S-238Government of Canada
An Act to enact the Climate-Aligned Finance Act and to make related amendments to other Acts
Senate bill creating a Climate-Aligned Finance Act. Requires federally regulated financial institutions (banks, insurers, pension funds, federally regulated credit unions) to set net-zero transition targets, publish annual transition plans, and align their loan and investment books with Canada's emissions-reduction commitments.
Status
✓
Introduced✓
1st Reading✓
2nd Reading4
Committee5
Report6
3rd Reading7
Royal AssentQuick learn
Tells federally regulated banks, insurers, and pension funds they have to publish climate-transition plans and align their lending and investments with Canada's net-zero target. Targets capital flows rather than the emissions themselves.
Issues this bill touches
- Climate & Environment
Climate-Aligned Finance Act: federally regulated financial institutions must align with Paris Agreement targets.
Legislative history
- First reading
First reading in the Senate.
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Official source
Read full text on Parliament of Canada