Environment committee  Yes, this one's actually very recent, but I think the really important example is that Italy in the last few weeks, in response to the current invasion of Ukraine by Russia, has introduced a windfall tax on oil and gas. I think that's a really important measure, given how oil com

Environment committee  We know it's a global crisis—

Environment committee  —and so being able to compare impacts and actually have emissions reductions work across borders as we trade goods and have that harmony is really important, not to just see unintended consequences of a spillover or extra production abroad.

Environment committee  We can see across all jurisdictions that for the least cost of energy across the life cycle, renewables are cheaper to build, even from scratch, than fossil fuels at this point. That's in Bloomberg models. It's in IEA. The costs for cleanup for oil and gas are considerably higher

Environment committee  —costs escalating.

Environment committee  Definitely those three policies that I just mentioned are kind of excellent policies. For the UK and the U.S., they're whole-of-government approaches, so, for us, EDC is by far the largest source of public finance, but there are other agencies that give smaller amounts. A whole

Environment committee  Export Development Canada is supposed to undergo a legislative review every 10 years, and the one in 2018 was never completed. There was a report that was tabled under Jim Carr in 2018 that never went to a parliamentary committee, with strong recommendations for transparency of r

Environment committee  It's ranked last in the G20 based on, basically, 2018-20 finance. That is consistent across previous reports as well. EDC for a long time has given really outsized amounts to the oil and gas sector. It's by far the largest financier of oil and gas that signed this agreement at

Environment committee  The report you're referring to was comparing the trade and development finance of G20 countries. Through Export Development Canada, the amount of public finance we're giving to oil and gas is 14 times higher than for renewables, so that public finance absolutely needs to be phase

Environment committee  Yes, definitely. Export Development Canada is very anomalous compared with such agencies in any of our peer countries in the way that its export finance is structured. There's the Canada account, which acts, often, as a government slush fund: $3 billion of that $13.6 billion a ye

Environment committee  Good morning. My name is Bronwen Tucker. I co-lead the public finance program at Oil Change International, a research and advocacy organization focused on securing a just energy transition in line with a livable future. My work is focused on public finance and subsidies for fossi