It was agreed, — That the committee proceed to sit in public.

At 11:06 a.m., the meeting was suspended.

At 11:10 a.m., the meeting resumed in public.

Monique Pauzé moved, — That the committee send a letter addressed to the Minister of Environment and Climate Change and the Minister of Finance to inform them that, as part of the study on the climate and environmental impacts related to the Canadian financial system, the committee is making the following priority recommendations:

1. Reforming Canada's financial system to align with climate commitments, as set out in Bill S-243, the Climate-Aligned Finance Act, which would itself provide a robust, science-based regulatory framework for conducting transition plans and annual progress reports and address greenwashing concerns around climate action;
2. The Office of the Superintendent of Financial Institutions is reconsidering the interpretation of its mandate, as suggested by the Commissioner of the Environment and Sustainable Development, and is issuing detailed guidance on transition plans;
3. Managers of federally regulated public pension funds, in particular the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, be required to fully disclose their investments in private equity funds; and
4. That a Sustainable Development Working Group be established within the Competition Bureau and that the rules be strengthened to combat greenwashing in the financial sector and to crack down on greenwashing.

And that the letter requests them to provide a detailed response within 45 days of receiving it on what the ministries have already undertaken and what they intend to put in place for each of the previous recommendations.

This letter does not include the report that will have to be considered as soon as the House returns, i.e. during the Committee's meetings during the week of January 27, 2025.

Debate arose thereon.

The debate on the motion of Monique Pauzé continued.

After debate, the question was put on the motion, as amended, and it was agreed to on the following recorded division:

YEAS: Shafqat Ali, Sophie Chatel, Laurel Collins, Lloyd Longfield, Monique Pauzé, Leah Taylor Roy, Adam van Koeverden — 7;

NAYS: Gérard Deltell, Michael Kram, Branden Leslie, Dan Mazier — 4.

The motion, as amended, read as follows:

That the committee send a letter addressed to the Minister of Environment and Climate Change and the Minister of Finance to inform them that, as part of the study on the climate and environmental impacts related to the Canadian financial system, the committee is making the following priority recommendations:

1. Reforming Canada's financial system to align with climate commitments, as set out in Bill S-243, the Climate-Aligned Finance Act, which would itself provide a robust, science-based regulatory framework for conducting transition plans and annual progress reports and address greenwashing concerns around climate action;
2. The Office of the Superintendent of Financial Institutions is reconsidering the interpretation of its mandate, as suggested by the Commissioner of the Environment and Sustainable Development, and is issuing detailed guidance on transition plans;
3. Managers of federally regulated public pension funds, in particular the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, be required to fully disclose their investments in private equity funds; and
4. That a Sustainable Development Working Group be established within the Competition Bureau and that the rules be strengthened to combat greenwashing in the financial sector and to crack down on greenwashing.

And that the letter requests them to provide a detailed response within 30 days of receiving it on what the ministries have already undertaken and what they intend to put in place for each of the previous recommendations.

This letter does not include the report, which is scheduled to start on Wednesday, February 12, 2025.

Laurel Collins gave notice of the following motion:

That, pursuant to Standing Order 108(2), the committee undertake a study on energy poverty and home energy efficiency;

That this study includes a review of defining and measuring energy poverty, barriers to getting to net-zero emissions in low-income homes, home retrofits for energy efficiency and existing government programs and policies, tenant rights in relation to access to energy services and affordable housing, the infrastructure gap in Indigenous communities and its hindrance to reaching net-zero emissions in homes; and

That experts and stakeholders be invited to appear; that the Minister of Environment and Climate Change and the Minister of Energy and Natural Resources be invited to appear; that the study consist of no fewer than six meetings; that the committee report its findings and recommendations to the House of Commons; and that, pursuant to Standing Order 109, the committee request that the government table a comprehensive response to the report.

On motion of Laurel Collins, it was agreed, — That the committee proceed to sit in camera.

At 12:15 p.m., the meeting was suspended.

At 12:15 p.m., the meeting resumed in camera.

It was agreed, — That the committee do now adjourn.