Bill would undermine free markets, the energy sector and the Canadian economy
Sir John A. Macdonald called the Senate “a place of sober second thought,” which may have reflected his appreciation for at least occasional sobriety. But Bill S-243, the “Climate-Aligned Finance Act,” is the antithesis of thoughtful reconsideration. Its declared purpose is to regulate investment practices so as to reduce the risks both that financial institutions pose to the climate and that climate change poses to financial institutions. In fact, it would undermine free markets, with potentially debilitating consequences for financial institutions, the energy sector and the Canadian economy in general.
