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TransMountain Pipeline

Canada OKs ‘Massive’ $20 Billion Loan For Trans-Mountain Pipeline

February 10, 2025 Taylor Noakes, DeSmog. , , ,
The Canadian government quietly approved a staggering $20 billion loan to support the Trans-Mountain Expansion (TMX) pipeline. According to Canadian environmental advocacy organization Environmental Defence, this raises the Canadian government’s total financial commitment to the pipeline to $50 billion, drawing sharp criticism from environmentalists and economists. “At a time when Canada should be accelerating its clean energy transition, providing $20 billion in public financing for the TMX pipeline is a step in the wrong direction,” Laura Cameron, a policy advisor with the International Institute for Sustainable Development (IISD) who specializes in fossil fuel subsidies, told DeSmog in an email. 

Trans Mountain Loses 16th Insurer

September 17, 2021 The Energy Mix. , , ,
The world’s biggest publicly-traded provider of property and casualty insurance, Chubb, has become the 16th insurer to declare that it won’t back the controversial Trans Mountain pipeline, a coalition of climate and Indigenous campaigners announced yesterday. The flurry of social media activity was triggered by a single tweet from Financial Times insurance correspondent Ian Smith, with no elaborating news story as The Energy Mix went to virtual press Tuesday evening. “Chubb does not provide insurance coverage for any tar sands projects,” a spokesperson told Smith, following a protest at the U.S. Open tennis tournament earlier this month. Chubb became the official insurance sponsor for the annual tournament last year.
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