EDC targets growing demand for ESG financing

(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 footprint. Export Development Canada has issued green bonds since 2014, using the proceeds to invest in public transportation and renewable energy projects. [We have pointed out in other articles in this month’s What’s New that EDC provided more public finance for fossil fuels than any G20 country other than China, on average $13.8 billion in support to oil and gas companies each year between 2016 and 2018. So they have a long way to go to offset their fossil fuel vs sustainability imbalance.]