Canada’s $1-Trillion Investment Ambition Will Require Women’s Full Economic Participation — The Power Shift

Business, investment and public policy leaders call for women’s economic participation to be treated as a core part of Canada’s growth strategy

TORONTO--(BUSINESS WIRE)--A group of 23 prominent Canadian business, investment, entrepreneurship and public policy leaders convened by The Power Shift are calling on Prime Minister Mark Carney to make women’s economic participation a core part of Canada’s investment strategy, just days before global investors gather in Toronto for the first Canada Investment Summit.

In an open letter released today, the leaders argue that realizing Canada’s ambition to catalyze $1 trillion in investment over the next five years will require the country to make full use of its economic capacity, including the talent, capital, entrepreneurship and leadership of women. Women remain significantly underrepresented in many of the industries, businesses and institutions that will determine how that capital is deployed and where economic growth occurs.

The letter urges the federal government to make women’s economic participation a core part of Canada’s investment agenda as the country prepares to make major investments in infrastructure, technology, defence, natural resources and other strategic sectors.

Its central argument is economic: Canada is simultaneously trying to build at greater scale, compete globally and attract unprecedented levels of investment. Doing that successfully will require more capital, more entrepreneurs, more skilled workers and people capable of building and leading Canadian companies. Women represent a significant source of each.

By 2030, women are projected to control close to half of Canada’s financial wealth. Yet women remain significantly underrepresented among those allocating institutional and venture capital and own fewer than one in five Canadian small and mid-sized businesses.

The letter argues that these gaps have consequences far beyond representation.

”Canada is being asked to build more, move faster and compete in increasingly volatile conditions while facing persistent labour and skills shortages. Maximizing the return on these investments requires us to draw on the full range of talent, expertise, entrepreneurship and leadership available to us.”

The signatories bring decades of experience building companies, deploying capital, leading institutions, creating jobs and shaping public policy across Canada. They are calling on the federal government to use the next year to establish and begin implementing a clear economic agenda for increasing women’s participation and leadership in the sectors receiving Canada’s largest public and private investments, with measurable objectives and public reporting on progress.

Their message to the Prime Minister is that women’s participation should not sit on the margins of Canada’s economic strategy. Making full use of women’s economic capacity will strengthen Canada’s ability to deliver on its investment ambitions.

QUOTE:

“A Canada Strong economy cannot be built by leaving capacity - talent, expertise, capital - on the sidelines. Women are entrepreneurs, executives, investors. Their participation is essential to drive growth, productivity and competitiveness.”

-Ilse Treurnicht

Managing Partner, TwinRiver Capital; Interim Co-Chair, Equality Fund

About The Power Shift

The Power Shift is a national initiative focused on strengthening Canada’s economic capacity by increasing women’s participation and leadership in the sectors, institutions and decisions shaping the country’s future. Through research, convening and collaboration across business, government and civil society, The Power Shift works to identify and advance practical solutions that mobilize Canada’s full leadership capacity.