To my knowledge there have been no international studies on that question of how far spreads would widen in response to a Canadian financial institution maybe not being up to snuff on climate risk management. The banks that we regulate have roughly $7 trillion in assets that they manage, that are on the balance sheet, and one basis point of widening times $7 trillion is a huge number, so it could be material.
On April 20th, 2023. See this statement in context.