2021 report shows Canadian banks provided $104bn to oil and gas funding, with RBC at 7th globally ($28.2bn) and Scotiabank 10th ($24bn).

Canadian banks directed almost US$104bn to oil and gas funding last year despite the urgent need to reduce emissions, according to the latest Banking on Climate Chaos report from a coalition of climate groups. The report revealed that RBC ranks seventh globally with US$28.2bn, while Scotiabank ranks 10th with US$24bn. Despite lower levels of oil and gas financing than in previous years, the top 60 banks committed US$708bn.

May 13, 2024
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