MONTREAL, March 2, 2017 /CNW Telbec/ - Mr. Timothy Lane, Deputy Governor of the Bank of Canada, today delivered a speech on climate change and Canada's economic future at a lunch conference organized by the Finance and Sustainability Initiative (FSI).
Mr. Lane addressed the risks that climate change, as well as policy responses to it, might pose to Canada's economy and financial system. Recognizing the unique opportunity this presents, he also explained how financial markets are integral to limiting climate change and how green finance can play a major role in supporting Canada's transition to a lower-carbon economy.
"Last year was a record year for global green bond issuance at US$81 billion", said Mr. Lane. "Green finance has the potential to become an integral part of mainstream finance. During the transition, there will be many opportunities for investors and financial institutions to find innovative ways of filling the gaps in the existing financial structure."
The event was attended by close to 150 members of the Canadian financial community, including the Québec Minister of Finance, Carlos J. Leitão. It was moderated by Addenda Capital President and CEO, Mr. Roger Beauchemin. Mr. Leitão took the stage to elaborate on the government's February 24th announcement of the issuance of the first green bond by the province of Québec.
Mr. Lane's speech and a webcast are available on the Bank of Canada website.
The Finance and Sustainability Initiative is a non-profit organization based in Montreal, Quebec, whose mission is to facilitate the evolution of investment practices by integrating environmental, social, and governance (ESG) criteria into investment analysis, selection, and management, all with a view to sustainable development. It brings together finance professionals dedicated to promoting sustainable finance and, more specifically, responsible investment to financial institutions, companies, and universities. It adopts a collaborative approach, centered on education, professional development, university research, and partnerships.
SOURCE Initiative pour la finance durable IFD
For further information: ENGLISH LANGUAGE MEDIA, Amr Addas, FSI, Member of the Board of Directors, Adjunct Professeur, John Molson School of Business, Concordia University, [email protected], Cell.: 514 996-4948; FRENCH LANGUAGE MEDIA, Solène Hanquier, FSI, Member of the Board of Directors, Sustainable Development Advisor, Desjardins Group, [email protected], Cell.: 514 702-8996; [email protected] / www.ifd-fsi.org