The Yale School of Environmental Studies has reported that companies in Canada will have to account for their environmental impact and commit to making “environmentally sustainable decisions” in order to qualify for economic aid during the Covid-19 pandemic.
In order to apply for government loans, Canadian companies must commit to submitting reports that disclose how their operations impact climate change. They must also work on future environmental sustainability initiatives. Because this new rule applies to all businesses making $300M or more in annual revenue, it includes companies across industries that contribute heavily to pollution and energy consumption issues, such as airlines and oil drilling.
Read more about Canada’s new financing initiative and its impacts.