The Climate-Aligned Finance Act sponsored by the senator provides a legislative framework for disclosure that would go beyond the Office of the Superintendent of Financial Institutions' guideline B-15, and even farther beyond what is coming from the International Sustainability Standards Board.
If the banks are required to provide a higher level of disclosure about their investment and loan portfolios in terms of financial risks resulting from climate change, then of course they would be required to disclose their investments in, and loans to, the fossil energy industry.
Here again, connections were made between disclosure and disinvestment. I believe that disclosure is to be commended because it offers investors a choice.
As for pressure being applied to achieve our goals, whether through disinvestment, commitment or personal decisions, we need all of these tools to make a change in an economy that has numerous stakeholders.
When all is said and done, AlphaFixe Capital supports the bill to enact the Climate-Aligned Finance Act, because we believe in more disclosure.