Canada Growth Fund

The Canada Growth Fund (CGF) is a $15 billion federal initiative aimed at accelerating the growth of Canada's clean economy by attracting private sector investments into innovative low-carbon projects, technologies, and businesses.
  • Canada Growth Fund
Overview of the Canada Growth Fund program:

The CGF serves as a critical tool to address the significant gap between current investment levels and the $60-$140 billion required annually to meet Canada’s climate targets under the Canadian Net-Zero Emissions Accountability Act (CNZEAA). The fund deploys innovative financing mechanisms to mitigate risks and attract private capital. Key focus areas include: Scaling up clean technology companies and projects. Supporting the development of low-carbon supply chains. Accelerating technologies like carbon capture and low-carbon hydrogen. Strengthening domestic supply chains for critical minerals and sustainable energy solutions. Managed by the Canada Growth Fund Investment Management Inc. (CGFIM), a subsidiary of PSP Investments, the CGF operates independently to maintain efficiency and accountability while working towards national climate and economic goals. Total Capitalization: $15 billion allocated over five years (2024-2028). Investment Instruments: Equity, debt, hybrid instruments, and contracts for difference. Portfolio Expectation: Investments must generate financial returns and attract additional private sector capital.

Benefits of the Canada Growth Fund program:
  • Economic Growth: Boosts clean technology and energy sectors, creating jobs and increasing GDP.
  • Emission Reductions: Catalyzes the deployment of technologies to meet Canada's net-zero targets.
  • Risk Mitigation: Addresses financial and regulatory risks that deter private investment in the clean economy.
  • Global Competitiveness: Positions Canada as a leader in the clean energy sector.
Eligibility criteria of the Canada Growth Fund program:
  • Eligible applicants include:
  • Canadian businesses focused on clean technologies or low-carbon projects.
  • Small and medium enterprises (SMEs) scaling up in the clean energy value chain.
  • Developers of critical mineral supply chains and sustainable infrastructure.
  • Applicants must demonstrate how their projects align with CGFs goals, including decarbonization, job creation, and economic resilience.
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