Thursday , December 3 2020

EDC spends 12 times more than clean technology for fossil fuels

OTTAWA – Demonstrating new research Export Development Canada has provided 12 times more financial support to oil and gas companies to clean up technology companies over the last five years.

The findings of the lobby group Oil Change International show that the federal government's export finance provider provided oil and gas companies with $ 62 billion between 2012 and 2017, compared to $ 5 billion for the clean technology sector.

Patrick Derochie, director of climate and energy programs in Environmental Defense, cannot claim to be the climate leader when Canada spends billions of dollars to continue spreading carbon and other greenhouse gases into the atmosphere.

The United Nations World Meteorological Association said that the amount of carbon and other climate-changing gases held in the world atmosphere has broken new records in 2017.

The Federal Liberals say consecutive clean-up technology is a $ 26 trillion opportunity for Canada, but believes that environmental groups are working against them by spending more money on Canada to promote pumping oil on their territory.

A day after the report provides new tax cuts for companies investing in new equipment and machinery, including clean technology equipment, the report acknowledges that some of these investments will encourage more emissions production.

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