Ending Canadian Domestic Public Financing for Fossil Fuels

The report highlights a significant disparity in Canadian public finance, with crown corporations providing between CAD 7.6 billion and CAD 13.5 billion annually to fossil fuels (2020-2022) versus CAD 147 million for domestic renewable energy. It argues that Canada must implement a comprehensive policy this year to end all public finance for fossil fuels—including loans, equity, and insurance—to align with climate commitments and its upcoming G7 presidency.

• Between 2020 and 2022, Export Development Canada and other crown corporations provided annual funding to the fossil fuel sector ranging from CAD 7.6 billion to CAD 13.5 billion, while domestic renewable energy received only CAD 147 million annually.
• A comprehensive policy to end domestic public finance for fossil fuels must encompass all financial instruments, including grants, loans, equity, insurance, and guarantees, because these tools de-risk investments and increase confidence in fossil fuel projects.
• The report recommends that Canada's forthcoming policy to end public finance for fossil fuels should cover the entire life cycle of all fossil fuels, include existing investments, preclude financing for fossil-derived hydrogen or oil and gas decarbonization, and include non-combustion uses.
• Canada is urged to publish a policy to end all public finance for fossil fuels within the current year to maintain consistency with its climate commitments and lead by example before its G7 presidency.

APA

O'Manique,, A. G. C. (2024). Ending Canadian Domestic Public Financing for Fossil Fuels. International Institute for Sustainable Development. https://www.iisd.org/publications/report/ending-canadian-public-financing-fossil-fuels

Chicago

O'Manique,, Anna Geddes,Laura Cameron,Claire. Ending Canadian Domestic Public Financing for Fossil Fuels. International Institute for Sustainable Development, 2024. https://www.iisd.org/publications/report/ending-canadian-public-financing-fossil-fuels.

Wikipedia

{{cite report |last1=O'Manique, |first1=Anna Geddes,Laura Cameron,Claire |title=Ending Canadian Domestic Public Financing for Fossil Fuels |publisher=International Institute for Sustainable Development |date=4 June 2024 |url=https://www.iisd.org/publications/report/ending-canadian-public-financing-fossil-fuels |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{omanique2024ending, author = {O'Manique,, Anna Geddes,Laura Cameron,Claire}, title = {{Ending Canadian Domestic Public Financing for Fossil Fuels}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = jun, url = {https://www.iisd.org/publications/report/ending-canadian-public-financing-fossil-fuels}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }