Canada’s major banks’ support for the fossil sector grew by 70% last year, despite recognizing the need for emissions to fall, according to the flagship report.
Coastal GasLink (CGL) is a dangerous project that blatantly violates Indigenous rights, and puts our climate goals at risk.
Today, over 65 Hollywood celebrities, including Mark Ruffalo, Leonardo DiCaprio, Taika Waititi, Scarlett Johansson, Jane Fonda, Susan Sarandon, and Robert Downey Jr., released a letter to City National Bank’s (CNB) parent company, Royal Bank of Canada (RBC), demanding the immediate withdrawal of financial support for Coastal GasLink.
Today RBC released – to little fanfare, and deservedly so – an update on it’s ESG activities.
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.
This week, Greenpeace Canada released the Money Can’t Buy Our Love report with the Canadian youth-led organization Banking on a Better Future.
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.
A new report out this week by a European NGO tracks how banks continue to fund the expansion of fossil fuels, even after signing onto Mark Carney’s high profile Net Zero Banking Alliance last year.
Financial reporter Shawn McCarthy spent many years at the Globe and Mail, and has recently moved to Corporate Knights to cover sustainability issues.
The news that RBC is Canada’s #1 climate-killing financial institution is catching on across the country.