What $16 billion could accomplish

Details: Published on Saturday, 18 July 2020 08:06; Written by editor

Paov,

A report released by Energy Policy Tracker this week revealed that, since the beginning of the COVID-19 pandemic, Canada has committed to handing out 16 billion dollars in public money to fossil fuel companies.1 At a time when thousands across the country are struggling to make ends meet, it’s unacceptable for the government to pour billions into an industry that’s cooking the planet.

We have a once in a generation opportunity to put bold and ambitious recovery plans in place and tackle the climate emergency. It's time to defund harmful institutions, like the fossil fuel industry, and invest that public money into a low-carbon economy that puts the health and needs of people first.

Thanks for signing the petition to demand Minister Bill Morneau join G20 finance ministers to invest in a Just Recovery.

We did some research on what $16 billion could accomplish if it was invested into initiatives that helped us build back better as we come out of the pandemic:

Here’s what $16 billion could accomplish:

$150 million to kickstart 100 Indigenous-led renewable energy projects. Indigenous communities across the country are leading the transition... to a renewable energy future with community-led climate change solutions.2 We could see massive expansion in these projects with support from the federal government.

$3.2 billion dollars can end all boil water advisories on First Nations reserves.3 More than 100 Indigenous communities across Canada do not have access to safe drinking water. This is a public health crisis. Canada’s own parliamentary budget officer claims that a $3.2 billion investment will bring First Nations water systems up to the standards of non-Indigenous communities.

$5 billion in emergency funding for Canada’s largest transit union to support public transportation. For less than one third of what they’ve invested in fossil fuels, Canada could meet the request of ATU Canada, the country’s largest transit union, which has asked the federal government for $5 billion in emergency funding.4

These are just a few examples. Read our latest blog to learn more about all of the other ways in which Canada could redirect the billions it has spent on fossil fuels to invest in climate action and the communities that need it most.

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Onwards,

Atiya

1 - Energy Tracker Report - Canada

2 - Indigenous renewable energy projects have experienced 30 per cent growth rate across Canada since 2017

3 - Cost of updating First Nations water systems could cost $3.2B: PBO

4 - The battle in Edmonton for a new kind of transit

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