RBC was the world's top fossil fuel funder in 2022
Despite promising to reach net-zero emissions, last year, RBC provided more money to fossil fuels than any other bank in the world.
Business
‘How dare you dismiss this?’ Indigenous, climate leaders shut out of RBC meeting room
“You have offended a high chief, Mr. McKay. I hold you personally responsible for this," Wet’suwet’en Hereditary Chief Na’Moks says, taking aim at RBC's CEO at the bank's annual shareholder meeting.
Complaint filed against oilsands alliance over ‘false and misleading’ claims
Competition Bureau Canada is being urged to investigate Pathway Alliance’s claim it is committed to net-zero greenhouse gas emissions.
Shareholders pressure Canadian banks to clean up their act
Environmental advocacy groups and allied investors are pushing some of Canada’s largest banks toward better climate action using a series of shareholder resolutions.
Risk of ‘death spiral’ for Enbridge increases: rate hike application
Fossil fuel giant Enbridge faces the risk of a “death spiral” as the energy transition to renewables unfolds, according to evidence the company filed with the Ontario regulator.
World’s seventh largest fossil-fuel-funding bank dumps oilsands financing in Canada
London-headquartered bank Barclays announced it will stop financing oilsands projects Wednesday in its annual report, marking another win for shareholder activists.
TC Energy takes $1.4-billion hit over Coastal GasLink pipeline's skyrocketing costs
Energy giant TC Energy took a $1.4-billion loss this past quarter, driven by the skyrocketing costs of the Coastal GasLink pipeline.
Canada's financial sector urged to ‘take off the blinders’ and prioritize climate change
Canada does not have adequate rules for investing in an era of climate change, according to a new analysis from a world-leading international body of financial institutions.
Enbridge plans multibillion-dollar gas expansion in Ontario — and wants customers to pay for it
Energy giant Enbridge is plotting a multibillion-dollar expansion to its gas network in Ontario that would lock the province into a fossil fuel future for decades to come.
Canada’s first deepwater oil project inches closer to development
After securing a licence for a recent discovery, Norwegian energy giant Equinor is one step closer to developing Canada’s first deepwater oil project off the East Coast.
NYC pension funds take on RBC over climate plan
RBC keeps pouring billions into fossil fuel expansion despite making net-zero promises. Now, New York City pension plans are trying to force RBC to disclose the full extent of the emissions the bank is responsible for.
Confidential documents reveal Bay Street’s attempt to greenwash Canadian regulations
Canada’s financial heavyweights are trying to convince the federal government to let them keep pumping money into the oil and gas sector, confidential documents obtained by Canada’s National Observer reveal.
Canadian company ‘misleading’ its investors in bid to build Brazil’s biggest open-pit gold mine in the Amazon, activists say
Indigenous rights and environmental advocates are targeting the company's shareholders to stop it, saying Toronto-headquartered Belo Sun has made “misleading” claims to investors about its Volta Grande project.
RBC's bid to buy HSBC Canada reveals a new front in the climate fight
A new front in the fight against climate change is emerging as Canada’s largest bank and top fossil fuel financier, RBC, plans to buy the Canadian arm of one of Europe’s top fossil fuel-financing banks, HSBC.
One year after signing onto net-zero banking alliances, RBC’s fossil fuel financing soars
A year after signing onto net-zero banking alliances designed to steer its investments to a climate-safe future, RBC continues pumping billions of dollars into fossil fuel expansion, new data reveals.