Society

Businesses are known to largely contribute to climate change. Companies, especially large industrial corporations, overwhelmingly emit greenhouse gases. Smaller businesses, too, often have a larger carbon footprint than individual consumers. The Government of Canada is aware of the climate crisis and is working to lower the country’s emissions. Canada passed the Net-Zero Emissions Accountability Act in 2021, which promises that Canada will either emit zero greenhouse gases or offset its emissions by 2050. The government also introduced the Net-Zero Challenge, which aims to encourage businesses to develop their own plans to reach net-zero emissions to comply with upcoming regulations. Every Canadian company has a part to play in reducing their carbon footprint. Some companies, however, have ambitions to actively reverse and mitigate climate damage. Read ahead to learn more about the companies on the frontlines of the climate crisis and the technologies they’re using to fight climate change. Is carbon capture the answer? Carbon capture and storage (CCS) is the process of recovering carbon dioxide (CO2) from fossil-fuel emissions and storing it permanently underground. It has been promoted as an effective method to support efforts to reach net-zero, as CO2 is stored in the ground rather than the atmosphere. However, research has criticized this strategy. A 2022 report by the UK Institute for Energy Economics and Financial Analysis studied 13 CCS projects and found that only three performed as they were meant to. Another report drew a similar conclusion closer to home. The Quest plant, a CCS facility operated by Shell in Alberta, had previously been promoted as a strong example of how CCS significantly reduces carbon footprints. However, a report by Global Witness found that the facility only sequesters 48 per cent of the CO2 it emits, which is 90 per cent lower than the industry’s capture rate standard for CCS projects. Despite implementing CCS processes, the Global Witness report concluded that the Quest plant and similar CCS projects were significant greenhouse gas emitters. The report also claimed that the fossil fuel industry must be phased out to meet net-zero. Shell, however, has rejected these claims, calling them patently false. Regenerative agriculture Despite the criticism, CCS shouldn’t be thrown out altogether. One example of a net-win Canadian CCS project is regenerative agriculture, a type of farming focused on improving the environment’s health. This form of agriculture uses several techniques, such as covering the soil with plants that passively isolate carbon from the atmosphere. These cover crops can be sold, allowing farmers to make money by sequestering carbon. Some sources say regenerative agriculture could become an important tool to mitigate climate change. Régénération Canada offers a free map of Canadian farms using regenerative agriculture so consumers can buy from offering these practices. Biochar Another company using CCS to fight climate change is the Canadian startup venture Airex Energy, which has committed to building the country’s first industrial biochar plant alongside lumber company Groupe Rémabec and waste disposal company SUEZ. Biochar is a material created from a process known as pyrolysis, which converts raw material such as wood chips into charred material similar to charcoal. Biochar has various applications, including water treatment, laying asphalt and agriculture as a soil amendment. Biochar’s properties allow it to passively act as a CCS material and isolate carbon from the atmosphere. It may become a viable CCS method because it is produced from lumber waste products and offers a high CO2 absorption capacity. Nuclear fusion Beyond CCS, nuclear fusion is an in-progress solution that could lead to sustainable power generation in the future. Nuclear fission is our current method of nuclear power, which consists of splitting an atom apart. Nuclear fusion, however, occurs when atomic nuclei are combined to form a single heavier one. Canadian companies, including industry leader General Fusion, are on the cutting edge of this potential. General Fusion is a Vancouver-based company focused on developing a fusion power device based on magnetized target fusion. One of the benefits of nuclear fusion is that it wouldn’t create any dangerous nuclear waste. On top of that, a chain-reaction meltdown would be virtually impossible because of the conditions required to start and maintain a fusion reaction. On the other hand, nuclear fusion has produced over 250,000 tonnes of nuclear waste to date. Additionally,  waste disposal is an ongoing challenge because nuclear waste can take centuries to inactivate. Although fusion is still decades away from being a viable energy source, scientists are excited about having access to safe, clean, renewable energy in the future. A combination of solutions Net-zero can’t be achieved overnight or with one single solution. Despite the growth of green technologies, carbon emissions continue to increase. The Intergovernmental Panel on Climate Change warned that there is more than a 50 per cent chance that global temperatures will exceed 1.5 degrees Celsius in warming. Fortunately, according to the United Nations, net-zero is realistic and achievable because affordable technology that can help us reach net-zero already exists. Investing in clean, renewable energy sources and environmentally friendly companies can also support Canada’s efforts to reach net-zero. Even though overcoming the climate disaster can seem impossible, governments and experts remain optimistic that the problem can be solved, especially if we all work together.

