As world governments and corporations push back against Putin’s aggression by pulling out of Russian business, many financial giants and investors don’t seem to have a problem propping up Putin’s war machine.
Despite Canada’s commitment to phasing out thermal coal electricity within eight years, Canadian banks are continuing to lend and invest more than USD$100 billion (CAD$127.23 billion) to coal-related companies, including in Canada, according to a new report out of Germany that tracks investment information on thermal coal from 600 financial institutions worldwide.
Earlier today Greenpeace Canada activists blocked the entrance to a downtown Toronto bank tower. They suspended climbers from fifteen foot high tripods as part of a call for Canada’s big five banks to stop funding fossil fuels and to respect Indigenous rights.
As news spread of the latest militarized RCMP invasion of Wet’suwet’en territory and the arrests of peaceful protesters and even independent media, many partners in the RBC / Canadian fossil banks campaign decided to direct their attention and resources to help with coordination and amplification of efforts led by the land defenders.