The Fonds will focus on supporting energy and technology transitions in the coming years
Montréal, March 15, 2019 – “Since the Fonds de solidarité FTQ was created 35 years ago, the world has become a different place. Today, the world is changing at lightening speed. We must all rethink our business models and find ways to innovate. We all have to orchestrate transformations that will pave the way not only to better productivity but also to lasting prosperity and a greener planet.”
This is how Fonds President and CEO Gaétan Morin outlined his organization’s three-year plan to members of the Chamber of Commerce of Metropolitan Montreal. The Fonds’ team of professionals was tasked with answering the question, “How can the Fonds further help Québec, businesses and workers make successful and promising energy and technology transitions for society?”
Helping businesses help other businesses
Initially, the Fonds will invest in businesses that can help other businesses reduce their carbon footprint and adopt new technologies. As an example Gaétan Morin cited Worximity, Mnubo and Kaloom, emerging companies that are driving Québec’s technological growth.
Such companies are also working on energy efficiency, developing cleaner industrial processes and technologies, less energy-hungry equipment and more efficient transportation of goods and people.
Investing $1 billion per year for a more inclusive economy
Over the next three years, the Fonds will invest $1 billion a year to support Québec businesses with their energy and technology transitions as well as in major transformative projects for the Québec economy. This represents a nearly 30% increase over the pace of investments of the past five years (average of $771 million).
“We have to take action now if we want to leave the next generations a prosperous and inclusive society and hopefully a greener planet. As business people, we can have an impact on how things turn out. We can make sure that people are not left behind in the transformations that are coming. This is what the Fonds will be doing over the next few years. The Fonds will also continue the support the growth of Québec businesses.” concluded Mr. Morin.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $14.8 billion in net assets as at November 30, 2018, the Fonds has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers.
- 30 -