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Canada plans to help Quebec SMEs through ESG roadmap

GATINEAU — To assist SMEs in the transition towards more sustainable business models, the Government of Canada created an ESG action plan and roadmap to foster the emergence of a greener economy in the regions of Quebec.

CED will boost its support for the green transition of SMEs and their ecosystems by;

• doubling its annual funding target for projects that contribute to the environmental transition of SMEs and the regions, to $50 million within three years;
• placing more importance on ESG criteria by adjusting its intervention parameters to increase funding for organizations that incorporate eco responsible practices into their operations, starting with more flexible conditions for SMEs that are taking action; and
• setting up an advisory committee to support the Minister’s reflection on the green transition and the next milestones in the roadmap.

The CED will be working on an environmental grid to be applied to all its programs to help raise awareness among businesses and gain a better understanding of their needs and practices. At the same time, CED will be working with its community partners to ensure that the SMEs have the support ecosystems they need to proceed with their green transition.

“I am proud to announce that CED, for which I am responsible, will be the first regional development agency to provide customized services for businesses to assist them in the adoption of ESG practices,” said Pascale St Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister, CED.

“Our government will help SMEs finance their green projects and seek out the expertise they need to carry them out. This project is key to the competitiveness of our SMEs, since a growing number of their clients are demanding very high environmental standards that, for some small and medium-sized businesses, are proving difficult to achieve. This is where we come in, by meeting the needs of our entrepreneurs in order to build a greener, more inclusive economy and reinvent the economic development model for our regions.”