Peter Routledge

Environmental advocacy groups are warning federal watchdogs that RBC's potential acquisition of HSBC Canada will make the country’s banking system more vulnerable to the risks of climate change and slow action to address the crisis.

Peter Routledge, who leads the Office of the Superintendent of Financial Institutions, said Monday that while it likely won't happen this year, it's important that banks build up capital buffers this decade to guard against potentially increasing volatility ahead.