"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...
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...
"In the lead up to the critically important COP26 climate summit, Canada’s largest bank, the Royal Bank of Canada (RBC) inked a new deal to underwrite a CAD $1.5 billion bond for Enbridge which is currently expanding fossil fuel...
The pressure on the financial sector—banks, pension funds, insurance companies—to join the global movement to tackle the climate crisis is mounting. And the number of campaigns, both large and small, to force the financial world to do its share...
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...
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...
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,...
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...
According to the Banking On Climate Chaos 2021 report, between 2016 and 2020, (since the Paris Agreement), the world's 60 largest banks financed fossil fuels to the tune of USD 3.8 trillion. Another recent report, Fossil Assets: the New...
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...