EJQ3 - Winter 2025 - Journal - Page 49
storage, emissions-free power generation such as small modular nuclear
reactors and renewable energy, and cracking down on methane leaks.
In the longer term, it means transitioning away from fossil fuel production
toward clean energy, which will be a signi昀椀cant transformation of the Canadian economy but a necessary one as global demand for oil and gas declines.
Some critics claim that misguided ESG policies, rampant greenwashing and
poor-performing green bonds have tainted the potential of sustainable 昀椀nance initiatives. Please share your perspective on these types of claims.
Constructive criticism is welcome and highlights areas where current practices or ideas fall short and can be improved. The answer is not to give up on
sustainable 昀椀nance but to provide clarity and rigorous standards and transparency measures, and support small and medium businesses. This is why
governments and regulatory bodies are taking measures to improve transparency and accountability of ESG related products and
reporting, for example the EU’s Sustainable Finance Disclosure Regulation
that standardizes how 昀椀rms report sustainability metrics. As sustainable 昀椀nance matures, we expect greater standardization and better policy support
E N V I RON M E N T J OURN A L QUA RT E RLY RE PORT • W I N T ER 2 02 5 • P AG E 4 9
