Canada’s Banks and Fossil Fuels

Canada’s five biggest banks are among the top funders of fossil fuels in the world. Since the Paris Agreement was signed in 2016, Canadian banking giants RBC, TD, Scotiabank, BMO, and CIBC have poured over $720 billion into climate-destroying fossil fuel companies -- providing the corporations most responsible for the climate crisis continued funds to grow.

With your support we can make Canada’s banking giants realize that continuing to finance fossil fuel projects is environmentally and financially risky. Instead of bailing out the Alberta tar sands or financing new coal and extreme oil projects that violate Indigenous rights, imagine our national banks as climate leaders, who are leading the charge to a future in which people and the environment matter more than profits.

When we asked our members if they thought we should take on Canada’s Big Banks, 96% of our members answered with a resounding YES. To trigger change in the whole sector, we decided to first take on Canada’s biggest fossil fuel financier - RBC.

For years, RBC has been hiding behind empty environmental promises and vague net-zero emission targets, all the while investing billions into coal, oil, gas expansion projects that often violate Indigenous rights. If enough Canadians speak out, we can force RBC to clean up its act. And if we can get RBC to move, other banks will follow.

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Canadian banks' spending on fossil fuels since 2016
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Join our campaign to hold Canadian banks accountable for their ongoing financing of fossil fuels.

Latest Press Releases and Blogs

Protest in front of RBC headquarters
07, Apr 2021
*/ /*-->*/ Photo credit: Stephanie Lake
Biggest Canadian banks
24, Mar 2021
The new Banking on Climate Chaos report reveals that Canada’s big 5 banks have poured more than C$726 billion into fossil fuels since the...
oil sands with RBC logo
24, Mar 2021
A network of groups launched “RBC Revealed” to inform Canadians, investors, and shareholders about the misleading environmental claims of...