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.
Above Ground has written to Export Development Canada and International Trade Minister Mary Ng with questions regarding Canada's implementation of the Glasgow Statement on ending public finance 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.
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.
In this op-ed in The Hill Times, we argue that Ottawa must initiate a swift and complete phase-out of all public financial support for fossil fuel development of any kind - with no allowances for technologies, such as carbon capture, that prolong our dependence on fossil fuels at a time when we must be rapidly winding down their use.
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