Canada has an Investment Problem...or is it a Project Problem?
1 hr 3 min
What makes a major infrastructure project investable? The recent investment summit in Toronto raised an interesting question: Is having a pipeline of ambitious projects enough to attract private capital? To tackle this, Riccardo, Melissa, David, and Evgenia reunite in the 11th installment of Uncharted Conversations. Together, the industry experts examine Canada's infrastructure investment ambitions and the challenges of turning promising projects into bankable opportunities. The group explores what investors actually need to see before committing capital, from predictable revenues and clear approval pathways to manageable risks and reliable project timelines. The conversation unpacks the tedious distinction between funding and investment, and the responsibilities of governments, project owners, and private investors in making infrastructure financially viable. While Canada has considerable institutional capital available, including its major pension funds, that money often makes it way to foreign rather than Canadian projects. The group considers whether the missing ingredient is better risk allocation, stronger public-sector commercial capabilities, or a willingness to relinquish some control in exchange for private investment. They also question whether every public infrastructure asset should be treated as an investment opportunity in the first place. From there, the discussion turns to a more ambitious idea: rethinking how infrastructure projects are packaged and delivered. Could governments coordinate entire programmes, combine enabling infrastructure, and manage shared risks in ways that attract new investment? A debate surfaces around the opportunities and challenges of this approach. Through devil’s advocate provocations and distinct perspectives, this episode challenges conventional thinking about infrastructure financing. It asks whether the path to greater investment might involve more than attracting money; it may call for fundamentally rethinking how pr...