The Canadian government is one of at least 25 countries and public finance institutions that pledged to stop financing the sector outside their borders by the end of 2022. (The Logic)

Talking point: The commitment, announced at the COP26 climate conference, is ambitious for Canada. A recent report from Oil Change International found Canada leads the G20 in public spending for the fossil-fuel industry, providing US$11 billion a year on average between 2018 and 2020. The Liberals campaigned on a promise to eliminate domestic fossil-fuel subsidies by 2023. But much of Canada’s spending on the sector goes overseas. Export Development Canada (EDC) spends the most on fossil fuels than any other federal agency. EDC has said it will reduce support by 40 per cent below 2018 levels for the six most carbon-intensive sectors, but Canada’s pledge in Glasgow would require much more aggressive cuts.