Canada’s biggest banks risk being ejected from UN banking club
Canada’s five largest banks all risk being kicked out of a United Nations net-zero banking club unless they can develop credible climate plans by next summer.
RBC
Untangling the relationship between fossil fuels and finance
One in five bank directors also serves on the board of a fossil fuel company, reveals an investigation by Canada's National Observer.
Canada’s biggest banks quietly prop up TMX
Canada's biggest banks are behind a controversial loan to the massively over-budget oilsands pipeline, new data reveals.
Where should climate-concerned Canadians bank?
Climate-concerned Canadians can take action against fossil fuel-funding banks by shifting their business elsewhere, writes Matt Price of Investors for Paris Compliance. But where should you take your dollars?
Canada’s banks are making net-zero pledges — and billions in fossil fuel deals
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.
Canada’s biggest banks shoot down climate resolutions at annual meetings
With annual meeting season in the rearview mirror, Canada’s largest banks can agree on one thing: they sure don’t want shareholders influencing environmental policies.
‘They pretend we don’t exist’: Wet’suwet’en hereditary chiefs insulted after RBC cancels in-person meeting last-minute
“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.”
Greenpeace throws Scotiabank a climate action party
The shareholders who show up in person to such events got an early morning dose of dancefloor bass from Greenpeace climate protesters outside Scotiabank’s annual general meeting on Tuesday.
Hollywood stars ready to cash out if RBC doesn’t break ties with Coastal GasLink
The parent company of City National Bank, sometimes referred to as the “Bank to the Stars,” is facing pressure from high-profile Hollywood actors over its financing of the Coastal GasLink pipeline in northern B.C.
As AGM season gets closer, banks signal how seriously they take climate — or not
Canada’s biggest banks are responding to climate-related resolutions, offering a peek into how seriously they take the crisis as the annual shareholder meeting season approaches.
RBC tells shareholders to look the other way
RBC has a goal to lend $500 billion worth of "sustainable financing" by 2025. Now the bank is urging shareholders to reject a proposal that would stop it from including fossil fuel companies in that target.
Canadian banks, insurance companies have poured millions into Russian oil and gas
Canadian banks, insurance companies and asset managers have pumped millions into Russian-owned oil and gas companies that have flowed into the petrostate’s war chest.
Banks’ charitable donations called a smokescreen for fossil fuel investments — and a turnoff for young customers
Canadian banks are using “strategic philanthropy” to paper over growing climate concerns in an attempt to lock in young customers for life.
Climate resolution forces RBC to reckon with greenwashing
Investors for Paris Compliance is forcing RBC to stare down a resolution that would stop it from greenwashing billions of dollars that the bank bills as sustainable.
Bank of Canada warns of costly risks if climate action is delayed
Delaying climate action leads to higher risks for Canada’s economy and financial sector, warns an analysis released Friday by the Bank of Canada and the Office of the Superintendent of Financial Institutions.