Canada spent over $15B on financial support for oil & gas industry this year: report

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

According to the Environmental Defence report, Canada is the largest international fossil fuel financier to sign the COP26 pledge From jefflagerquist

The non-profit group Environmental Defence says Canada continues to fuel"climate disaster" by providing billions to oil and gas companies.

Last year, Canada joined 23 other nations at the UN’s COP26 climate conference in committing to end certain types of support for foreign oil and gas activity by the end of 2022. Natural Resources Minister Jonathan Wilkinson added at the time that Canada will also end public financing of domestic fossil fuel projects, a Liberal Party election promise.

The Environmental Defence report says EDC accounts for the bulk of the federal government’s financial support for the fossil fuel industry, averaging $13 billion per year from 2018 to 2020. The Crown corporation’s sum includes its support for projects like the Trans Mountain Pipeline Expansion and the Coastal Gas Link pipeline.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines