public financing of fossil fuels

MEDIA CONTACT

Karen Hamilton, director
khamilton@aboveground.ngo
1 (438) 992-5163

public financing of fossil fuels

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

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.

Canada delivers on climate promise, takes significant step towards ending public fossil finance

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.

Submission to Parliament: Ending Canada’s Public Finance for 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.

Ottawa must end all financing for fossil fuels, ‘abated’ or not

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.