Over the last couple of years, the e-commerce landscape has changed extraordinarily. The COVID-19 pandemic amplified e-commerce sales as consumers were forced to shop online due to lockdown restrictions. However, this rapid growth came to a halt after in-person shopping resumed. This resulted in multiple e-commerce companies laying off employees, including Amazon, which cut 27,000 jobs across 2022 and 2023, and Shopify, which laid off 10 per cent of its workforce in 2022. The pandemic-era e-commerce boom may have ended, but the industry still shows promising growth and resilience. Read ahead to learn about the past, present and future of the e-commerce landscape, including why many consumers are still gravitating toward e-commerce channels in a post-pandemic world. The COVID boom When the COVID-19 pandemic struck, most people were stuck inside due to local health restrictions that encouraged non-essential workers to stay home and avoid unnecessary travel. Despite in-person shopping stopping abruptly, consumer demand remained strong. The closure of brick-and-mortar retail outlets caused a massive surge in online shopping. In 2020, e-commerce sales in Canada grew more than 70 per cent. A year later, when public health guidelines loosened to encourage in-person activities, e-commerce sales only increased 14 per cent. Although the industry continues to grow, it is increasing at a more modest rate now. Alex Nguyen, a Toronto-based dropshipping business owner, recalls the pandemic-era boom. He said that despite the negatives of the pandemic,  he had never made more sales. He noted that most of his sales were driven organically and, for the most part, passively. However, his sales boom was short-lived because his business ebbs and flows depending on consumer demands. Though dropshipping is a niche segment of the e-commerce industry, a similar increase in sales occurred across many other sectors, including electronics, books and gardening supplies. Mobile commerce Mobile commerce, or m-commerce, is a facet of e-commerce for mobile devices. In the first quarter of 2023, mobile devices generated 58 per cent of internet traffic. In Canada alone, there are almost 34 million smartphone users.  M-commerce is a new concept that has plenty of room to grow. According to Shopify, m-commerce will account for $620.97 billion of e-commerce sales in 2024, meaning consumers will make almost half of all e-commerce purchases on a mobile device.  M-commerce has various advantages, including enhanced user experience, easier store access for consumers and better cost-effectiveness for marketing strategies. Nguyen explained that he regularly uses m-commerce, as many of his customers come from mobile shopping apps such as Amazon or Wish. Artificial intelligence and augmented reality Artificial intelligence (AI) has disrupted and transformed many industries around the globe, including e-commerce. Although these technologies are still new, they are expected to impact the e-commerce market significantly. According to an article by Tech Radar, when AI tools are integrated with e-commerce platforms, they can answer customer service requests, generate product images, optimize product listings and detect and prevent fraud.  Augmented reality (AR) shopping allows customers to interact with products in physical space via a smartphone, VR headset or AR glasses. Though this seems like science fiction, augmented reality has existed for several years and was popularized by the mobile game Pokémon GO. One of the possible disadvantages of e-commerce is that, according to some research, many consumers prefer in-person shopping. A reason that some consumers prefer in-person shopping is being able to see and touch products. Augmented reality can allow consumers to see products in person in a physical space without leaving their homes. The VR and AR market was worth $28 billion in 2021 and is projected to grow to over $250 billion by 2028. Grow with the times  E-commerce is constantly changing. Instead of viewing this as a frightening prospect, Nguyen suggests adapting to the times to try to leverage all the benefits. He tries to keep on top of all the trends so he can apply anything relevant to his business. Consumers regularly shop on e-commerce platforms, and the habit is only expected to grow. PwC’s 2023 Global Insights Pulse Survey found that 62 per cent of global consumers use a mobile device to purchase goods at least once per month. Consumers prefer online shopping over brick-and-mortar retail because of the convenience, product availability, lower prices and the option to compare prices across retailers. The preference for online shopping is strong globally and is projected to grow consistently. The pandemic may have boosted e-commerce sales, but the fact that they’ve continued to grow in a post-pandemic retail landscape demonstrates that e-commerce is here to stay. Monitor trends and changes in the e-commerce industry because, as the pandemic taught us, you never know when everything will change overnight.  

