Canada promises billions for climate aid while subsidizing fossil fuels
- Canada announced over $2 billion for climate financing to assist developing nations at COP29 in Azerbaijan.
- The Canadian government faces criticism for considering billions in subsidies for fossil fuel companies while promoting environmental initiatives.
- Concerns are mounting about the government's commitment to climate action due to substantial financial support for the oil and gas industry.
At the COP29 climate negotiations in Azerbaijan, Canada unveiled a financing platform exceeding $2 billion aimed at aiding developing nations in tackling the impacts of climate change and transitioning to cleaner energy sources. Despite this commitment, concerns have arisen regarding Canada's domestic policy, as it appears to be entertaining substantial financial support for the oil and gas sector. The Pathways Alliance, representing major oil sands companies, has engaged in numerous meetings with federal officials seeking subsidies that could divert taxpayer money away from climate initiatives. Reports indicate that since 2020, Canada has funneled approximately $65 billion into fossil fuel subsidies, highlighting a contradiction between its international climate promises and domestic practices. The Alberta government has also raised doubts about the efficacy of proposed carbon capture initiatives, suggesting that Canadians might be facing additional burdens amidst the ongoing climate crisis.