A multitude of wealthy investors have gathered in Toronto for the pioneering Canada Investment Summit. The summit kicked off with a reception on Sunday, aiming to unite global investors with Canadian business leaders to facilitate $1 trillion in investments across the country within the next five years.
With a background as a former central banker and the head of Brookfield Asset Management, Prime Minister Mark Carney is well-versed in dealing with prominent investors. The ongoing Canada-U.S. trade conflict has intensified the urgency to establish new partnerships and demonstrate Canada’s attractiveness for investment.
Who is attending the summit and what actions does Canada need to take to secure funding for major projects? Here are the key details.
Attendees:
Reports from CBC News indicated that Carney extended invitations to 100 of the world’s most influential investors for the summit. While the final guest list remains undisclosed by the government, notable figures such as Larry Fink, chair of BlackRock Inc., and Dilhan Pillay, CEO of Temasek Holdings from Singapore, are among the attendees. Additionally, managers from significant sovereign wealth funds like Norway’s government pension fund and state-owned entities such as Abu Dhabi National Oil Company will be present.
Jeremy Kronick, the president and CEO of the C.D. Howe Institute, shared that the event will host a prestigious lineup of financial institutions and money managers, both from Canada and abroad.
Prime Minister Mark Carney is inviting 100 of the world’s biggest investors to a summit in Toronto in September, where he will pitch Canada as a reliable place for investment.
The guest list for the opening reception also included top executives from various Canadian companies, alongside American industry leaders such as Air Canada, Cohere AI, Enbridge, and Alto, the company behind a proposed high-speed rail link connecting Toronto and Quebec City. Numerous Canadian politicians, including several premiers, were also in attendance.
Highlighted Projects:
A prospectus obtained by CBC News outlines 167 projects available for investment, ranging from a proposed oil pipeline from Alberta to British Columbia’s coast to the development of satellite technology for Earth observation. These projects are categorized into eight sectors, including conventional energy, clean energy, mining, marine infrastructure, power, digital technology, advanced manufacturing, and transportation.
A significant portion of the projects focuses on energy and mining, reflecting the government’s strategic priorities. Notable ventures on the list include the $35 billion B.C. pipeline, a $79 billion expansion of the Port of Churchill in Manitoba, and the proposed $28.5 billion Ksi Lisims liquid natural gas terminal on the B.C. coast.