Sustainable investing: Canada to create guidelines [Video]

TORONTO –

Finance Minister Chrystia Freeland says the federal government is moving ahead with guidelines around sustainable investing and corporate climate disclosures, but details on the plans are scarce.

A wide range of investors, asset managers and environmental groups have been pushing the government to roll out such guidelines, also known as green taxonomies, to attract more investment for emissions-reducing projects.

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The federal government estimates achieving net-zero emissions in Canada by 2050 will require between $125 billion and $140 billion in annual investments, compared with current spending of between $15 billion and $25 billion.

“We know we need to pull in even more private capital. We need to crowd in even more private capital to have a transition happening at the pace and scale the climate requires,” said Freeland at a Principles for Responsible Investment conference in …