Michael Sabia, CEO of Hydro-Québec, warns that Canada suffers from an 'ambition deficit' and excessive regulations that deter investment. He advocates for regulatory reform, new approaches to partnerships with Indigenous communities, and innovative financing for national projects to transform the country's economy. He spoke at The Globe and Mail's conference.
Canada has ‘ambition deficit’ and regulations that are scaring away investment, Sabia says
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Michael Sabia, CEO of Hydro-Québec, warns that Canada suffers from an 'ambition deficit' and excessive regulations that deter investment. He advocates for regulatory reform, new approaches to partnerships with Indigenous communities, and innovative financing for national projects to transform the country's economy. He spoke at The Globe and Mail's conference.
Trending- 1 Michael Sabia speaks at Globe and Mail conference on Monday
- 2 Sabia highlights Canada's ambition deficit and regulatory issues
- 3 Sabia discusses need for new approach with Indigenous communities
- 4 Sabia addresses financing challenges for national projects
- Discouragement of private capital investment
- Loss of decades due to legal disputes with First Nations
- Economic stagnation if old ways persist
What: Michael Sabia discusses Canada's 'ambition deficit,' burdensome regulations, and lack of trust with Indigenous communities, arguing these issues hinder national projects and economic growth. He proposes solutions including regulatory reform, new partnership models, and bridge capital for early-stage projects.
When: Monday (conference), 'long lacked' (historical context), 'must change fast' (future urgency).
Where: Canada, Quebec (Hydro-Québec, Caisse de dépôt et placement du Québec), Globe and Mail’s conference.
Why: To spur national projects, transform Canada's economy, encourage foreign investment, build trust with Indigenous communities, and address the mismatch between pension fund criteria and early-stage project risks.
How: By shrinking layers of regulation, changing how businesses and governments partner with Indigenous communities (showing up in person), and thinking about a form of bridge capital for early-stage resource and power projects.