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.

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Latest Press Releases and Blogs

RBC Day Of Action Oct 29
29, Oct 2021
Thousands of Canadians across the country are today protesting Canada’s largest bank, RBC, which refuses to stop financing fossil fuels....
Excerpt Image that reads 'Divestment Works'
26, Oct 2021
Institutions representing an unprecedented total of $39.2 trillion worth of assets have now committed to some form of fossil fuel...
Divest Coastal Gas Link
19, Oct 2021
The Gidimt’en Checkpoint from the Wet’suwet’en Nation — the same Nation whose protests sparked rail blockades across Canada in 2020 —...