fossil fuel financing

As the world navigates an energy transition, Canada’s bankers find themselves neck-deep in oil money with a choice to make: Turn their backs on fossil fuels or keep financing the very activity threatening all life on Earth.

A string of major Canadian universities committed in 2020 to consider climate change when managing their assets. The C.D. Howe Institute took a look at how they’ve done since.

“Today is one of the highest insults I've ever received as a chief,” Wet'suwet'en hereditary Chief Namoks said Thursday after RBC cancelled the in-person portion of its meeting at the last minute. “You’ve seen the violence (on Wet'suwet'en territory); I think today's insult was bigger.”

The young climate activists behind Toronto’s action against fossil fuel financing kept their plans close to their chests this week, in part out of fears that their focus on the impact of climate chaos on marginalized people could be a target for those emboldened by the recent truck occupation.

Canada's big banks and pension funds are facing tougher questions about their financial support for the fossil fuel industry. The crystal ball remains unclear how our financial institutions will respond, writes Richard Brooks.

Canada's pension funds possess enormous power. Critics say the speed at which they embrace a transition to a green economy “makes a difference.”

The global climate justice movement focused its protest energy directly on big banks who bankroll new and expanded fossil fuel projects on Friday, with Royal Bank of Canada marked as enemy No. 1 in actions across Canada.

As far as activists are concerned, key investment numbers tell the story of a Canadian banking sector that says one thing publicly but continues to invest in fossil fuels away from the spotlight.