Finance Canada is ragging the puck on crucial policies needed to drive private investment in the clean energy transition, and it’s time for Finance Minister Chrystia Freeland to move the play up ice. Under Freeland, the Finance Canada is widely seen as a laggard in its effort to bolster sustainable finance in order to reduce the country's greenhouse gas emissions, and incentivize future-friendly investment.
“If we’re going to be able to finance the transition that this country needs, we can’t do it on our own, and we can’t only do it with public money, so we need to find ways to credibly direct investment to the transition activities that are required.” The banks and financial institutions in SFAC signed off on its recommendations for the transition taxonomy. The taxonomy does not include investment in unabated natural gas production as being consistent with Canada’s net-zero goals.