Canadian Finance Minister Chrystia Freeland has resigned today, hours before she was scheduled to deliver an economic and fiscal update in which it was expected that the federal government would miss the deficit target of $40.1-billion. In her letter posted on X, Freeland stated that she and the Prime Minister have been at odds during the past few weeks when it comes to the best path forward for Canada. Freeland, the first female finance minister, was also the deputy prime minister.In other news, the Bank of Canada reduced its interest rate on December 11 to 3.25% as the Bank continues its policy of balance sheet normalization. Global financial conditions have eased, and the Canadian dollar has depreciated in the face of broad-based strength in the US dollar ($1USD is $1.42 CDN on December 16). In Canada, the economy grew by one per cent in the third quarter, below the Bank’s previous projection, and the fourth quarter also looks weaker than projected. The Bank’s Governing Council is committed to maintaining price stability by keeping inflation close to the two per cent target.Meanwhile, when it comes to the clean economy, a new report reveals that there’s $789 billion in green finance opportunities for small to medium sized enterprises. “Unlocking Sustainable Finance for SMEs” is a global report, produced in part by the International Chamber of Commerce, which quantifies gap between sustainability ambition and the ability of SMEs to take action, preventing them from accessing vital green finance needed to drive their initiatives. According to the report, Canadian SMEs are highly committed to sustainability, with a resounding belief that sustainability is important to their business and local communities. Many Canadian SMEs have sought green financing and believe that reporting is key to obtaining this financing. The report includes key data points for Canadian SME sustainability. (ICE TORONTO)

Fonte notizia: https://environmentjournal.ca/