![]() ![]() The annual Banking on Climate Chaos report shows the bank’s funding between 20 put it as the fifth-largest fossil fuel funder but 2022 was the first year it provided the most money.Īccording to the data, Scotiabank ranked ninth globally last year with US$29.5 billion in funding and TD was just behind it at about US$29 billion, while Bank of Montreal ranked 15th and CIBC 16th at US$19.3 billion and US$17.9 billion respectively.Īt RBC’s annual shareholder meeting last week, chief executive Dave McKay emphasized the importance of energy security and an orderly transition away from fossil fuel funding as he defended the bank’s funding and climate record.Įnvironmental advocates have been pushing banks to phase out fossil fuel funding as a way to make it harder to build new oil and gas projects and to accelerate the transition to net zero emissions.Īn independent expert panel is set to release recommendations to reform the Thunder Bay Police Service and the board overseeing it, following calls for more Indigenous representation in top positions. Here is what’s on the radar of our editors for the morning of Thursday, Ap…Ī report from a coalition of environmental groups shows that Royal Bank of Canada was the biggest fossil fuel financier in the world last year after providing over US$42 billion in funding. In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Free Press 101: How we practise journalism.
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