Category: General

May 25, 2023

Critical Issue Overlooked in Consultation on Proposed Acquisition of HSBC by RBC

The following letter was sent to the Competition Bureau.

We are writing in regards to the Request For Information (RFI) the Competition Bureau opened on May 1, 2023 about the proposed acquisition of HSBC Bank of Canada by RBC. This transaction is an issue the undersigned groups are paying close attention to, and we urge the Bureau to reject the acquisition after considering the consequences for efforts to mitigate climate change and the availability of sustainable financial options for consumers.

We applaud recent moves by the Competition Bureau to address the issues of misleading climate and environmental claims in advertising, aka greenwashing. Commissioner Boswell recently stated the “Bureau’s job is to protect the integrity of the marketplace, and that includes consumer confidence in the green economy.” The three current investigations the Bureau has opened relating to deceptive green marketing practices – including on RBC – are proof of this priority.

So while your RFI consultation rightly centres on issues of personal and business financial services in Canada’s highly concentrated banking sector, we believe you are missing a fundamental concern with this proposed transaction that can’t be overlooked.

RBC has a significant negative impact on our climate due to their ongoing financing of high emitting companies. RBC has financed over C$340 B in fossil fuels since the Paris Climate Agreement was signed, and in 2022 became the world’s #1 financial backer of fossil fuels. RBC has set only “emissions intensity” targets for 2030, which will allow its total financed emissions to rise. When challenged on its climate record it touts billions set aside for “sustainable finance,” but RBC deemed a $1B Enbridge oil sands pipeline loan sustainable, and a 2023 report shows RBC puts $99 of its energy finance into fossil fuels for every $1 in renewable energy.

RBC’s track record is relevant in comparison to that of HSBC Canada, a bank which has taken action to deliver on its sustainability commitments. HSBC helped issue Canada’s first green bond, had many corporate clients who valued sustainability, and consistently ranked higher than RBC in Corporate Knights Corporate Citizenship rankings. In 2022, HSBC announced a precedent setting policy to stop financing new oil and gas projects, which, while imperfect, was welcomed by UK NGOs. Importantly for your consideration, RBC had that climate policy exempted from HSBC Canada as a condition for the takeover in question. In 2022 HSBC’s global fossil fuel financing went down, and will continue to do so based on commitments made at the time, while RBC’s went up, making RBC the top global banker of fossil fuels.

Despite claims to be Net Zero by 2050 and to support clients in the energy transition, RBC’s business practices show it has no intention of cutting its financing of fossil fuels. Both the UN and International Energy Agency agree we must cut our climate emissions in half by 2030, and that there is no room in a Net Zero 2050 scenario for any new fossil fuel development. The UN Secretary General states “we must have zero tolerance for net-zero greenwashing.”

If RBC takes over the greener HSBC Canada it will remove sustainable choices from the marketplace. In a world where consumers and citizens increasingly make decisions based upon the climate impact of the products and services they consume, the loss of competitive pressure to improve climate and environmental performance in financial services is a growing problem.

Further, the loss of a competitor moving to phase down its support for fossil fuels to one that is increasing it will serve to further consolidate Canadian investment into an area at risk of becoming stranded, worsening the level of climate risk in our national economy.

There are numerous other reasons to reject this proposed transaction due to its negative impacts on mortgage rates, affordable housing and cost of living. RBC has also demonstrated significant cases of mistreatment of Indigenous Peoples and lacks meaningful policies to address the Free, Prior, and Informed Consent of Indigenous Peoples.

Commissioner Boswell has publicly stated that “climate change may be the greatest market failure we have faced.” We therefore urge you to consider the impacts of this proposed acquisition on diminished competitive pressure on green financial choices and increased climate risk, and to reject the proposed acquisition of HSBC Canada by RBC.

Sincerely,

  • Environmental Defence Canada
  • Stand.Earth
  • LeadNow
  • Climate Action Network Canada
  • Banking on a Better Future
  • Friends of the Earth Canada
  • For Our Kids
  • Re_Generation
  • 350.org Canada
  • Coalition Sortons la Caisse du Carbone
  • Decolonial Solidarity
  • Gidim’ten Checkpoint
  • West Coast Environmental Law
  • Shift: Action for Pension Health and Planet Wealth

Representing over 1,325,000 Canadian supporters 

The above letter was delivered to the head of the Competition Bureau, as well as submitted to the Minister of Finance and Minister for Climate Change and Environment on May 25, 2023.

May 11, 2023

RBC CEO named one of 7 top “Climate Villains”

In a new campaign launched today, national environmental organization Environmental Defence included RBC’s CEO Dave McKay on their list of the top people most responsible for blocking progress on solving the climate crisis.

What do the CEO of Imperial Oil, the head of RBC bank and the head of Big Oil’s biggest lobby association, the Canadian Association of Petroleum Producers, all have in common?

They’re all committed to using their power to block climate action in order to profit personally from more oil and gas production. And they’re preventing efforts to build a healthy, equitable world beyond fossil fuels.

That makes them three of Canada’s top ‘climate villains’.

That’s why we’ve included them in our brand-new campaign that names and shames the key players in the fossil fuel industry who are guilty of fueling climate chaos and the tactics they use to greenwash and misinform us all.

The website puts the “focus on key individuals – by pulling back the curtain on seven of the most influential players behind Canada’s oil and gas industry who are truly to blame for the climate crisis and revealing the strategies they employ.”

In adding a bank CEO to a list filled with oil industry leaders and PR hacks, it says:

The list also includes Dave McKay, the CEO of RBC (aka Mr. Money Bags). In 2022, RBC provided more financing to oil and gas companies than any other bank in the world. RBC talks a big game about climate action and “net zero” but since the Paris Agreement was signed in 2015, RBC has poured nearly $350 billion dollars into climate-destroying fossil fuel companies.

Check out the website and meet the other climate villains at ClimateVillains.ca.

May 11, 2023

Chatelaine disses RBC over climate, Indigenous rights harms

Chatelaine calls itself as “Canada’s largest women’s brand” and its lifestyle magazine has been a stalwart of the Canadian media industry since the 1920’s. That’s why it’s a big deal to see them bring the message about RBC’s harmful investments in fossil fuels and projects that harm Indigenous people’s to hundreds of thousands of people.

In an article published today called “I switched to a credit union to help fight climate change” the authour says:

It turns out that Canada’s “big five” banks—that includes RBC as well as TD, Scotiabank, BMO and CIBC, in declining order of how much money they make—are big investors in fossil fuel projects. In 2022, out of all the world’s banks, RBC was the largest investor in fossil fuels on Earth.

If, like me, you believe we need to transition off fossil fuels ASAP to avoid the worst effects of climate change—which, let’s be honest, are already getting bad—these numbers might not make a lot of sense. Yes, some of that money helps create jobs and goes into local economies. But at what cost?

She was also savvy in response to RBC’s self-interested greeenwash:

To get their perspective for this article, I got in touch with RBC’s communications department and asked if I could speak with someone about their policies on fossil fuel investment. Instead, I received a reply to my questions via an email. The gist: Don’t worry, climate change is a big deal but RBC is on it, and while we’re aiming for net-zero eventually, and we’re investing in clean energy, we need fossil fuels to fill the gap.

“The transition will not happen overnight—without risking significant harm and disruption to lives and livelihoods.”

I mean, sure. I agree that cutting fossil fuel use down to zero tomorrow would cause chaos. But if you ask me, RBC really seems to be trying to have its cake and eat it too…thanks to our rampant and still-growing fossil fuel use, climate change is already causing significant harm and disruption to lives and livelihoods—and they’re costly, too.

