S-243Government of Canada
An Act to enact the Climate-Aligned Finance Act and to make related amendments to other Acts
Requires federally regulated financial institutions to align lending and investment activity with Canada's climate commitments under the Paris Agreement, disclose climate-related financial risk, and incorporate climate alignment in fiduciary duty. Drew strong opposition from the banking sector.
Status
✓
Introduced✓
1st Reading✓
2nd Reading✓
Committee5
Report6
3rd Reading7
Royal AssentQuick learn
Requires federally regulated banks and insurers to align with Canada's Paris Agreement targets, disclose climate risk, and treat climate alignment as part of fiduciary duty.
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.
View source - Second reading
Second reading in the Senate.
View source
Official source
Read full text on Parliament of Canada