Canada’s transition to a low-carbon economy and net-zero emissions by 2050 will require substantial investment beyond the public sector. Private sector capital and expertise will be needed to meet our climate objectives and create a climate-resilient economy.
Sustainable finance refers to financial activities that take into account environmental, social and governance factors as a means of promoting sustainable economic growth and the long-term stability of the financial system.
Developing sustainable finance in Canada will promote the long-term growth and stability of Canada’s financial system, involving a focus on climate change as well as gender and diversity issues. It will also create new opportunities for Canadian businesses and investors.
Expert panel on sustainable finance
In 2018, the Government created the Expert Panel on Sustainable Finance to consult with Canada’s financial market participants on issues related to sustainable finance, including climate-related disclosures. In 2019, the Expert Panel issued its final report, which contains 15 recommendations outlining opportunities for sustainable growth, and concluded its work.
Sustainable Finance Action Council
In May 2021, the Government of Canada launched the Sustainable Finance Action Council to help lead the Canadian financial sector towards integrating sustainable finance into standard industry practice.
