“You cannot have public money anywhere near this industry anymore.” This was the message delivered to lawmakers by an expert panel examining how Canada is backing relentless expansion of the oil and gas industry, at an event last month on Parliament Hill.
Export Development Canada has joined other export banks in co-founding the Net-Zero Export Credit Agency Alliance. With this, EDC commits to aligning its business with “pathways to net-zero,” but its steadfast support for fossil fuels calls into question the seriousness of its commitment.
As COP28 gets underway in Dubai, Above Ground joins over one hundred climate justice, human rights and corporate accountability organizations from around the world in issuing an appeal to world leaders for bold climate action centred on corporate justice and prosperity for all.
One week before key OECD talks on aligning export finance with international climate goals, Above Ground and more than 175 civil society organizations from over 45 countries have released a position calling for an end to export finance for oil and gas.
Under Bill C-262, Canadian oil and gas companies could be sued for failing to put in place adequate policies for fighting climate change, writes Shawn Katz, communications officer for Above Ground, in this National Observer op-ed.
Today the Government of Canada released a plan to end new public finance for fossil fuels abroad and instead prioritize clean energy projects. The policy, which comes into effect on January 1, 2023, marks a critical first step towards eliminating Canada’s massive levels of support for oil and gas and aligning federal support with a climate-safe future.
At last year’s UN climate conference in Glasgow, Canada joined dozens of countries in pledging to end its international public finance for fossil fuels by the end of 2022. With mere weeks remaining before the deadline, however, the government has yet to release its plan for implementing the commitment.
With the trade minister currently preparing her annual statement outlining Ottawa’s policy expectations for Export Development Canada, Above Ground has sent her the following letter urging the government to place the highest priority on making this Crown corporation accountable for its global climate impacts.
Climate change is a global human rights emergency of unprecedented proportions—and devastating consequences. Canada’s contribution to this crisis must be addressed. We must immediately end our bankrolling of fossil fuels.