Canadian business leaders are calling for a green recovery plan following the COVID-19 crisis, according to a press release from Corporate Knights Inc. publisher of a business magazine on sustainable business. 

"Now is the time to be courageous and bold," says a letter by the business leaders. 

It was signed by 47 leaders, with more than 200,000 people employed by their companies and combined annual revenues of $140 billion. They call for investments in sustainably produced food, zero emission vehicles and zero-carbon energy.

"These leaders know our future as a nation, and whether we will be leaders or followers in the world economy, depends on the decisions we make today and they know those decisions need to be bold and green," Toby Heaps, CEO of Corporate Knights, said in the press release. 

The leaders want a bolder rather than a mild recovery plan from the coronavirus pandemic. 

"It will require a significant burst of investment in the first couple of years buttressed with complimentary policies over the next five," the letter said. "Some will raise concerns about the costs, but if we learned anything from the last economic crisis, it's that austerity is not a growth strategy, rather it leads to lost opportunities for people and businesses alike."  

A green recovery will also help provide more equality in Canada's society and economy by giving roles to indigenous communities and people of color, according to the press release.

"We encourage governments to lead a collaborative and bold economic recovery building on the strengths of our existing economy and talent to capture the growth markets of the future," the letter says. "As corporate leaders, we are committed to doing our part to build back better towards a more resilient – and inclusive – economy."