Canada’s largest bank said it isn’t excluding oil and gas companies from its recently-created green bond program. The loans could go toward projects such as carbon-capture infrastructure. (Bloomberg)
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Canada’s largest bank said it isn’t excluding oil and gas companies from its recently-created green bond program. The loans could go toward projects such as carbon-capture infrastructure. (Bloomberg)
Talking point: While Prime Minister Justin Trudeau said at Toronto’s Collision Conference on Monday night that the federal government is phasing out support for Canada’s oil and gas sector, this news shows its banks won’t necessarily follow suit—at least not immediately. The Bank of Canada recently identified climate change as a source of vulnerability for Canada’s economy and its financial system. Oil and gas companies make up more than 20 per cent of the country’s exports, and are the largest source of its greenhouse gas emissions.
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