CIBC
#3 in the world for tar sand financing.
Your bank is failing on climate responsibility.
Your bank is one of the 60 biggest funders of fossil fuels in the world*. In the 8 years since the Paris Agreement, the banks in this category have funneled $6.9 trillion into coal, oil, and gas, rapidly accelerating the climate crisis.
While you’ve been stashing away money for a car or a weekend getaway, CIBC has been using your savings to lend to some very questionable fossil fuel friends.
And it's not just a little here and there, we’re talking about $135 billion in the 9 years since 197 countries agreed to drastically reduce their greenhouse gas emissions in the Paris Agreement.
In fact, CIBC enables the pumping of more money into the fossil fuel industry now than it did in 2016, when the Paris Agreement came into force.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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