Schulich Faculty provide Policy Briefs to Global Affairs Canada for G7 Meeting
Global Affairs Canada has released two Policy Briefs prepared by Schulich faculty members – James McKellar, Professor Emeritus and Global Affairs Canada 2024 International Assistance Visiting Scholar and Karen Shlesinger, Program Director, Tim and Frances Price Urban Lab and Sustainable Infrastructure. Both briefs are intended to guide Global Affairs Canada in formulating the agenda for the G7 meeting to be held in Canada in 2025.
“These two policy briefs reflect the dominance of Canada in privately investing in infrastructure across the globe and acknowledges the global leadership of the Schulich School of Business in education and research in sustainable infrastructure,” said McKellar.
Policy Brief 1: Canada’s Comparative Advantages for a Government-Wide International Development Strategy is background to Policy Brief 2: Recommendation for Canada’s International Sustainable Infrastructure Strategy.
According to the Policy Brief 1, Canadian institutional investors are recognized for their global infrastructure investment prowess, supported by a hands-off government approach, direct ownership investment models, and a focus on human capital development. However, challenges exist in attracting private capital to low and middle-income countries (LMICs) due to inadequate risk premiums and poor local enabling environments. Canada’s substantial human capital can help overcome these challenges by enhancing capacity building in LMICs, making infrastructure projects more attractive to investors, and aligning with G7 commitments on sustainable infrastructure.
The second brief suggests that Canada can enhance its international sustainable infrastructure strategy by leveraging its reputation in institutional infrastructure investment. It recommends three initiatives to increase private capital flow to LMICs:
(1) developing human capacity;
(2) adopting a business mindset for projects; and
(3) establishing open dialogue with investors.
It emphasizes the need for capacity building in LMICs to support sustainable infrastructure development.
Both briefs are available through the authors at jmckellar@schulich.yorku.ca or kshles@schulich.yorku.ca.