Canada’s investment in clean energy technology and infrastructure soared by 19% in 2024, reaching $35 billion (USD), according to BloombergNEF’s Energy Transition Investment Trends 2025 report. This surge propelled Canada into the top 10 global investors in clean electricity and electrification for the first time, ranking 8th overall.
The milestone comes amid record-breaking global investment in the energy transition, which surpassed $2 trillion for the first time—an increase of 10.7% over the previous year. While the global growth rate slowed slightly compared to previous years, the scale of investment remains unprecedented.
Merran Smith, president of New Economy Canada, emphasized the importance of maintaining momentum.
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“This is a good reminder to Canadians to look at the bigger, global picture when thinking about our economic prospects and future,” Smith said. “There is a global race underway to attract investments that unleash the power of clean energy and technology to create jobs, spur local spending, and keep our mining, construction, transportation, and other sectors competitive in a fast-moving world. And we can’t afford to fall behind.”
Smith noted that while cracking the top 10 is a significant achievement, Canada is still in “catch-up mode” after years of lagging investments. She called for continued policy and regulatory stability to sustain the country’s progress.
The BloombergNEF report defines clean energy investments broadly, covering renewable energy, power grids, electrified transportation, clean industry, hydrogen, nuclear, energy storage, and carbon capture technologies. With the global energy transition accelerating, Canada’s rising commitment signals a growing recognition of the economic and environmental opportunities in the sector.