2022 Toronto financial sector greenhouse gas emissions from fossil fuel financing double Canada's total, report indicates.

A report from the Toronto Climate Observatory indicates that the financial sector's greenhouse gas emissions in Toronto are far greater than self-reported figures. In 2022, the top 18 financial institutions financed over $1.43 trillion in fossil fuels, resulting in 1.44 billion tonnes of CO2 emissions—double Canada's total emissions for the year. The findings call for enhanced accountability and transparency, as many institutions under-report their financed emissions despite commitments to achieve net-zero by 2050.

October 08, 2024
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