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Canada’s tech and innovation sector had a good 2020 in the markets—and cleantech led the charge

A man watches the financial numbers at the TMX Group in Toronto's financial district on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese
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VANCOUVER — When the COVID-19 pandemic started to sow economic uncertainty in early 2020, stock markets around the world plummeted in a short-lived fall. Technology shares, overall, helped fuel the recovery with the companies’ products and services in demand in the new world of social distancing.

On the TSX, companies in the technology and innovation sector performed strongly as a group, but those in the cleantech category led the charge. Shares of listed companies in the space, on average, roughly doubled their worth. 

Here’s a look at how the three sectors—cleantech, life sciences and technology—performed in what was a record-breaking 2020 for technology stocks, and what experts think the next 12 months will hold.

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