Québec Sustainable Finance Roadmap: Finance Montréal welcomes a new mandate granted by the Government of Québec

Montreal, December 14, 2022 - Finance Montréal welcomes the announcement made by the Government of Québec regarding the development of a sustainable finance roadmap. Québec is among the first jurisdictions in North America to undertake such an exercise.

The roadmap will equip public decision-makers to guide them in implementing measures for a transition towards a sustainable, resilient, and inclusive economy. It will focus on identifying the actions and measures necessary to accelerate the development of sustainable finance practices, as well as ensuring their implementation, in consultation with key stakeholders in the Québec financial sector.

A demonstration of Québec leadership in North America

“Finance Montréal is proud to be awarded this major mandate that begins in early 2023. We thank the Government for its trust. Establishing a sustainable finance roadmap for Québec is an essential milestone for the financial sector to amplify its proactive role in a green, fair and responsible transition, which will strengthen the positioning of the financial center as a center of excellence in sustainable finance," says Jacques Deforges, CEO of Finance Montréal.

“By adopting a sustainable finance roadmap, Québec is equipping itself with the necessary tools to bring the financial sector to work together to meet the challenges of the climate crisis, the loss of biodiversity and the needs of populations. Thanks to its role as a catalyst within the Québec financial ecosystem and to the expertise of its members, Finance Montréal has the knowledge and leadership necessary to develop an ambitious roadmap that meets current challenges.,” says Geneviève Morin, Chair of Finance Montréal's Sustainable Finance Committee and CEO of Fondaction

A financial center that stands out on sustainability issues

Québec's leadership in sustainable finance is already renowned internationally. The city of Montréal was chosen last year by the International Sustainability Standards Board (ISSB) to host one of its two main offices, alongside Frankfurt. According to the most recent edition of the Global Green Finance Index, Montréal ranks first in Canada and among the best financial centers in North America in terms of sustainable finance. The Québec financial center has repeatedly demonstrated its leadership in the field, especially by mobilizing the local and international ecosystem, notably with the Declaration of the Quebec financial center for sustainable finance, a charter of commitments for financial sector players of the province in favor of finance that is based on responsible principles. During COP15 on biodiversity, the Quebec financial center has shown itself ready and mobilized. Finance Montréal is co-organizing the Finance & Biodiversity Day, a first in the context of a COP on biodiversity. Throughout COP15, Finance Montréal has brought together more than 130 people from 6 countries and more than 50 companies to form an unprecedented international delegation to foster exchanges and discussions on the role of finance in the preservation of biodiversity and the restoration of nature.

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