End Export Development Canada’s fossil finance

Canada's export bank, Export Development Canada, is one of the biggest public financial backers of fossil fuels in the world.

Amidst an escalating climate emergency, the oil and gas sector continues to receive billions of dollars in loans, insurance and other financial support from Export Development Canada (EDC) every year.

Between 2018 and 2020, this support topped $13 billion a year on average — making Canada the biggest provider of public finance for fossil fuels of any G20 country. 

EDC says it's taking action to address the climate emergency, but its plan doesn't include ending its support for fossil fuels. Ever.

The federal government recently acknowledged the need to phase out EDC's support for fossil fuels, and pledged to end its "direct" support for "unabated" fossil fuel energy overseas by 2022. Yet it has not committed to a timeline for eliminating the billions of dollars in support that EDC provides to oil and gas development domestically. 

The urgency of the climate crisis demands that Ottawa commit to a swift phase-out of all forms of financial support that EDC provides for fossil fuel development, in Canada and abroad.

Join us in calling for an immediate end to EDC's fossil finance.

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