People who use bicycles bring business to cycle and repair shops, manufacturers of clothing and bicycles, second-hand sports shops, bicycle education programs, cycling organizations and cycling tourism organizations. Approximately 1.2 million packages are delivered yearly in Toronto by bicycle couriers. Fortune magazine has ranked Toronto as one of the world's best cities in which to live and do business. The International Council for Local Environmental Initiatives has declared Toronto a world leader in combating global warming at the local level. Transportation accounts for one-quarter of greenhouse gas emissions globally, so a shift to more sustainable means of transportation, such as cycling and walking, is an important part of keeping cities healthy.
Healthy cities mean new business, the creation of new jobs and economic prosperity.
Since 1994, the Toronto Cycling Committee has hosted the Bicycle Friendly Business Awards. The awards recognize the efforts of businesses, agencies and other organizations to improve conditions for cyclists.