Some downtowns in Canadian cities feel emptier than ever. The so-called “retail apocalypse,” a term coined in 2017, has been an ongoing problem for several years. However, the COVID-19 pandemic dramatically accelerated the shuttering of retail spaces.  Some brick-and-mortar spaces survived by rapidly adapting to a new retail landscape, such as restaurants converting into grocery stores and bars to bottle shops. Other retailers had to rely on emergency government loans,  which must be repaid shortly. Many businesses, however, could not adapt to the new landscape and were forced to close permanently. In some Canadian communities, this has led to a large presence of shuttered retail stores in downtown areas, making some shopping areas feel dreary.  This has become a significant problem in some communities, transforming neighbourhoods into neglected areas by destroying their cultural character while leaving residents with fewer amenities. Read ahead to learn about the scope of the problem and some solutions that can help put life, character and charm back into Canadian communities. Rising costs In Thunder Bay, Ont., six more businesses have closed than opened every month since July 2022. One major factor leading to these closures is inflation.   The problem is far from localized. Statistics Canada’s most recent monthly estimate of business openings and closures noted that retail trade was the second largest contributor to nationwide business closures, as businesses decreased for six straight months. The report also lists high accommodation and food services industry exit rates. Between retail trade, accommodation and food service establishments, there was a shrinkage of 1,106 active businesses in November 2022. Reluctant landlords Rising rents are also a main driver of retail and restaurant closures. One such instance is Lambretta Pizza, a popular restaurant in Toronto. Lambretta had to close its Roncesvalles location in late 2022 due to a 30 per cent rent increase. The owner, Celina Blanchard, said she already paid $12,000, so the rent increase was too much to afford. Blanchard noted that there were usable empty spaces for rent in the same neighbourhood, but the rents were similarly unaffordable. These storefronts are expected to sit empty until large companies with strong finances rent the spaces… When this happens, iconic stores like Lambretta disappear, leading to an emptier, indistinct cultural identity in Canadian neighbourhoods. Blanchard is not the only one who has noticed this trend. A report by the Better Way Alliance, a self-described ethical employer network, found that over three-quarters of commercial tenants have experienced a one-time rent increase of 10 per cent. The report also found that one in six commercial tenants experienced a 50 per cent increase in rent, and more than half anticipate being forced out of their tenancy due to rent increases. Landlords themselves have also seen costs increase. In 2023, Toronto’s property tax increased by 5.5 per cent, while in Vancouver, it jumped a staggering 10.7 per cent. Additionally, landlords may have an increased cost associated with maintenance. That said, these cost increases, while significant, are generally much lower than rent increases. A solution where everyone wins Landlords own properties to make money, and few businesses would fault them for generating profit from their investments. If a landlord did not earn a profit, there would be no incentive to rent the property they own. They are running a business, after all. That said, leaving vacant commercial space may not be in the best interest of a landlord’s profits. Of course, finances vary from investment to investment, but if a landlord pays into a commercial mortgage without earning rent off it, that is a significant amount of money lost for them. Instead, a more gradual and accessible rent increase is better for commercial landlords and tenants. Many landlords practice this successfully, cultivating strong business relationships while earning an income. It may be in the best long-term interest, both in terms of ethics and profits, for landlords to work collaboratively with the businesses that lease their properties. Working together so commercial tenants and landlords both earn a living is possible and well within reach. With this collaboration, everyone can profit. Neighbourhoods can be revitalized, making them safer and better for consumers, and landlords can profit off their investment while retaining tenants who bring life to downtown spaces. That way, we can revive and maintain the cultural identity of Canadian cities instead of having empty, shuttered storefronts plaguing our neighbourhoods.

