The bill targets federal financial crown corporations, banks, trust and loan companies, pension funds and credit unions. It covers every type of debt or equity financing of exploration, extraction, production, transportation, storage, exportation, refining or retailing ofand their combustion for energy generation in a power plant — basically, everything Canada needs to remain an industrial society.
The bill would effectively discourage — in some cases probably even block — financing of pipeline operators, natural gas distributors and fuel companies . By including downstream emissions, the onerous risk weightings could extend to: goods and services inputs, waste disposal, business travel, delivery services and even financing of sparkling water companies and the cattle industry .
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Joe Oliver: Will the Liberals adopt an unhinged Senate bill discouraging fossil fuel investment?Bill S\u002D243, the “Climate\u002DAligned Finance Act,” would undermine free markets, the energy sector and the Canadian economy. Read more.
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