Canada Investment Summit Falls Short on Sustainable Economy Goals

The Canada Investment Summit was hailed as a success, attracting foreign bankers, pension executives, and investment fund managers. The event's goal was to generate capital commitments for various projects, with Canada's financial industry pledging $500 billion in new lending and investment beforehand.

However, the summit failed to address global warming and the transition to a low-carbon economy. A sustainability analysis by Corporate Knights found that only 43 of the 167 potential investment projects listed in the pre-summit deal book represent sustainable capital expenditures (capex), worth $169 billion or 36% of the total prospective investment.

Despite this, more than $129 billion, or 28%, of the total potential new projects listed would not qualify as sustainable capex. These include oil and gas expansion projects that threaten to continue the business-as-usual economy, according to Corporate Knights research director Ralph Torrie.