She also covered the importance of the Indigenous-led divestment movement and their demands for RBC and other banks to recognize the Free, Prior and Informed Consent (FPIC) of Indigenous Peoples to this work:

Free, prior and informed consent sounds like a small ask, but time is money, after all, and we’re talking about a business culture that loves the phrase “it’s better to get forgiveness than permission.” The trouble is, forgiveness is one thing, but a damaged and polluted ecosystem is another. If you break someone’s car, or computer, or couch, you can replace it. You can’t say the same for a river or a forest.

What Gray and her colleagues at ICA are pushing for is Indigenous divestment, which she defines as very similar to fossil fuel divestment. “Environmental protections are only a small part of the issue,” she says. “It’s one thing to build a park instead of a mine. It’s another thing to not criminalize Indigenous people for being on our own territories, and to not displace Indigenous peoples for protecting our waters and lands against a pipeline without opportunity.”

Read the full article on the Chatelaine website.

April 29, 2023

What you accomplished – grassroots update

It’s been three weeks since the RBC AGM in Saskatoon and the national Fossil Fool’s Day mobilization the weekend prior. Here’s an update to all of our amazing grassroots leaders on what we’ve just pulled off.

We went from 8% of shareholder support to … 26%

At last year’s RBC AGM, a single resolution called for the bank to clarify its definition of sustainable finance. It got 8% of the vote.

But this year, a resolution calling for RBC to respect the right to free, prior, and informed consent garnered 26% of support.

A resolution calling for RBC to implement real emissions reductions targets achieved 16% support; and calls to stop fossil fuel expansion achieved 6.5%.

In terms of shareholder votes at an AGM, anything approaching 20% is considered a “controversial result, because over 90% of shareholders usually toe the company line.” We did that – our actions over the last year nearly tripled opposition within RBC’s shareholder base. And that’s not all…

Millions of Canadians were exposed to national media reports about RBC’s record for five days straight

When we started on this campaign, the dominant view was that Canadian media would not cover national mobilizations.

Amazingly, on Saturday April 1, “Fossil Fool’s Day” was plastered across TV screens. We scored hundreds of media hits across this country, including amazing local ones, even landing an 8pm interview for the amazing Wet’suwet’en leader Eve Saint on CTV National News!

The following day, the Canadian Press released an article with the headline reading that banks were under pressure from shareholders. And things were only beginning.

Then on the Monday, as our delegation arrived in Saskatoon, Grand Chief Stewart Phillips published an op-ed in the Toronto Star inciting banks to respect FPIC. Then, on Tuesday, Global News disclosed how RBC had arranged ‘sustainable’ funding for a notorious German coal company! On the day of, Grand Chief Stewart Philips appeared on two national shows, Power Play and Power & Politics. Even a rightwing columnist couldn’t help but to tell our side of the story…

The other side’s ugly side

But there is more to the Saskatoon RBC AGM story than media or investor turnout. Here, the story forks and splits between beauty and ugliness.

This video by Dayna Reggero shows solidarity, emotion, a gathering of many incredible Indigenous and BIPOC leaders convening to take part in ceremony, discuss land, and financing of land theft.

This video by World Change Media captures callous, racist, and unprofessional behaviour by RBC who segregated Indigenous and BIPOC delegation to another room.

RBC’s behaviour, RCMP presence and snipers on the roof, the vile attacks on Wet’suwet’en governance had a profound and difficult impact on Land Defenders and ourselves.

We rise above it. On his way home, Chief Na’Moks wrote us the following message to be shared:

Even with the violent, racist acts and threats of RBC and RCMP, our dignity, as a whole, was maintained and apparent to the world … Please do share with all our friends and allies how very proud and honoured I am to stand with you all, all should take time for self care, it is so very unfortunate that all had experience parts of what the Wet’suwet’en experience on a daily basis, I wish it weren’t that way.

Love and respect to you all!

April 13, 2023

RBC named as world’s #1 fossil fuel financier

Released today, the 14th annual Banking on Climate Chaos report, the most comprehensive global analysis on fossil fuel banking, unveils Royal Bank of Canada as the world’s #1 fossil fuel financier in 2022. 

