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Canadian Banks Slammed For Continued Fossil Fuel Investments: Investor pressure on financial institutions to reduce lending to the fossil fuel sector
Oil Price ^ | 11/28/2022 | Irina Slav

Posted on 11/28/2022 10:48:57 PM PST by SeekAndFind

An investor group has criticized Canadian lenders for investing heavily in fossil fuels despite the Paris Agreement, noting that all of the largest Canadian banks still need to be ready for net zero.

In a report titled Net Zero Policy Report Card, Investors for Paris Compliance graded Canada’s largest banks on several indicators, including fossil fuel investments, climate targets, and emissions reporting.

In fossil fuel investments, all banks were revealed to have increased their exposure between 2020 and 2021, by between 25 percent—TD and BMO—and 132 percent for CIBC.

According to the report, RBC invested $48.5 billion in fossil fuels last year, up 101 percent on 2020, and Scotiabank increased its exposure to the sector by 87 percent to $38 billion.

TD’s fossil fuel investments rose to $26.4 billion, and BMO’s went up to$23.5 billion. CIBC invested $27.8 billion in fossil fuels in 2021, Investors for Paris Compliance said, noting that the sixth bank under review, National Bank, had no data published on its fossil fuel industry exposure.

The report is the latest example of investor pressure on financial institutions to reduce their lending to the fossil fuel sector and focus on emission reporting and reducing measures in line with international Paris Agreement commitments.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Canada; Culture/Society; News/Current Events
KEYWORDS: banks; canada; fossilfuels; investments
This, however, stands in stark contrast with warnings, including from the IEA, that not enough is being invested in the new supply of fossil fuels, including coal, which this year saw a real renaissance.
1 posted on 11/28/2022 10:48:57 PM PST by SeekAndFind
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To: SeekAndFind

Murdering Albertans has long been a Canadian past time.


2 posted on 11/28/2022 10:51:39 PM PST by Jonty30 (You can't spell liberal without the a-hole. )
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To: SeekAndFind

hint

they are not investors


3 posted on 11/29/2022 12:59:28 AM PST by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: Jonty30

Investor groups, globalists elitists and their puppet corporations strangling the oil industry to bring about the great reset


4 posted on 11/29/2022 1:37:10 AM PST by ronnie raygun
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To: SeekAndFind

The needed money will be found.

Solar cells don’t work well in the Canadian winter.


5 posted on 11/29/2022 1:43:46 AM PST by Brian Griffin
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To: Brian Griffin

They don’t care.


6 posted on 11/29/2022 2:15:27 AM PST by Chickensoup (Genocide is here. Leftist extremists are spearhheading the Genocide against conservatives. )
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To: Brian Griffin

The oil companies could start their own pil bank.


7 posted on 11/29/2022 2:28:52 AM PST by Jonty30 (You can't spell liberal without the a-hole. )
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To: Brian Griffin

The oil companies could start their own oil bank.


8 posted on 11/29/2022 2:32:05 AM PST by Jonty30 (You can't spell liberal without the a-hole. )
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To: SeekAndFind

can someone please explain to me what the hell is wrong with fossil fuel? It is cheap, readily available, easy to use, works well, safe. What is the problem? This is a created problem.


9 posted on 11/29/2022 4:39:35 AM PST by yldstrk (Bingo! We have a winner!)
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To: yldstrk

“can someone please explain to me what the hell is wrong with fossil fuel? It is cheap, readily available, easy to use, works well, safe. What is the problem? This is a created problem.”
And virtually everyone is using it.


10 posted on 11/29/2022 4:47:06 AM PST by MulberryDraw (Stop trusting in man, who has but a breath in his nostrils. Of what account is he?)
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To: SeekAndFind

Investor pressure is a euphemism for Deep State pressure.


11 posted on 11/29/2022 4:55:12 AM PST by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: MulberryDraw

The problem isn’t fossil fuels.

It’s that a population with easy and cheap access to fossil fuel is much harder for Derp States, plural, to control.

Once you get your head around that, it all makes perfect sense.

This isn’t idiocy.

It’s not insanity.

It is EVIL.


12 posted on 11/29/2022 4:57:01 AM PST by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: yldstrk
They want us dead or enslaved.

Reducing access to energy sources, such as fossil fuels or nuclear power will help them accomplish both goals.

A large and prosperous middle-class is too difficult for them to control. That prosperity is based on low-cost energy sources. Hence the attacks on all energy sources.

"Renewable" energy sources, like solar and wind power, are bait-and-switch distractions which cannot sustain the current level of prosperity. They are too unreliable and too expensive to produce in quantities required.

A hereditary aristocracy, ruling with absolute power over an impoverished peasantry is the desired end-state.

13 posted on 11/29/2022 4:57:38 AM PST by flamberge
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To: mewzilla

Deep States...


14 posted on 11/29/2022 4:58:32 AM PST by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: SeekAndFind

Meanwhile, Alberta exists to provide crude oil. Alberta also provides jobs for Indian engineers and some African engineers as well


15 posted on 11/29/2022 5:07:51 AM PST by bert ( (KWE. NP. N.C. +12) Juneteenth is inequality day)
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To: MulberryDraw

Fossil fuels are recycling. Energy from the sun into plants becomes fossil fuel. What’s the problem with that?


16 posted on 11/29/2022 8:17:06 AM PST by keving (We the government )
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