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A motion tabled earlier this month in the House of Commons is the latest effort to address the fossil fuel investments and climate risk exposure of Canadian banks and other financial institutions including the world’s biggest fossil fuel financier in 2022
Rosa Galvez introduced a private member’s bill last year aimed at mandating federally regulated institutions to reduce economic risk by focusing on climate goals
Canadian financial institutions banks, pension funds and private equity firms fund the fossil fuel industry and are therefore helping fuel the climate crisis. Why won’t Ottawa hold them to account?
Private member’s motion comes amid growing calls for “climate-aligned” finance rules aimed at keeping Canada on track to meet carbon reduction targets.