Environment committee  We use it everywhere in our decision-making, and we have come out very clearly and said it underpins all of our strategy. Perhaps I may share with the committee some of the dilemmas that it can raise for you. One of the current dilemmas that is very challenging is, in fact, with

Environment committee  I am not aware of any agreed upon international definitions. I do understand that there are a number of government departments that are currently looking at that, and we provide our advice to them. Export Development Canada has been operating for 76 years. We operate under OECD

Environment committee  I am not sure, Mr. Carrie. Typically, we would put that under the definition of community investment. Under ESG and the way ESG definitions are changing, community investment, while appreciated and often needed in these specific communities, is not enough to deal with the enviro

Environment committee  Certainly. Thank you for that. It's just normal operational practice at EDC regardless of the sector. This is something we're very conscious of. We are there to fill market gaps and, therefore, always operate under market principles and practices. That means we are always benchm

Environment committee  I can't speak about all government funding. I can only speak about what EDC does, and it is not a subsidy.

Environment committee  No, not at all. We've been working on climate stress tests for quite a considerable period of time. We've been working with some methodologies. We're looking forward to the Bank of Canada's methodology that's very specific to Canada. That's how we look at our own financing book t

Environment committee  I'll just confirm that it's an analysis of the types of clean technology support that we provide, by category. Is that what—

Environment committee  All of our transactions are recorded on our website. I assume you want some combination of that.

Environment committee  So that I am very clear, we do not provide subsidies. EDC has provided support to the oil and gas industry, and companies in the oil and gas industry. That number has been significantly reducing in the last three years. In fact, it has reduced by 65%. I can't speak to the specif

Environment committee  Certainly.

Environment committee  We made our statements, pre-COP26, that said we are absolutely exiting any new financing for international companies and their projects by the end of 2022. We have stated that.

Environment committee  We said that we would want to continue to review the domestic production and the domestic companies and our support for them. As with all EDC transactions, they involve a review of individual companies and individual transactions. We just announced our sustainable bond framewor

Environment committee  We have actually quite a broad definition of clean technology. It includes anything from renewable energy to waste management to water management to green buildings. We were very particular in defining in our new “sustainable bond framework” what we consider to be green projects

Environment committee  Very similar to the Government of Canada, we have our green bond product, which does not support...but this is a new product, the transition bond. It's a recognition that we need to get in and help these companies move faster toward reducing their GHG emissions. That's why we h

Environment committee  I think 2050 is perhaps the endgame for any of us working in this space. It's about actually interim targets. It's about looking at pathways. It's about looking at scope 1, scope 2 and scope 3 emissions and actually working on a plan to get there. A plan cannot just be “we will b