(Globe & Mail, Toronto, 2 May 2022) Export Development Canada has agreed to partly guarantee $1-billion of loans which the Bank of Montreal plans to make to companies in carbon-intensive industries in order to help them lower their emissions, reducing the risks of the bank’s foray into...
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(National Observer, Vancouver, 6 April 2022) Canada’s recently published emissions reduction plan provides a roadmap for how Ottawa plans to hit its 2030 climate targets, but critics say until the financial sector is aligned with climate goals, the government's plans are “derelict.”...
more(Globe & Mail, Toronto, 28 March 2022) Canada’s export credit agency is looking to capitalize on the growing trend for sustainable investing, launching a set of new financial tools aimed at supporting socially oriented businesses and helping large greenhouse gas emitters reduce their carbon...
more(CBC, Winnipeg, 9 March 2022) In December 2020 Export Development Canada — a federal Crown credit corporation — signed a guarantee to back half of a $14-million loan to Winnipeg's 97% Russian owned Buhler Industries to support the company's ongoing operations. The manufacturer of farming...
more(Berne Union, London, 17 March 2022) The group leverages the Berne Union network to connect innovation in export credit with global problem-solving around climate challenges and sustainable development. The ultimate objective of the Climate Working Group is to accelerate climate action in the...
more(Global Trade Review, London, 9 March 2022) Export credit agencies and trade credit insurers have hurriedly axed coverage for Russia and Belarus as the deepening conflict and...
more(Perspectives Climate Group, Freiburg, 15 February 2022) Perspectives Climate Group has launched a new 41 page report which finds that despite commitments made at and after COP26, Export Development Canada's activities are not aligned with the Paris Agreement's 1.5 degree objective. In total,...
more(New Age Business, Dhaka, 8 February 2022) The governments of Bangladesh and Canada are working on signing a free trade agreement and a foreign investment promotion and protection agreement to increase bilateral trade between the two countries. Masud Rahman, president of the Canada-Bangladesh...
more(Toronto Star, Ottawa, 17 January 2022) By Karen Hamilton, director of ECA Watch member Above Ground, a project of MakeWay Charitable Society that works to ensure companies based in Canada or supported by the Canadian state respect human rights and the environment wherever they operate. Fossil...
more(Peterborough Examiner, 18 October 2021) The federal government has no plans to immediately stop Crown corporations from financing fossil fuel companies, but it’s not ruling out pushing them to reduce those supports more quickly, says Canada’s environment minister. The issue of public financing...
more(Globe Newswire, Ottawa, 22 July 2021) Export Development Canada (EDC) is committing to net zero emissions by 2050 across its business lines and in its own global operations. The Crown corporation’s plan will include interim reduction targets for the most carbon intensive sectors for 2023 and...
more(National Observer, Vancouver, 5 May 2021) EDC's financial support to the oil and gas sector came under scrutiny Tuesday as part of a new legal opinion outlining Canada’s obligations in responding to the climate crisis. The legal opinion from London says governments must take steps to stop...
more(The Narwal, Victoria, 15 April 2021) Despite repeated promises to phase out fossil fuel subsidies, Canada’s federal government dedicated $18 billion in 2020 to assist the country’s oil and gas sector, according to a new report from Environmental Defence that outlines additional support for the...
more(Oil Change International, Washington, 15 April 2011) In response to the launch of a new Export Finance for the Future coalition (E3F), 21 civil society organizations (CSOs) from 14 countries...
more(Above Ground, Ottawa, 13 January 2021) Between 2016 and 2018, Canada provided more public finance for fossil fuels than any G20 country other than China, with Export Development Canada (EDC) providing on average $13.8 billion in support to oil and gas companies each year. Last month more than...
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