#1 in Canada for fossil fuel financing.
Your bank is failing on climate responsibility.
RBC is one of the 60 biggest funders of fossil fuels in the world*. In the 8 years since the Paris Agreement, this bank has funneled $256 billion USD into coal, oil, and gas, rapidly accelerating the climate crisis.
While you’ve been stashing away money for rent or a weekend getaway, RBC 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 $256 billion USD in the 8 years since 197 countries agreed to drastically reduce their greenhouse gas emissions in the Paris Agreement.
RBC is the number 1 financier for tar sands, and the number 8 fossil fuel financier globally in 2023, both in total investments as well as in percentage of its total assets. For fracked oil and gas and financing of fossil expansion, RBC was 'only fifth' globally, in 2023. The last few years RBC has been consistently ranking in the top 5 for arctic oil and gas, fossil fuel expansion, coal power and coal mining.
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.
Banks live and die on their reputations. Mass movements of money to fossil-free competitors puts those reputations at grave risk. By moving your money to a sustainable financial institution, you will:
Send a message to your bank that it must defund fossil fuels
Join a fast-growing movement of consumers standing up for their future
Take a critical climate action with profound effects