Above Ground has written to Export Development Canada and International Trade Minister Mary Ng to seek clarification regarding the government’s new guidelines for implementing the Glasgow Statement. The statement, signed by dozens of countries at the 2021 UN climate talks, commits signatories to ending direct financing for the overseas fossil fuel sector.
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.
Canada is the largest public financier of fossil fuels in the G20, funnelling billions of dollars in support every year into an industry that must be wound down to avert severe climate breakdown. In this submission to a parliamentary committee, we call for an immediate, legally binding end to all public financial support for fossil fuels.