RBC pumped over USD$42.1 billion in 2022 in fossil fuel companies in the last fiscal year – an increase over 2021 levels. In total, since the Paris Climate Agreement was adopted in 2016, RBC has financed more than USD $253.98 billion to fossil fuel companies.

Total overall financing of fossil fuel companies by Canadian banks increased in 2022 over 2021 levels, surpassing USD $137 billion – the largest amount since before the Paris Climate Agreement was signed.

More information on Canadian Banks fossil fuel financing here.

Bank Fossil funding 2022 (USD / CAD billions) Global Annual Rank 2022 Global Annual Rank 2016 – 2021
RBC 42.1 / 54.7 1 5
Scotiabank 29.5 / 38.4 7 9
TD 29.0 / 37.7 8 10
BMO 19.3 / 25.1 13 15
CIBC 17.9 / 23.3 14 19
TOTAL 137.8 / 179.2

 

Public pressure is mounting on RBC – Canada’s, and now the world’s – #1 fossil fuel financing bank, to stop funding fossil fuel expansion and ramp up investments in climate-safe solutions.

At its Annual General Meeting (AGM) in Saskatoon just last week, RBC proved it has no interest in Indigenous reconciliation, furthering corporate colonialism in how the bank treated the Indigenous and Black delegation. The bank opted to apply a reserve system to its AGM, forcing Indigenous and Black delegates into a second class room, with color-coded passes.

Outside the AGM, hundreds of Indigenous water protectors, young people, and allies rallied. RBC’s AGM comes weeks after a large force of RCMP C-IRG raided a Gidimt’en village site, and arrested five land and water defenders, mostly Indigenous women. Days earlier, thousands of people took action for Fossil Fools Day at over 40 actions outside RBC branches across so-called Canada.

The day before its AGM, just as RBC re-packaged existing staff into a new climate institute to do “thought leadership” on climate, reports revealed that RBC helped arrange US$5.4B of ‘sustainability-linked’ financing for a coal mine operator in Germany, and traditional owners lodged a human rights lawsuit against 12 banks – including RBC – for involvement in a $4.7 billion gas project in Australia.

Despite net-zero commitments and public rhetoric, RBC continues to finance fossil fuel expansion, including bankrolling dangerous projects that attack Indigenous sovereignty, like the Coastal GasLink fracked gas pipeline without consent from Wet’suwet’en Hereditary leadership. Many of RBC’s oil and gas clients increased overall emissions in 2022.

RBC is currently under investigation by the Competition Bureau of Canada for allegedly misleading consumers with climate-related advertising while continuing to increase financing for coal, oil and gas.

The report and RBC’s new role as the world’s worst bank on climate was covered by over 500 global media outlets, including:

Fossil Fuel Sector Trends (in USD)

Expansion: The 60 banks profiled in this report funneled $150 billion in 2022 into the top 100 companies expanding fossil fuels, including TC Energy, TotalEnergies, Venture Global, ConocoPhillips, and Saudi Aramco.

Liquefied Natural Gas (LNG): The top bankers of liquefied “natural” gas (LNG) in 2022 were Morgan Stanley, JPMorgan Chase, Mizuho, ING, Citi, and SMBC Group. Overall finance for LNG nearly doubled from $10.8 billion in 2021 to $21.3 billion in 2022.

Tar sands oil: The top tar sands companies received $21 billion in financing in 2022, led by the biggest Canadian banks, who provided 89% of those funds. TD, RBC, and Bank of Montreal top the list.

Arctic oil and gas: Chinese banks ICBC, Agricultural Bank of China, and China Construction Bank led financing for Arctic oil and gas, which totaled $2.9 billion for the top companies in this sector in 2022. 26 banks are still financing Arctic oil and gas, including U.S. banks JPMorgan Chase, Citi, and Bank of America.

Amazon oil and gas: Spanish bank Santander leads financing for companies extracting in the Amazon biome, followed closely by U.S. bank Citi. Financing totaled $769 million in 2022.

Fracked oil and gas: Finance for the fracking companies totaled $67.0 billion dollars in 2022, which is an 8% increase over the financing reported in 2021 for the top fracking companies. This increase is especially disturbing given the extreme methane emissions from fracking. RBC and JPMorgan Chase are the top financiers of fracked oil and gas for 2022/since Paris.

Offshore oil and gas: European banks BNP Paribas, Crédit Agricole, and Japanese bank SMBC Group top the list of worst financiers of offshore oil and gas for 2022. Financing totaled $34 billion in 2022.

Coal mining: Of the $13.0 billion in financing that went to the world’s 30 largest coal mining companies, 87% was provided by banks located in China, led by China CITIC Bank, China Everbright Bank, and Industrial Bank.

Coal power: Of the financing to the world’s top 30 companies in coal power, 97% of financing was provided by Chinese banks. These companies, which have plans to expand coal power capacity, received $29.5 billion from the profiled banks in 2022.

Full data sets – including global press materials, fossil fuel finance data, policy scores, and stories from the frontlines – are available at bankingonclimatechaos.org.

April 5, 2023

RBC refuses to let Indigenous delegates into AGM in Saskatoon

RBC proved it has no interest in reconciliation, furthering corporate colonialism in how the bank treated the Indigenous delegation who arrived at the bank’s Annual General Meeting (AGM) in Saskatoon this morning as hundreds of Indigenous water protectors, young people, and allies rallied outside.

RBC’s AGM comes exactly one week after a large force of RCMP C-IRG raided a Gidimt’en village site, and arrested five land and water defenders, mostly Indigenous women. RBC is the primary financier of the Coastal GasLink pipeline, which lacks consent from Hereditary Chiefs, the rightful titleholders of the land.

Inside the AGM, a majority of the Indigenous delegation including Wet’suwet’en Hereditary leadership, Wet’suwet’en elders and youth representatives, and Gulf South representatives were barred from entering the AGM’s main room – despite having proper proxies, and threatening their arrest. An Ivey Business School student on behalf of youth-led Banking on a Better Future, as well as West Coast Environmental Law (WCEL) representatives were also barred from entering the main room to offer testimony.

The bank opted to apply a reserve system to its AGM, forcing Indigenous delegates into a second class room, with a colour coded pass.

Outside the shareholder meeting, hundreds of people rallied to urge RBC to stop greenwashing, respect Indigenous sovereignty, and phase out fossil fuel financing. There was drumming, music and statements from local groups, Indigenous delegates from across North America.

Nearly one in three shareholders supported a resolution for Indigenous Free, Prior, and Informed, Consent. While RBC executives recommended rejecting all shareholder resolutions introduced on climate action and Indigenous rights in its proxy book, these resolutions received record and growing support, including:

  • 28% — representing about CAD$25 billion: Union of British Columbia Indian Chiefs (UBCIC), introduced a resolution for Free, Prior and Informed Consent;

  • 11% — representing about CAD$10 billion: Stand.earth introduced a resolution for no financing for fossil fuel expansion;

  • 22% — representing about CAD$22 billion: The New York City Comptroller, manager of the USD$242 billion pension funds, filed a resolution for 2030 absolute emissions reduction targets for oil, gas and utility clients.

Here is Stand.Earth’s Richard Brooks with an update from inside the meeting:

Media coverage is coming in. Here are some hits

 

You can help amplify these tweets from the day:

 

Watch the press conference here: https://fb.watch/jJxJ4k4qZA/

Press release: https://stand.earth/press-releases/rbc-agm-2023-pr/

April 2, 2023

Over 40 cities rise up against RBC across Canada

Wow! Ahead of Royal Bank of Canada’s shareholder meeting this Wednesday, April 5 in Saskatoon, people across so-called Canada made a huge splash on Saturday for April 1 Fossil Fools’ Day!

This came days after federal police, the RCMP, raided a Gidimt’en village site and arrested Indigenous land defenders – mostly womxn – on bogus charges. As you may know, land defenders have been trying to stop the build out of the Coastal Gaslink fracked gas pipeline across Wet’suwet’en territory for years, delaying the project and causing huge cost overruns.

Thousands of people at over 40 actions rallied in solidarity at RBC branches including in Vancouver, Edmonton, Winnipeg, Ottawa, Toronto, Montréal, Moncton, Halifax, and more.

There were protests, lock downs and sit ins, pickets and creative rallies! Shout out to all the big organizing that everyone did. Too many groups to name here – we are so grateful for your leadership!

There were over 150 media stories including national TV and newspaper coverage and significant local media, including

This is part of a drumbeat of escalation and a brighter spotlight focused on Canada’s largest financier of fossil fuels and one of the biggest in the world – RBC.

Here’s an in-depth media story and an opinion piece on how shareholder meetings are a focus this year for climate and Indigenous rights advocates alike:

March 23, 2023

The fossil banks movement is going mainstream

Climate activists in over 100 cities across the US held boisterous rallies in front of banks this week to demand that top US lenders stop financing the expansion of the fossil fuel sector. Led by Third Act, a new climate advocacy group for Americans aged 60 and older, protesters sang songs and cut up their credit cards to send a message to big banks that it’s time to, in their words, “stop funding fossil fuels.”

The actions were covered extensively in global and US media:

 

Since 2016, the world’s largest banks have invested a combined $4.6 trillion in the fossil fuel sector, which has allowed coal, oil, and gas companies to build new fossil fuel infrastructure, according to an analysis titled Banking on Climate Chaos, prepared by Rainforest Action Network, Oil Change International, and other groups. These investments threaten the rapid transition away from fossil fuels that the Intergovernmental Panel on Climate Change says is necessary for a livable future. At the nationwide protests, customers of the largest US banks threatened to take their business elsewhere if the lenders continue to invest in fossil fuels.

Check out some of the incredible photos below:

 

March 21, 2023

RBC financing of fossil fuel expansion jumps 45%

On the same day as the latest sobering report from the IPCC made headlines around the world – with clear directives on the need to cut emissions dramatically this decade – Stand.earth released new data showing that RBC’s financing of fossil fuel expansion projects increased by alomst half last year.

RBC seeks to project an image as a positive actor on climate, but its funding practices continue to show the opposite is true. Nearly every report on climate from the IEA to the UN identifies the fact that any further expansion of fossil fuel infrastructure is incompatible with a safe, habitable climate.

The report was covered by the Financial Post:

Stand.earth says the bank’s US$10.8 billion in funding last year to expansion projects and companies working to increase oil and gas production represents a 45 per cent rise from 2021, and that it goes against both the conclusions of the latest UN climate report and RBC’s own climate commitments.

RBC has committed to reaching net zero financed emissions by 2050, and has set interim targets for 2030, but Richard Brooks at Stand.earth says the bank’s funding actions run counter to those commitments.

“It should be a trend downward, but we’re seeing the opposite happening,” said Brooks, climate finance director at the group.

The latest UN report from the Intergovernmental Panel on Climate Change also urged increased funding to climate solutions, which he said RBC is also falling short on.

The bank has committed to providing $500 billion in sustainable finance by 2025, with about $85 billion issued last year, but Brooks said the bank is still putting about $99 towards fossil fuels for every $1 they put into renewables.

Read the full story at the Financial Post.

March 7, 2023

RBC is running back to Saskatoon. So are we!

Powerful companies like RBC are held accountable to their shareholders once a year at a legally required Annual General Meeting (AGM). At these meetings, the CEO and other senior executives field questions from shareholders, and often have to respond to resolutions filed attempting to shift the company’s policy on various issues.

At last year’s AGM in Toronto, RBC executives were met with a powerful wave of resistance – so much so that they cancelled the in-person meeting the night before! This didn’t stop the Indigenous leaders and others who had travelled there to demand RBC and all Canadian banks respect Free, Prior, and Informed Consent (FPIC), stop financing the Coastal Gas Link pipeline, and phase out the financing of fossil fuel projects.

This year RBC decided to run to Saskatoon instead, perhaps thinking there would be a more oil-friendly local crowd. But climate justice matters to many people in the Prairies, and RBC can’t hide from accountability for the damage it is causing communities everywhere.

Here are some important upcoming events to help you get involved in pressuring RBC this spring

March 29 (and ongoing): RBC phone jam

April 3: 7pm EST RBC Burn Book Party: virtual call to action, leave bad google reviews for RBC and join in a phone zap to jam up RBC’s press lines in advance of the AGM.

April 4: 6:30 CT Public panel open to all – Who is financing the destruction of our land?
Wonderhub Performance Hall (950 Spadina Crescent E, Saskatoon)

Featuring:

  • Hereditary Chief Na’Moks Na’Moks is a Hereditary Chief of We’tsuwet’en. RBC is a financier of the Coastal Gaslink pipeline crossing We’tsuwet’en land.
  • Grand Chief Stewart Phillip Chief Phillip represents the Union of British Columbia Indian Chiefs (UBCIC) who has filed a resolution calling on RBC to implement Free Prior Informed Consent in their financing decisions.
  • Tara Houska Tara is a tribal attorney, land defender, environmental and Indigenous rights advocate, and founder of the Giniw Collective, an Indigenous women, two-spirit-led frontline resistance to defend the sacred and live in balance
  • Roishetta Ozane, the Executive Director of The Vessel Project and The Gulf Fossil Finance Coordinator for Texas Campaign for The Environment who will speak to RBC’s financing of LNG in the Gulf of Mexico.
  • Jesse Cardinal, the Executive Director of Keepers of the Water, a group of First Nations, Métis, Inuit, environmental groups, concerned citizens, and communities working together for the protection of water, air, land, and all living things within the Arctic Ocean Drainage Basin. She is from the Kikino Métis Settlement, where she grew up.
  • Moderated by Erica Violet Lee Erica is a poet and Native political theorist, born and raised in Saskatoon’s inner city.

April 5 – RBC AGM in Saskatoon
11 AM CET

Calling all hand drummers, dancers, & allies! You’re invited to a rally and round dance for climate justice and Indigenous sovereignty at 11 am (CST). Meet us at the Vimy Memorial Bandstand (https://goo.gl/maps/DhMrrVN5ZwJ9YgSj6). Indigenous Land & Water Protectors, including Wet’suwet’en Hereditary Chiefs, are coming to Saskatoon to attend RBC’s Annual General Meeting (AGM) at the same time as the rally. Haudenosaunee, Mi’kma’ki, Northern Alberta Nehiyaw, and Denesuline delegates will be there as well. Let’s welcome and support these visitors to treaty six, the traditional territory of the Nehiyawak, Assinaboine, Stoney, Saulteau, and Dakota, and the homeland of the Metis!

 

Past Events:

March 9:
Webinar: Canada’s big five banks are funding climate chaos and violations of Indigenous rights. Join this webinar and info-session to move your money for climate justice! Register here.

March 19:
Webinar: Join Wet’suwet’en Land Defenders to learn directly from them about their home and culture, and what we’re all fighting to defend. Register here.

April 1: #FossilFoolsDay – day of action across the country.

The RBC AGM will feature shareholder resolutions from allies in the movement, including:

  • Resolution calling on RBC to adopt science-based, absolute climate targets from the New York City pension
  • Resolution calling for an end to the financing of fossil fuel expansion by Stand
  • Resolution calling for RBC to revise its Human Rights Position Statement to reflect that in taking action to mitigate adverse human rights impacts directly linked to its business relationships with clients (as outlined in the UNGPs), RBC will inform itself as to whether and how clients have operationalized FPIC of Indigenous peoples affected by such business relationships, by the Union of British Columbia Indian Chiefs (UBCIC) and BCGEU