First Nations Bank of Canada
Your bank falls short in climate responsibility.
FNBC does not provide sufficient information on its lending activities and policies, so we cannot rule out that it lends to companies engaged in the fossil fuel industry.
We believe the risk of this is low as the majority of its commercial lending is to the governments of First Nations and the real estate sector.
We would like to see FNBC measure the greenhouse gas emissions impact of its lending, set science-based targets and put in place an explicit policy stating that it will not lend to the fossil fuel industry.
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If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
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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