Rosa Galvez has taken on a Herculean task: force Canadian financial institutions to prioritize the fight against climate change. But at the very least, she wants it to generate a debate about the role of the finance sector in climate change. Under the proposed law, fossil fuel projects and other high-emissions sectors would be considered high risk, effectively requiring more capital to get them off the ground. Financial sector 'off track'Exactly how the financial sector will help drive this transition remains unclear. Mark Carney, former Bank of Canada governor, believes the country is lagging when it comes to aligning the financial sector with climate change.
