Canada has pledged to double its investment in the clean energy industry by the end of the decade.

Natural Resources Minister Jim Carr said funding for clean technology research and development will increase from $387 million in 2014/15 to $775 million by 2020.

He made the announcement at the seventh Clean Energy Ministerial (CEM7) event – a global forum to promote policies and share best practices to accelerate the transition to green power – in San Francisco yesteday.

Mr Carr said: “Homegrown emission-reducing and clean energy technologies play an increasingly important role in Canada’s economic growth as we support the global transition to a low carbon economy.

“Government and private sector investments in clean energy and technology research and development will help us meet our climate change objectives, increase Canada’s competitiveness and support employment opportunities across the country.”