000 restaurants have closed, 320,000 jobs have been lost. Six out of 10 of those who have lost jobs in that industry are women; 50% of those businesses are run by new Canadians; and the industry is the number one source of first jobs for young Canadians.
You can see that the impact across all of these segments has been devastating, and being assigned non-essential status doesn't make sense to me. I've asked every level of government where the scientific evidence is to suggest that funnelling every person through a smaller number of larger establishments when each of those establishments has the same hygiene standards is less risky than allowing small business to perform appropriately to maintain their ability to remain open to ensure that their livelihoods are secure, while maintaining the security of people in the process. I haven't gotten any answers yet to that.
That's probably the most significant part, to me. We need to build. We can take the industries and grow them. I think working with small business and greening them is the right solution.
Thank you very much.
View Tony Baldinelli Profile
CPC (ON)
I'll go now, quickly, to Mr. Galt and his presentation.
The federal government has committed $1 billion over five years to attract private sector investment in clean tech projects.
The question is, as we've heard from other witnesses, how do we ensure that kind of money gets down to your point, to the small and medium-sized enterprises, which have more difficulties accessing those types of funds that are available from the federal government?
John Galt
View John Galt Profile
John Galt
2021-05-13 11:38
That's a great question. I don't know that I have a perfect answer. The point, however, is that it is exactly what we need to do.
First of all, we have to begin with the dialogue. How do I green my business? Do we agree on the same goals at the end, to lessen the impact on the economy? Can we turn that entrepreneurially into an opportunity to hire, to engage and to build a larger industry? Those are the things at the core of it that people need.
What they don't need are the concepts of regulations.
One I'm facing right now is the whole push back on plastics. I've been around the world for the last 10 years supplying customers with technology to support the circular economy. Plastic melts at 280 degrees, aluminum at 660 degrees, and glass at 1600 degrees. If we talk energy, plastic has the lowest environmental footprint if it's collected and reused.
What I myself, and all small businesses, find at times is not having the opportunity to engage.
I'm sorry. The time is up.
View Helena Jaczek Profile
Lib. (ON)
Thank you very much, Madam Chair.
Thank you to all the witnesses today. We often speak about diverse views. I think today we've had some views that might almost be described as polar opposites.
My first question is to Mr. Kung.
First of all, I want to congratulate you on your entrepreneurial spirit and your ability to move to where the market is. Have you been able to take advantage, as a small business owner or founder, of any government programs through the pandemic? What has that meant for your business?
Alexander Kung
View Alexander Kung Profile
Alexander Kung
2021-05-11 12:30
We did apply for one of the grants. That was in December 2020. That did help us innovate a little bit more. In terms of any other government funding, no, we really haven't received much or applied for many of those.
View Helena Jaczek Profile
Lib. (ON)
We've heard from other witnesses that small and medium-sized enterprises actually have quite a difficult time navigating what the opportunities are. I'm wondering if you have any recommendations, as a small business, for the federal government in terms of the economic recovery going forward.
Could you give us some ideas that could help your type of business?
Alexander Kung
View Alexander Kung Profile
Alexander Kung
2021-05-11 12:30
Yes, of course. In terms of a business of our size, especially as a new business, a lot of our pain points are getting noticed and making an impact, especially at the scale of what we operate. We would definitely like to see more access to funding.
We would also like to touch a little more on the Canadian companies that we actually partner up with. There are so many wonderful Canadian company owners here right now manufacturing PPE and other green products. A lot of us look for these requests for proposals that the federal and the provincial governments release for bids and tenders.
Unfortunately, a lot of us get overlooked in terms of our competitiveness and the prices that we can offer. A lot of these are awarded to imported products, like imported straws or imported takeout containers. Everything is very hard for us to compete with, especially with the labour and the wage that it costs for us to manufacture even one straw.
For example, an imported straw from China can cost less than half a cent. For us to manufacture just one paper straw on Canadian soil with Canadian labour, it costs us about seven or eight cents. It is very hard for us to compete, although we do target a little bit of the pain points. For straws, we don't just make a regular straw. A pain point is that when people drink out of paper straws, they get soggy and it's disgusting when you get [Technical Difficulty—Editor] in your mouth. We came up with a brand new coating. It is our own trademarked coating. We have paper straws that actually last in your drink for eight to 12 hours. We did target these pain points and come up with new ways to help people move. At the same time, straws are a cheap product, but any green solution is a solution.
View Brian Masse Profile
NDP (ON)
View Brian Masse Profile
2021-05-04 12:44
I'm sorry to cut you off, but I'm going to run out of time.
How important is it to redirect or redistribute to small businesses, say for example, who right now are really struggling, and to keep them in some type of structure to be able to compete afterwards?
I'm worried about small business getting side-swiped during all of this and a lot of bankruptcy.
D.T. Cochrane
View D.T. Cochrane Profile
D.T. Cochrane
2021-05-04 12:44
Put the money there. Support them. Support those small businesses. Support the local economy. Support the things that will keep our communities thriving. If the concern is that the debt is growing, then you can find the money where it is, which is with the wealthy.
View Helena Jaczek Profile
Lib. (ON)
Thank you very much, Madam Chair.
Thank you to all our witnesses. You've brought an absolute wealth of expertise to your testimony today.
I would like to start with Ms. Bak.
Ms. Bak, in my riding of Markham—Stouffville there are so many small and medium-sized enterprises that want to do their bit in terms of reducing their carbon footprints. We heard earlier this week from Green Economy Canada that they're finding it particularly difficult to navigate the various opportunities, and as a non-profit, it is assisting those small and medium-sized enterprises.
You made reference to something in the EU where, as part of a project application, as I understood you to say, larger companies need to engage with SMEs as they put their projects forward. Could you expand on how that's working in the EU so that we might have some lessons here for us?
Céline Bak
View Céline Bak Profile
Céline Bak
2021-04-29 11:44
The EU has a very concerted strategy to enable SMEs to become a more significant part of its economy. It's not a surprise, therefore, that when the EU decides to deploy over $700 billion in capital over three years, it includes a requirement for all public stimulus of private sector investment.... It requires large project proponents to include SMEs in their project proposals.
This is part of a multipronged strategy. I can tell you, for example, that there is an EU program under way in Canada that is enabling EU scale-ups to understand how to export to Canada. There are people at the EU delegation who have a responsibility now, a project under way, where they are enabling EU SMEs to meet with large Canadian companies—Maple Leaf Foods is an example—to solve their problems with new innovations coming from the EU. The committee might find it interesting to consider this very systematic approach.
I have, in the past, requested reports from Statistics Canada on exports from Canada by SMEs, and those reports are no longer annual. We don't know the relevance of SMEs to Canada's exports. At one point, it was 25% of the value of all exports—so, equal to that of the mining industry. They're very, very significant to Canada's economy. However, we don't know what it is now because we no longer keep track of it.
View Helena Jaczek Profile
Lib. (ON)
Your recommendation, obviously, would be that we should be keeping track of that kind of information.
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