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Today @RBC holds its online AGM. While the #CoronaCrisis is the priority, RBC should also take responsibility for its role in the #ClimateCrisis. Let’s review the extent of this responsibility. #FossilBanksNoThanks
@RBC is the biggest dirty energy financier in Canada and ranks fifth in the world according to the latest #BankingonClimateChange report. It has provided the fossil fuel industry with USD 141 billion since #COP21, with USD 40 billion for fossil fuel expansion
@RBC is the second biggest financier of tar sands in the WORLD and thus a major contributor to #ClimateDestruction. Since #Paris, @RBC has provided USD 22 billion to the 30 top tar sands companies and the 5 key tar sands pipeline companies. #BankingonClimateChange
Just last week @RBC co-led a C$2bn bond issuance to enable TC Energy to move forward with the Keystone XL tar sands oil pipeline. A reckless decision, facilitating human rights violations and climate destruction. #KeystoneXL #NoKXL https://www.banktrack.org/article/reckless_keystone_xl_decision_by_tc_energy_endorsed_by_jpmorgan_chase_citi_and_canadian_peers
In terms of climate policies, @RBC is also not performing well. With a score of 1 out of 200 in the #BankingonClimateChange report, it is clear that RBC is not taking the #ClimateCrisis seriously. Today we are calling on RBC’s shareholders to demand ambitious climate action!
