The Trudeau government has finally released its plan to backstop big businesses hit by the COVID crisis.
The Large Employer Emergency Financing Facility was unveiled Monday by Finance Minister Bill Morneau and Industry Minister Navdeep Bains as a credit-bridging measure that would provide liquidity to companies that could not get it from their banks. Under the government’s plan, if airlines need financing for aircraft leases or retailers need cash for rent, they can apply for loans at rock-bottom interest rates. Air Transport Association of Canada CEO John McKenna said he still hopes to see an aviation-specific aid package, since most carriers in Canada don’t meet the $300-million revenue threshold for the LEEFF. But those hopes appear forlorn.
Much of that information for investors, lenders and insurers is already disclosed by large companies under Canadian securities regulations. Litigation risks, physical risks, regulatory risks, reputational risks all need to be divulged already.
Pandering to left-of-centre voters? What an odd take. The requirement is for 'annual reports consistent with the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures'. It specifies the subject area - not the content - of an annual report.
Such is the privilege of the party on power John. Don't like it? Blame the hot garbage CPC for being a dumpster fire.
Ivison is really pushing his way to the top of biggest dikkhedd in Canada. I mean, good on him. He saw the opportunity and he went for it!
Pandering? Well, I guess you’re an expert
Western separation now
It’s obvious gmbutts is still in control.
Grandstand environmental policy? What do you believe drives investment? The paradigm has shifted and our industry needs support not communications that perpetuate the false dichotomy between resource development and environmental protection.
Lot of whinging about nothing. As he admits, companies already do this with their ESG reporting. Or they can’t attract capital readily. Canada voted strongly for climate action, getting big oil to clip and paste their ESG disclosures into their docs is too much to ask? cdnpoli
Given this kind of BS.... I'd say it was justified.
What about airlines, transportation sectors they desperately need help, can they become carbon neutral by 2050 or is this just a hoop that oil/ gas need to jump through?
That’s the Quebec influence
Why do you love Trudeau so much, John Ivison?
This reminds me of the attestation that organizations had to sign to access summer jobs funds. This is low even for Trudeau.....
The liberal_party is full of garbage reject people.
To be Fair Aladdin's been a Useless Pandering Dumpster Fire for Years 🔥 MagicKingdom PeterPanPM 🧦🤡😜🧦
IvisonJ Some Canadians who listened to Alberta threaten to separate, DO want ecological progress and dislike throwing money at an industry that we'd ideally like to grow away from. Asking for environment considerations? Reasonable to me.
Disgraceful. Tying political goals to federal loans during a pandemic.
Turns out 70% of the oil sands is foreign owned.
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