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.