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Items tagged "fossil fuel financing"

Experts to MPs: Canada must stop funding fossils

“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.

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.