Despite the climate crisis, Canada still has no plan to limit the amount of support its export bank, Export Development Canada (EDC), provides to fossil fuel companies, which has averaged more than $13 billion per year since the Paris Agreement was signed. As a result, Canada ranks second-highest among G20 countries in total public financing for fossil fuels – after China – and highest on a per-capita basis.
With Export Development Canada (EDC) set to announce its new climate targets any day, Above Ground and over one hundred civil society organizations have signed onto a statement calling on Ottawa to follow the example set by the United Kingdom and immediately order EDC to align its business with Canada’s climate obligations.
- Read the statement
- Read the letter we sent to the trade minister in December 2020 along with over 50 civil society organizations, in which we urged Ottawa to immediately end EDC’s support for fossil fuels
Find out more about EDC’s support to fossil fuel producers in our fact sheet: