Factsheet
The following sources support the key statements and statistics highlighted in RBC Revealed.
While the campaign puts the Royal Bank of Canada (RBC) in its crosshairs, all of Canada’s biggest banks – including Toronto Dominion Bank (TD Bank), Bank of Nova Scotia (Scotiabank), Bank of Montreal, and Canadian Imperial Bank of Commerce (CIBC) – back the fossil fuel industry and fund climate chaos.
Statements
RBC is Canada’s largest company.
Financial Post — Visit source (external)
And commits to “creating a positive social impact.”
RBC Website — Visit source (external)
“Climate change is one of the most pressing issues of our times.” [Dave McKay, RBC CEO, 2021]
RBC Annual Report — Visit source (external)
“RBC supports the principles of the Paris Agreement and the international goal to hold global warming to below 2 degrees Celsius.”
RBC Climate Change Position & Disclosure Statement — Visit source (external)
In 2011, RBC pledged that its oil and gas clients have “policies and processes consistent with the standard of free, prior, and informed consent” with First Nations.
Reuters — Visit source (external)
Statistics
RBC funded more than C$262 billion into fossil fuels since the Paris Climate Agreement was signed.
Rainforest Action Network — Visit source (external)
RBC financed C$14 billion of coal over the past two years. RBC is the world’s 12th largest coal lender.
Coal Exit List (Urgewald) — Visit source (external)
RBC is the world’s 5th largest fossil fuel funder and the biggest in Canada.
Rainforest Action Network — Visit source (external)
RBC is the second biggest funder of the tar sands, lending the industry C$29 billion since 2016.
Rainforest Action Network — Visit source (external)
RBC is the #5 bank in the world for financing fossil fuel expansion projects.
Rainforest Action Network — Visit source (external)
The UN says we must cut carbon pollution in half by 2030 to avert irreversible catastrophe.
United Nations — Visit source (external)
RBC continues to earn billions in annual profits, even during a global pandemic.
Rainforest Action Network — Visit source (external)