EDC also wants a 37 per cent cut in emissions from its airlines portfolio by 2030. Read more here
By Randy Thanthong-Knight
Canada’s export credit agency is targeting a 15 per cent cut to its financing portfolio for upstream oil and gas production by 2030.
The target will include a three per cent shift — against a 2020 baseline — in the composition of production to gas from oil, recognizing that the former may play a role in supporting energy demand during the transition to net-zero emissions, Export Development Canada said.
EDC, a government-backed lender, also wants a 37 per cent reduction in emissions per passenger kilometre from its airlines portfolio by 2030, according to a statement released Tuesday.
The new targets for two sectors that make up a sizable portion of the agency’s financing business are part of its broader push to achieve net zero by 2050.
Source: Financial Post