Nature of risk
The Statement of Priorities and Accountabilities letter issued in February 2026 explicitly asks CIB to consider financing for projects referred to MPO. Expanding the CIB’s mandate to support fossil fuel infrastructure risks directing public funds toward projects that increase greenhouse gas emissions and prolong Canada’s dependence on oil and gas. It may also divert resources away from renewable energy, public transit, and climate-resilient infrastructure, undermining Canada’s transition to a low-carbon economy.
Policy summary
What changed
The federal government revised the mandate of the Canada Infrastructure Bank (CIB) to broaden its investment focus and allow greater support for projects deemed critical to Canada’s economic and energy security objectives. Critics argue that these changes could enable public financing for fossil fuel infrastructure projects that were previously outside the CIB’s core clean-growth mandate.
Primary source