On December 8th, the federal government announced new rules to limit public funding for fossil fuel projects outside Canada. Historically, the Canadian government has provided significant support for fossil fuel development overseas, largely through the crown corporation Export Development Canada. The new rules will ban funding and certain other forms of support for most oil and gas projects, though they feature some concerning exemptions, including for projects that include carbon capture and storage, natural gas developments in certain circumstances, and any project determined to be important for national security. For the moment, federal subsidies will continue to support Canada’s domestic fossil fuel industry, as detailed in a running list maintained by Environmental Defence. Read the National Observer’s article Read Greenpeace’s article
|