Research

Canada’s export bank, Export Development Canada (EDC), already provides on average nearly fourteen billion dollars in support to oil and gas companies each year. As a result, Canada ranks second highest among G20 countries in public finance for fossil fuels. Now the federal government is using EDC to channel even more support to the oil and gas sector, which has been intensely lobbying the government for a bailout package of up to $30 billion.

This briefing outlines compelling reasons for investors to question whether TransCanada should proceed with Keystone XL given various obstacles facing its construction and commercially viable operation, and suggests questions institutional financiers may wish to ask TransCanada.

According to a new report released today by Rainforest Action Network, Oil Change International, and 10 organizations from around the world, commercial banks continue to finance the tar sands sector at levels that do not align with the Paris Agreement 1.5° to 2° target – and finance levels are surging in 2017.

A new report exposes the huge financial risks behind three major Canadian tar sands pipeline project proposals: Kinder Morgan’s Trans Mountain Expansion, TransCanada’s Keystone XL and Enbridge’s Line 3 expansion.