May 13, 2020 / 3:52 PM / 13 days ago

Canada's oil producers need climate targets to draw investment, Trudeau says

May 13 (Reuters) - Oil producers need to set clear targets to fight climate change to draw global capital, Canadian Prime Minister Justin Trudeau said on Wednesday, as major investors stepped up restrictions on transactions involving the Canada's carbon-instensive oil sands.

"We've seen investors around the world looking at the risks associated with climate change as an integral part of investment decisions they make," Trudeau told reporters, adding that many companies in the energy sector understood the investment climate is shifting.

"There is a need for clear leadership and clear targets to reach on fighting climate change to draw on global capital." (Reporting by Jeff Lewis Editing by Chizu Nomiyama)

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