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.