Canada: Financial Sector Assessment Program-Technical Note on Climate Risks Analysis

International Monetary Fund · last updated August 8, 2025 – 5:55 PM

Summary

The financial sector in Canada is exposed to both physical and transition climate risks. Floods and wildfires are prominent hazards, and climate change could increase their intensity. As a major fossil fuel producer, Canada is also exposed to transition risks, the 10th largest global emitter, and has committed to reduce emissions by 40–45 percent by 2030 relative to 2005.

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