Canada’s Support For International Oil And Gas Projects Comes to an End
Source: Irina Slav for Oilprice.com, Dec 16, 2022
Canada is one of 38 countries that pledged to end support for new oil and gas projects at last year’s COP26 in Scotland.
Canada has officially ended its government support for international fossil fuel projects, fulfilling a commitment it made at last year’s Conference of the Parties, or COP, Ottawa said in a statement.
“The Government of Canada is taking a suite of actions to achieve Canada’s climate goals,” the statement read. “These include accelerating our G20 commitment “to phase out and rationalize inefficient fossil fuel subsidies” from 2025 to 2023, and to develop a plan to phase out public financing of the fossil fuel sector, including by federal Crown corporations, in accordance with the December 2021 Ministerial mandate letter commitments.”
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