Government of Canada introduces first green bonds totaling $5 billion
The Government of Canada introduced its first
green bonds this week, a measure suggested by ICTC in 2020 in its
Economic Resiliency in the Face of Adversity white paper. The
earnings from green bonds will be set aside for climate projects, such as updating infrastructure, installing electrical vehicle charging stations, improving public transit, and launching reforestation projects. Canada follows the lead of 23 countries that have already introduced green bonds.
Government of Canada announces support for Canadians amid rising inflation
SEC introduces draft rules for the disclosure of climate-related risks
The US Securities and Exchange Commission (SEC) has published
draft regulations to govern corporate disclosures of climate-related risks. If adopted, large corporations would be required to disclose direct and indirect emissions, and take measures to improve their climate impact. Some firms already disclose emission targets and climate risks; however, the regulations would provide clear, universal rules for businesses to follow. Smaller companies would be exempt from the new disclosures.
Quebec releases 2022-2023 budget
On Tuesday, the Government of Quebec released its 2022
budget, which commits $22 billion to new program spending including support for immigrants looking for work, and support for regional economic goals. The budget proposes several innovation-related measures, though
some commentators suggest it could go further in addressing the province’s skilled talent shortage. The funding will implement Quebec’s Research and Innovation
strategy, which seeks to promote collaboration, competitive infrastructure, and innovation that can be commercialized or used for social impact. The province is also
renewing the Quebec Life Sciences Strategy.