It’s been more than a year since the Liberals passed their landmark climate legislation, but environmental advocates say Finance Minister Chrystia Freeland has yet to fulfil obligations under the act that are key to meeting emission-reduction goals.
That legislation, the Canadian Net-Zero Emissions Accountability Act, became law on June 29, 2021, and outlines a number of benchmarks, like publishing incremental targets with a plan, so Canada can make it to net zero by 2050. But those familiar with the act say one section has stayed under the radar. Section 23 requires the finance minister to work with the environment minister to publish a report on the financial risks and opportunities associated with climate change alongside an explanation of what the government is doing to manage these factors.