Historic wildfires in Australia and the American West Coast, a record-breaking Atlantic hurricane season and unprecedented floods across China and Vietnam. The climate crisis is here.
And banks like RBC are pushing us ever closer towards catastrophe by financing fossil fuel projects like the tarsands, fracking and massively destructive pipelines.
But we know we can stop RBC. Because of your pressure, TD announced a climate action plan, committing to wind down funding to fossil fuel companies and go net-zero by 2050. Now we’re going to make RBC do the same.
Right now, we are negotiating with top executives at RBC, calling for the bank to pull the plug on Big Oil and stop funding the climate crisis. A massive petition now will force RBC to take bold action against climate chaos.
Banks all over the world, including TD, HSBC and even JP Morgan Chase, are starting to take action to reduce their impact on the climate by defunding coal, creating GHG reduction targets and committing to transitioning financing to greener, cleaner options.
And RBC risks lagging embarrassingly behind.
That’s why we need to turn up the heat now and ensure that RBC pulls the plug on the fossil fuel industry.
SumOfUs has been pushing Canadian banks to step up on the climate for years. This year we filed a shareholder proposal at TD asking the company to stop financing fossil fuel companies and it gained a historic vote that led to TD announcing a net-zero climate action plan.
We know people power can stand against even the biggest corporations and in the midst of a climate crisis we can force the Canadian banking industry to step up and stop propping up the polluting fossil fuel industry.
More information
TD Swears Off Arctic Oil Deals, Sets 2050 Net-Zero Carbon Goal
Bloomberg. 9 November 2020.
Bloomberg. 9 November 2020.
Banking on Climate Change report 2020
RAN. 11 January 2020.
RAN. 11 January 2020.