Clean Technology News

Why is an accounting firm interested in cleantech?
Published on: August 17, 2023

A founding member of OCTIA, MNP is a full-service accounting firm with more than 100 offices across Canada. But why is an accounting firm interested in cleantech? We asked Alex Smyth, CPA, CA, a Partner and Business Advisor at MNP, to tell us more about the firm’s decision to support and participate in the growth of Ontario’s cleantech sector.

Describe your core offering(s). How is your organization contributing to a cleaner, greener future?
MNP is an accounting, business consulting and tax firm, providing everything from compilations, reviews, audits, and tax compliance to bookkeeping, SRED, valuations, and IT systems implementation. We offer several services to organizations in the cleantech space – specifically related to assisting with their environmental, social and governance (ESG) planning and reporting.
We are committed to the early-stage technology space and see a bright future in cleantech, which led us to become a founding member of OCTIA. We see cleantech as a place where we can grow our business while at the same time having a positive impact on the future – we offer competitive rates to early-stage companies with a view of growing together. In the past, we have provided pro bono services to OCTIA to assist in its lobbying efforts and we are exploring opportunities to provide an educational session(s) on various emerging tax credits for companies in the space.
Other than coffee, what gets you out of bed in the morning? How does this work connect with your core beliefs and values?

I love hearing about new companies developing new technologies to help solve the growing climate crisis. I find it fascinating, and it also give me hope that we can find ways to fix the problem. It’s inspiring to meet people who are driven by a genuine desire to do good for the world.
Tell us about a recent win (or wins) or your organization.

MNP is the pre-eminent mid-market firm in Canada and we continue to grow. There are lots of new client wins, but I think a lot of our most important wins involve the different events MNPers participate in to support their communities. These events are happening across Canada, but to mention a few recent ones from my office, we were able to raise some significant funds and had strong team participation for the Mooreland Kids Send a Kid to Camp drive and Baycrest’s Bike for Brain Health. We have Road Hockey to Conquer Cancer coming up along with an annual fundraising drive for the United Way. Giving back is one of our core beliefs and something that makes me proud to work here.
What’s next for your organization?
We plan on remaining committed to the early-stage technology space and growing the number of cleantech companies we are working with. We plan continue to support OCTIA and similar efforts to promote environmental awareness.
Finally, what’s on your team’s wish list for Ontario’s cleantech sector?

We’d like to see policies that make it easier for new entrants to get off the ground such as enhanced tax credits, more climate specific accelerators and also faster deployment of some of the funds that have been set aside to support the space.

Get to know #ONcleantech! Each month, OCTIA will profile a different member company or organization. Want more Ontario clean technology content? Subscribe to our newsletter.