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...
Fossil Banks No Thanks is the slogan—rallying cry—for a national action day targeting Canada's five Big Banks for their role in financing the climate crisis. The event, scheduled on Friday, January 29, will expose RBC as the worst Canadian...
A few days ahead of the 5th anniversary of the Paris Agreement, 18 NGOs released Five Years Lost - How Finance is Blowing the Carbon Budget. The report highlights 12 of the most devastating fossil fuel projects that are...
Since the Paris Agreement, Canada’s Big Five banks—RBC, TD, BMO, CIBC, Scotia—have financed fossil fuels over half a trillion dollars (C$641 billion) globally and in Canada they provide the lion share (70%) of the money for Tar Sands expansion...
Canada's big banks rack up huge profits each year at the expense of our climate. They are compromising the future of young Canadians by financing fossil fuel expansion. Since the 2015 Paris Agreement, the Big Five—RBC, TD, BMO, CIBC,...