Posted on 11/28/2022 10:48:57 PM PST by SeekAndFind
Canadian banks are receiving backlash from investors for their continued investments in fossil fuels.
All Canadian banks were revealed to have increased their exposure to fossil fuels between 2020 and 2021, by between 25 percent - TD and BMO - and 132 percent for CIBC.
The report is the latest example of investor pressure on financial institutions to reduce their lending to fossil fuel companies.
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 ...
Murdering Albertans has long been a Canadian past time.
hint
they are not investors
Investor groups, globalists elitists and their puppet corporations strangling the oil industry to bring about the great reset
The needed money will be found.
Solar cells don’t work well in the Canadian winter.
They don’t care.
The oil companies could start their own pil bank.
The oil companies could start their own oil bank.
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.
“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.
Investor pressure is a euphemism for Deep State pressure.
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.
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.
Deep States...
Meanwhile, Alberta exists to provide crude oil. Alberta also provides jobs for Indian engineers and some African engineers as well
Fossil fuels are recycling. Energy from the sun into plants becomes fossil fuel. What’s the problem with that?
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