Bill Detail
An Act to enact the Climate-Aligned Finance Act and to make related amendments to other Acts
Part 1 enacts the Climate-Aligned Finance Act, which, among other things, establishes the climate commitments and obligations of various entities in relation to these commitments. Part 2 establishes further obligations for entities — primarily financial entities — in relation to the climate commitments provided for under the Climate-Aligned Finance Act by
(a) setting baseline requirements for entities to achieve climate commitments;
(b) providing greater certainty and transparency regarding entities’ respect for their responsibilities relative to the global carbon budget;
This bill, the Climate-Aligned Finance Act, aims to align financial activities with Canada's climate commitments. It sets requirements for various entities, particularly financial institutions, to meet climate goals. This includes establishing baseline requirements, enhancing transparency on carbon budgets, and ensuring regulators oversee climate-related risks.