"Despite Canada’s climate change commitments, the country’s “big five” banks continue to finance and support the expansion of fossil fuel industries," writes Donald Gutstein in a recent report: Fossilized Finance - How Canada's banks still enable oil and gas...
Carole Holmes is Co-Chair of GASP, Grandmothers Act to Save the Planet. As a grandmother she has deep concerns for the environmental health of the planet her grandchildren will inherit. In this post she tells her story about how...
Did you know that there are roughly 7.5 million grandparents living in Canada? And many, like Lorraine Green (and myself), have become climate activists, deeply concerned about the legacy we will leave our grandchildren. We know that we're in...
The 2021 Banking on Climate Chaos report is the most comprehensive analysis on fossil fuel banking produced to date. Since the Paris agreement in 2016 the Big 5 Canadian banks have funded over $700 billion in fossil fuel projects...
Despite a massive global drop in fossil fuel demand and production during the pandemic, banks’ 2020 fossil fuel financing numbers still remained above 2016 levels, and the overall trend of the last 5 years is still heading in the...
"Polluting industries are overwhelmingly represented on the boards of the UK’s banks by directors with past and current connections to high-carbon and environmentally damaging companies," reports a new DeSmog analysis "prompting concerns that the boards’ personnel pose a systemic...
Over 260 organizations are calling on banks to not finance EACOP (East African Crude Oil Pipeline) with a $2.5 billion loan for a "manifestly irresponsible" project. The Royal Bank of Canada (RBC) is one of the 25 banks nearing...
On the same day a new report showing that Canada's banks are among the 'Dirty Thirty' lenders to the global coal industry, RBC—Canada's largest bank—announced it's adding $500 billion to its sustainable financing funds while also committing to net-zero...
"Between January 2015 and September 2019, banks provided loans and underwriting of more than USD 1.7 trillion to key actors in the global plastics supply chain," notes Portfolio Earth in its recent Bankrolling Plastics report. "Banks must no longer...
Thousands of Canadians witnessed the first #FossilBanksNoThanks national action day (this past Friday) exposing the ugly truth that Canada's Big Five banks—RBC, TD, BMO, CIBC, Scotia—are financing the climate crisis. For many, it was a wake-up call. Finding out—for...