Export Development Canada’s Role in Bailing Out the Oil and Gas Sector

July 22, 2020By OCI TeamBriefings, Stop Funding Fossils No Comments

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.