The Government of Canada has made some progress in ending support for the fossil fuel sector, including introducing two policies over recent years aimed at ending international public financing and inefficient fossil fuel subsidies. However, most of the support provided by the federal administration to the oil and gas sector is in the form of public financing for domestic oil and gas companies, mainly through Export Development Canada.
The government promised in 2021 to eliminate this fossil financing, yet no progress has been made to date, other than a commitment to have a policy in place by Fall 2024. It is our understanding that Environment and Climate Change Canada is currently developing the draft policy.
We have drafted a sign on letter with our recommendations, in order to show broad alignment on the need for the government to develop a robust policy (as well as some suggestions on improving the rules ending fossil fuel subsidies
Please consider signing on! Here’s the letter and here’s the sign-on form. The deadline for adding your organization is March 27.