Panel, Conference Presentation
Mobilizing Capital at Scale: Financing Canada's Next Growth Chapter | Global Dialogues Toronto 2026
- The Prime Minister targets catalyzing $1 trillion in investment over a five-year period, contingent on establishing a complete ecosystem of policy, skilled labor, and regulatory clarity to attract capital allocators.
- Canada faces a projected 100% shortage of investable projects driven by regulatory barriers rather than capital scarcity, with the upcoming Milken Institute event serving as a focal point following the Washington, D.C. session.
- A stark disparity in data center development is anticipated to persist, with the United States maintaining dominance having built over 5,000 facilities compared to Canada's approximately 300, particularly in the hyperscale segment.
- Provinces possessing clean energy resources are expected to impose additional restrictions on electricity usage, potentially hindering the deployment of large-scale projects such as data centers.
- The Future Fund is mandated to prioritize housing supply, energy transition, and critical infrastructure, viewing critical infrastructure as the most accessible investment area while identifying housing as significantly challenging.
- Reversing the decline in energy sector financing from an annual $20 billion to under $1 billion requires establishing regulatory certainty to rebuild a supportive ecosystem of small companies for large infrastructure.
- The Major Projects Office is viewed as insufficient to resolve the systemic lack of thousands of smaller projects, though streamlining approval processes remains necessary for small-cap companies to scale.
- To achieve global competitiveness, Canadian companies must develop the capability to raise funds internationally for investments in the US, Europe, and Asia, moving beyond a primary reliance on the US trading partner.
- A cultural shift involving aggressive tax structures, deregulation, and political risk-taking is considered essential to remove barriers across thousands of projects and reduce the cost of capital.
- Policy focus is expected to shift away from listing specific projects toward defining market structures and asset ownership rules, requiring decades of unified action from banks and capital allocators.
- TD Securities and other stakeholders are committed to an investment renaissance where financial institutions work in unison to support long-duration projects, with EU integration seen as an insufficient substitute for US economic dynamism.
- Success in aligning the Future Fund's inflation-plus mandate with national priorities is expected to rely on maintaining consistent intent and focus across the investment community, policymakers, and financial institutions.