With rapid consumerism deeply immersing the 21st century, consumers can easily dismiss their moral compass as they shop. This is an indication of consumer culture, which describes a lifestyle whereby people view buying and selling goods as an important determiner of social organization, significance and meaning. This viewpoint plays a significant part in people’s outlook on themselves and society. The result is a hyper-focus on obtaining material goods. Business owners may also ignore moral obligations in favour of profits as they run their businesses. As intimidating as it can be to change a business model, it is rewarding and beneficial for a company to give back to the community. An effective way to give back is through partnering with a local non-profit. Here is a guide for businesses looking to partner with non-profit organizations. Select a non-profit that aligns with your company’s vision A company vision is what your business hopes to achieve in the future. It is a long-term business objective, and partnering with a non-profit with similar goals can bring even small businesses closer to their visions. One example is a Toronto cookware company called Kookn which partnered with the Parkdale Community Food Bank. Together they combat the barriers that cause food insecurity. After forming your company vision, ask yourself which non-profit addresses the same issue as your business and where you want to cause an impact. This is important because some non-profits are specifically local while others are more wide-scale. Understand the different types of partnerships Understanding the different types of corporate-non-profit partnerships is essential because some require more time and effort than others. A corporate sponsorship requires less effort because it only consists of businesses donating to a non-profit to support one of their events, like a fundraiser. Following their donation, the company name and logo will appear on event shirts, banners and more. Conversely, an in-kind donation is more hands-on because it involves donating an existing office space or supplies to a non-profit. Therefore, businesses going this route must have extra space or supplies to give. Lastly, a cause-marketing partnership involves a business donating a portion of its revenue to the non-profit with every sale. Businesses using this method benefit from a good public image. Get the attention of the chosen non-profit Getting in touch with a business’ chosen non-profit goes beyond contacting them through their social media accounts. Since most non-profits are locally based, seeking out non-profits in person rather than online may prompt a quicker response. Contact the non-profit founders and leaders, attend one of their meetings or volunteer at one of their events. Even if a business has few employees, ask if they would like to contribute to a donation made in the company name so that the non-profit will notice. Discuss the expectations of both parties Communication regarding boundaries and goals is key when businesses and non-profits form partnerships. It is a chance for both parties to learn more about each other, avoid future obstacles, and learn the best ways to support one another. The elements of discussion will depend on which partnership you both choose. Some examples include how much revenue the business will donate with each product sale, the requirements of fundraisers and events and who will be the primary communicators for the business and non-profit. This is when companies should clarify what is negotiable and non-negotiable. Communicating these key elements will ensure the partnership is sustainable, long-term and mutually beneficial.

Canada accepts hundreds of thousands of newcomers every year. 2022 was a record-breaking year, with Canada welcoming 437,180 immigrants. Newcomers often have big aspirations when they migrate to Canada. This is why many pursue post-secondary education or start their own businesses. Despite research and statistics proving their benefits to the Canadian economy, there are still xenophobic misconceptions and stereotypes towards newcomers. For instance, some believe that immigrants increase crime and exacerbate job shortages. Although these perceptions are incorrect, the harmfulness fuels obstacles newcomers face when trying to find a job in Canada. For example, immigrants usually have to take lower-paying jobs once they reach Canada because the training and education they received in their country of origin are not transmissible to Canadian qualifications. Other obstacles include language barriers and a lack of knowledge of Canada’s legal system and business procedures. Additionally, newcomers don’t have access to personal connections and communities in Canada. An often-overlooked fact is that these obstacles further push newcomers to be self-employed or establish their own businesses. These self-employment ventures and businesses significantly contribute to the Canadian economy. Canada is very particular about which newcomers are accepted. Often, the most welcomed immigrants are those aged 25-54 and placed under the economic category. Immigrants are placed under the economic category when their skills meet what is required in the labour market. Immigrants can also be placed under the economic category if they have a business plan. In 2021, 56.3 per cent of immigrants welcomed to Canada were classified under the economic category. This disproves the misconception that immigrants are unqualified or not ready to work. Immigrants also own more businesses and have higher self-employment rates than Canadian-born citizens. Statistics Canada reported that 11.9 per cent of immigrants are self-employed or own a business. In comparison, 10.1 per cent of Canadian-born individuals with immigrant parents have a business or are self-employed. This makes sense, given the barriers noted previously that immigrants face when getting a job. In addition, immigrants represent 33 per cent of all business owners with paid staff. Over 260,000 immigrants that own a business have paid employees. Businesses boost the Canadian economy by providing jobs, producing tax revenue, increasing GDP and putting money back into the community. However, one of the main reasons why immigrant businesses differ from Canadian-born businesses is that they boost international trade. According to a study by Statistics Canada in 2019, immigrant-owned firms tend to trade materials from the owner’s region of origin. This is particularly common in the manufacturing business. Immigrant-owned firms in the manufacturing industry import and export from outside countries at a higher rate than Canadian-owned businesses. This is because immigrants are more knowledgeable about the trade system in their mother countries. They also have more social networks with individuals that live in their country of origin. Using their connections decreases transaction costs while maintaining the demand for goods from their region of origin. Additionally, international trade is more comfortable for immigrants that own firms. This is because they understand their country of origin’s language, business culture and preferences. The result is not only economic benefits for Canada but also for the global economy. Canadians must reject the negative misconceptions surrounding newcomers. The number of immigrant businesses and how they function showcase their economic value in Canada. They deserve to be supported, accepted and acknowledged for their contributions. Not only do newcomers and immigrant-owned businesses benefit the Canadian economy, but they add to the diversity and vibrancy of Canada. Given that one in four Canadians are or were once immigrants, Canada would not be Canada without them.

