Evidence of meeting #110 for Environment and Sustainable Development in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was risk.
A recording is available from Parliament.
May 30th, 2024 / 5:40 p.m.
Liberal
Shafqat Ali Liberal Brampton Centre, ON
Thank you.
As you know, climate finance policies have implications for both investors and insurers. To what extent do you believe Canada should be aligned with other nations in implementing measures to support sustainable finance?
5:40 p.m.
Superintendent, Office of the Superintendent of Financial Institutions
The way I think of that question is I serve as superintendent for a banking system and a financial system that takes in capital from outside the country to invest in it. The people who provide the institutions with that capital look to Canada's standards, including our standards on climate risk. One of the reasons we have focused on B-15 is to show those investors that we take it seriously. Our institutions have policies and procedures in place to manage it effectively.
5:40 p.m.
Liberal
The Chair Liberal Francis Scarpaleggia
That's perfect.
I want to thank all the witnesses. As expected, this has been a rather lively and fascinating discussion.
Thank you for making yourselves available to us.
We'll end it there. I wish all committee members a good weekend.
Thank you.