Ceres Calls on Canada to Support Policies for a Resilient, Low-Carbon Economy

BOSTON: In a letter sent to Canadian Prime Minister Mark Carney, the global sustainability nonprofit Ceres urged the new leader to support a forward-looking policy agenda for a cleaner, more resilient and investable economy.  

Ceres supports North American investors in addressing material financial risks and opportunities associated with climate change and other sustainability issues, who seek policy environments that support stable and sustainable economic growth. Nineteen Canadian investors representing $1.7 trillion in assets under management participate in the Ceres Investor Network of nearly 200 investors that includes many of the largest North American asset managers and asset owners. 

“Under Carney’s leadership, Canada has a unique opportunity – and responsibility – to chart a course that aligns with global climate goals, supports long-term investor confidence, and creates an inclusive, future-ready economy,” said Ceres CEO and President Mindy Lubber, a signatory to the letter. 

The letter encourages the federal government and policymakers to: 

• Maintain and strengthen the federal carbon pricing system, especially for industrial emitters, ensuring it remains credible, consistent, and economy-wide; 

• Promote interoperability between provincial carbon markets, building a unified and credible national system; 

• Develop a national clean electricity strategy, including transmission planning and enabling infrastructure; 

• Ensure that clean energy projects are included in plans for economic development and stand to benefit from a similar level of regulatory clarity and financial support as oil and gas; 

• Design regulatory reforms and financial tools (e.g., environmental assessment streamlining, federal loan guarantees) to serve all energy sectors equitably; 

• Finalize robust regulations to reduce oil and gas methane emissions by at least 75% by 2030 relative to 2012 levels, as investors representing over $1.5 trillion in assets have asked; 

• Prioritize inclusive approaches for economic development that ensure free, prior and informed consent and offer equity ownership and participation opportunities for indigenous communities; 

• Reassess and phase out fossil fuel subsidies that do not address energy poverty or just transition, and redirect support to low-carbon sectors; 

• Advance a robust sustainability disclosure framework, including regulatory tools such as NI 58-107; 

• Revisit Bill C-59 and the proposed Competition Act guidelines to ensure they do not unintentionally deter credible climate-related disclosures. 

Several investors have expressed concerns that recent calls from energy CEOs to remove the industrial price on pollution and the proposed emissions cap may ultimately reinforce economic dependence on legacy sectors, rather than position Canada at the forefront of the energy transition. 

“Investors are increasingly focused on how governments and companies are preparing for a future shaped by decarbonization, climate adaptation, and structural shifts in global energy markets,” said Andrew Logan, Director of Oil and Gas at Ceres. “Investors certainly want to see Canada future-proof the oil and gas sector that has been a key engine of economic growth by implementing strong incentives to address emissions. At the same time, investors seek a broader action plan that supports energy diversification, transition planning, resilience, and the development of emerging sectors – including clean electricity, innovation-driven services, and value-added manufacturing.” 

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 About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world's sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities, and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit ceres.org.