Canada has seen many changes in the profitability of its industries, especially at the height of the COVID-19 pandemic. Many industries have begun to decline, while others have managed to flourish. Aspiring business owners may wonder which industries are currently viable to tap into. Continue reading to learn about some of Canada’s growing and declining industries. Growing Hotels The hotel industry was hit hard during the COVID-19 pandemic as international travel was halted. However, since travel restrictions have loosened, the industry has slowly regrown. One report by Commercial Real Estate Services Canada found that in June and July 2022, the hotel industry saw Revenue Per Available Room (RevPAR) exceed 2019 levels, indicating that the industry is beginning to return to its pre-pandemic state.   This growth can be attributed to loosening travel restrictions, particularly among domestic and U.S. travellers. Additionally, event scheduling has returned across the country, encouraging increased travel and the need for hotels.  E-commerce This industry has been greatly aided by increasing internet traffic over the past few years, especially since online shopping has become more popular. According to an article by Canada Post, nine out of 10 e-commerce businesses experienced an increase in sales from 2021 to 2022, with more than 35 per cent saying their sales grew by 20 per cent or more. A market forecast predicts that the e-commerce market will see an 11.03 per cent increase in revenue by the end of 2023. Cinema Canadian movie theatres’ performance largely depends on the reception of major film releases, so this industry tends to be uncertain. In addition, much of the industry’s revenue is driven by Cineplex, which accounts for more than 60 per cent of the market.  However, this industry is still profitable. Statistics Canada reported that Canadian film productions saw a 20.2 per cent revenue increase from 2019 to 2021. This number continued to increase as restrictions were loosened further, and this growth may be attributed to a buildup of projects delayed during the pandemic. Full-service restaurants The restaurant industry has seen a significant revival after the pandemic. A report published by Circana found that restaurant visits increased by 11 per cent in the first quarter of 2023. Additionally, despite increased prices, spending increased by 18 per cent.  This increase can be largely attributed to the gradual change in people’s behaviour outside the home, such as the return to in-person work, as morning meal demand increased by 13 per cent in 2023. Declining Newspaper publishing The newspaper industry continues to face serious competition from digital media. A 2023 report found that revenue in this industry decreased by 9.5 per cent from 2018 to 2023. Printed newspaper sales have declined as online outlets offer the same material more conveniently and at a lower cost. The pandemic was believed to be a huge factor in this decline as consumers were stuck at home and primarily engaged with online news stories. Canned fruit and vegetable processing With increasing health concerns, this industry has seen a recent decline. Many consumers are turning to fresh produce goods, so demand for canned goods has decreased steadily. According to a recent report, the revenue in this industry is expected to drop by 1.2 per cent by the end of 2023. Bookstores Similarly to the newspaper industry, bookstores have seen serious competition from online retailers and e-books. A report says that although bookstore revenue increased between 2013 and 2018, the industry experienced a 7.4 percent annual market size drop from 2018 to 2023. Online retailers can offer products at more competitive prices, slowly driving the profitability of bookstores downward. Paper mills The demand for paper products has decreased in recent years, and the industry is expected to decline. A 2023 report found that the industry’s revenue is expected to decrease by 6.4 per cent from 2018 to 2023, with a predicted 2.3 per cent revenue drop in 2023 alone. As discussed earlier, there is a decreasing demand for newspapers in favour of digital media. However, this lowered demand expands past newspapers to include other paper-based products, such as office supplies.  Keep in mind that industry performances constantly fluctuate and may change without warning. Just because an industry is in decline now doesn’t mean it will always be that way, and the same applies to growing industries. Continue to research industry trends to remain updated on the latest industry changes.