Freeland pushes ‘net-zero’ investment guidelines… without releasing any details

The feds claim they will fully decarbonize Canada’s economy by 2050, at a staggering cost. Between $125 billion and $140 billion in annual investments are needed, a nearly five-fold increase of current spending at $25 billion.

The Trudeau government refuses to detail guidelines on sustainable investing and corporate climate disclosures amid their radical emission reduction agenda.

The feds claim they will fully decarbonize Canada’s economy by 2050, at a staggering cost. Between $125 billion and $140 billion in annual investments are needed, a nearly five-fold increase of current spending at $25 billion. A third party is expected to table the taxonomy within a year of the organization starting its mandate. Meanwhile, frustrations from investors, asset managers and environmental groups mount. 

“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,” Finance Minister Chrystia Freeland told the Principles for Responsible Investment conference in Toronto.

On December 7, 2022, Minister Freeland refused to explain why taxpayers must spend $2 billion on the Canada Growth Fund, a corporation that doesn't exist. It was vaguely introduced in three paragraphs as part of the 2022 Fall Economic Statement, without specifics regarding the fund or its corporate structure.

“You're saying, ‘Give me the $2 billion. I'll buy some shares, but the company doesn't even exist,’” said Senator Elizabeth Marshall, a former auditor general of Newfoundland and Labrador. 

Freeland claimed they needed to act quickly on ‘climate change’ and transition from fossil fuels.

“There's no legislation that tells us anything about this yet-to-be-created corporation,” Marshall said. “We don't know anything about the composition of the board or even whether there will be a board,” she added.

The goal of the Canada Growth Fund is to attract $15 billion in private capital required to “decarbonize and grow their economies,” in addition to accessing a $2 billion taxpayer handout.

According to Environment Commissioner Jerry DeMarco, the Trudeau Liberals have never met an emissions target. “We haven’t had any reductions,” he previously told the Senate energy committee. “We are up 14 percent since 1990.”

In a 2023 report Emission Reductions Through Greenhouse Gas Regulations, DeMarco depicted federal climate programs as guesswork.

“We found the Department of Environment could not estimate whether any regulation had its intended effect,” the report reads. “We note this weakness could affect the department’s ability to make timely decisions.”

“Solutions exist,” DeMarco said, “such as renewing the government’s fleet with zero-emission vehicles or implementing effective fiscal and regulatory measures to reduce greenhouse gas emissions," but he contends the feds are implementing solutions “much too slowly.”

On the potential inclusion of fossil fuels, the Trudeau government said the transition may significantly reduce the emissions of existing natural gas production.

On company disclosures, the government intends to launch a regulatory process on what corporations will be included. Freeland clarified it's important for there to be greater corporate climate transparency.

“We know that requiring these disclosures is the right thing for businesses, it's the right thing for their lenders, it's the right thing for their insurers, It's the right thing for their shareholders,” the minister said.

“Requiring disclosures means people can make decisions based on transparency and understanding of climate risks and climate exposure,” she added.

PETITION: No Green Reset!

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Globalists are pushing a green reset by manipulating us to transition from fossil fuels to so-called "green energy" and "renewables." This shift is unneeded, unwanted, unaffordable, and unacceptable — if you agree, please sign this petition.

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Alex Dhaliwal

Calgary Based Journalist

Alex Dhaliwal is a Political Science graduate from the University of Calgary. He has actively written on relevant Canadian issues with several prominent interviews under his belt.

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