The Power of People in Canadian Finance: Toronto’s Climate Week and Community Leadership

Abstract: Becky Park-Romanovsky, founder of Toronto Climate Week and co-founder of Climate North, calls on Canada’s financial sector to lead the global climate transition by embedding resilience and sustainability into the core of lending and investment strategy. With a background spanning international carbon offset projects, nonprofit organizing, and business innovation, she argues that Toronto is ready to emerge as a global climate finance hub. As Toronto Climate Week approaches, she invites finance leaders to help shape a bold, unified vision for Canada’s green economy.

Last year, while managing carbon offset projects around the world and co-founding a grassroots climate nonprofit here at home, I kept asking myself the same question: What would it look like if Toronto became a climate hub? A city-wide hub that encompasses capital, culture, and climate ambition – what kind of impact would it have on the green economic transition?
Sure enough, that question became my mission. In the beginning of 2025 I left my job in the U.S., and along with one of my co-founders at Climate North and a few bold community leaders, I decided to fully commit to building what is now Toronto Climate Week. However, the work has always been about something bigger: strengthening the national climate finance ecosystem through collaboration, inclusion, and action. Canada’s financial sector has a rare opportunity right now: to not only manage risk but to define global leadership in the next economy.

What does climate leadership in finance actually look like? 

It starts with three things: recognizing risk, moving capital where it’s needed, and making space for more people to take part.

First, we need to be honest about the risks. Wildfires, floods, and extreme weather aren’t isolated events. They’re ongoing challenges that put pressure on portfolios, public budgets, and long-term economic stability. Climate risk has to be factored into lending decisions, investment strategies, and financial planning across the board.

Second, capital needs to move faster and reach further. Canada has the clean technologies, the innovators, and the global credibility to lead. What’s missing is alignment. Climate resilience should be part of how we make financial decisions every day, not something that’s handled by one department or left to a quarterly report. We need frameworks that support early-stage innovation, tools that help share risk, and policies that encourage private and public sectors to work together. That includes a national taxonomy, stronger climate disclosure rules, and clear signals that guide investment toward solutions – especially by framing climate investments as a profit centre, not a cost.

Third, we need more people engaged in shaping the financial future we’re building. For too long, climate finance has been driven mostly by institutions and policy. But the transition won’t succeed without input and energy from entrepreneurs, community leaders, and creative voices. Finance is no longer just about numbers. It’s about building trust, creating impact, and planning for the kind of future we actually want.

This is where city-level collaboration becomes powerful. When climate action is made visible and participatory, real partnerships start to form.

Action Builds Trust

The federal government has laid important groundwork for a sustainable finance strategy. Canada has committed to climate disclosures and supporting transition financing. These are the right steps. But as every investor knows, execution matters more than good intentions. A taxonomy that is too vague won’t move capital. Disclosures without enforcement won’t change behavior. A finance strategy that doesn’t prioritize collaboration won’t scale.

TOCW is calling on finance leaders to come together around three core priorities:

1. Advance a clear, enforceable taxonomy that defines green and transition investments in Canada.
2. Implement mandatory, meaningful climate disclosures rooted in both global standards and Canadian realities.
3. Build a national sustainable finance strategy that places financial institutions at the center of our climate response, not on the sidelines.

If Canada wants to lead in the clean economy, we need financial systems that reflect the urgency, creativity, and inclusiveness this moment demands.

Toronto Climate Week is launching this fall to unite communities, businesses, governments, and creatives across the city in a shared mission: to position Toronto and Canada as a global leader in climate finance and action. This decentralized, inclusive event will showcase innovative solutions, spark collaboration, and push for concrete policy and financial commitments. With climate risks mounting and economic opportunities growing, TOCW calls on leaders to prioritize clear climate finance frameworks and meaningful disclosures. Together, we can build a resilient, prosperous future starting right here in Toronto.

5 Key Insights:

1. Canada’s Financial Sector Must Lead the Transition
   Toronto has the potential to become a global climate finance hub—Canada’s financial institutions must embed resilience, risk management, and sustainability into core strategy to lead in the clean economy.

2. Climate Risk is a Financial Risk
   Wildfires, floods, and extreme weather are no longer anomalies—they are persistent pressures on portfolios and public budgets, demanding urgent integration into lending and investment decisions.

3. Capital Must Flow Faster and Smarter
   Canada has the innovation to lead but lacks alignment. A strong, enforceable taxonomy and effective disclosure rules are needed to unlock private capital and treat climate investments as profit-generating, not peripheral.

4. Collaboration and Inclusion Are Essential
   The climate finance movement must extend beyond institutions—entrepreneurs, community leaders, and creatives are vital to building trust, innovation, and lasting impact.

5. Toronto Climate Week is a Catalyst for Action
   Launching this fall, TOCW aims to bring together over 300 leaders across sectors to accelerate climate finance in Canada—focusing on clear taxonomies, enforceable disclosures, and a unified national strategy.

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