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Items tagged "Export Development Canada"

EDC joins net-zero alliance, but has no plan to end fossil finance

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.

Questions remain over Canada’s phase-out of overseas fossil fuel finance

Above Ground has written to Export Development Canada and the trade minister seeking 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.

Export Development Canada must account for its climate impacts

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.

After Hidroituango disaster, EDC talks remedy but fails to provide it

Problems in the construction of a hydroelectric dam financed in part by Canada led to a flooding disaster in northwestern Colombia in 2018, forcing the evacuation of tens of thousands of people. Four years later, locals are still suffering the consequences, with no remedy from Canada in sight.