Ending Canadian Domestic Public Financing for Fossil Fuels

This report by the International Institute for Sustainable Development analyzes the scale of Canadian public financing for the fossil fuel sector and provides recommendations for a comprehensive policy to eliminate such financing to support the energy transition.

• Between 2020 and 2022, Canadian crown corporations, including Export Development Canada, provided between CAD 7.6 billion and CAD 13.5 billion annually to the fossil fuel sector, while domestic renewable energy received only CAD 147 million annually.
• A comprehensive policy to end domestic public finance for fossil fuels should encompass all financial instruments—including insurance, guarantees, grants, equity, and loans—because these tools de-risk projects and increase investor confidence in fossil fuels.
• The report recommends that Canada's policy to end public finance for fossil fuels should be published this year to align with climate commitments and the country's G7 presidency. This policy should cover the entire life cycle of all fossil fuels, include existing public finance and infrastructure, exclude financing for fossil-derived hydrogen or oil and gas decarbonization, and include non-combustion uses.
• To be effective, the proposed policy should incorporate transparency and reporting requirements, central mechanisms for accountability and enforcement, and guidance on redirecting public funds toward climate solutions.

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} }