Re: Phasing out public financing of the fossil fuel and petrochemical sectors Despite these new policies, in 2023 the federal administration still provided over $18.5

The new rules commit the government to aligning the provision of financial support with a pathway consistent with limiting global heating to 1.5°C and the development of a robust renewable energy sector and are therefore important steps towards aligning Canada’s economic policy with its climate goals. [...] Our recommendations for fulfilling the government’s commitment to eliminate public financing include: ● By Budget 2024, communicate the government’s approach to phasing out public financing of the oil and gas sector, including the scope of activities and sources of financing that will be covered. [...] In this case, the policy should initially include Export Development Canada (including the Canada Account), Canada Infrastructure Bank, Canada Development Investment Corporation, the Canada Growth Fund and the Business Development Bank of Canada. [...] The public has the right to know, in a timely manner, when a new subsidy or support qualifies under the criteria for the different policies and what the rationale is. [...] Release the self-inventory of existing tax and non-tax measures In 2023, the Government of Canada applied the Inefficient Fossil Fuel Subsidy Framework to existing tax Measures and 129 non-tax Measures.