Today Scotiabank released its Net-Zero Pathways Report outlining its next steps regarding its net zero commitment.
Reaction quote:
“There’s nothing in these plans that will see Scotiabank reduce the tens…
Today the Toronto Dominion Bank (TD) released its next steps on its climate plan as part of its Task Force on Climate-Related Financial Disclosures (TCFD) reporting.
Summary quote:
“Unfortunately, TD…
Today the Bank of Montreal (BMO) released the next steps of its climate commitments, a week after RBC. Here is our reaction, with some high-level highlights:
"BMO moved to the…
It’s almost enough to make you think the bank doesn’t take shareholder opinion seriously. Rather than issue a specific defense of how its “sustainable investment” practices allow it to fund…
Today the Royal Bank of Canada (RBC) released the next steps of its climate plans as part of its Task Force on Climate-related Disclosures (TCFD) 2021 report.
While there are…
When is sustainable finance not sustainable finance? This sounds like a nerdy and unfunny joke, but let’s give the punchline anyway: When it’s given to companies increasing emissions during the…
Today the German group Urgewald released a bombshell of a report on coal financing, showing that banks provided loans and underwriting of US$1.5 trillion to companies on the Global Coal…
Over the past few months, we’ve engaged each of the five largest Canadian banks on their climate work. We’ve filed a few shareholder proposals, at least one of which will…
Word on the street is that the CSA Group’s transition taxonomy process has stalled out due to lack of consensus. (For background, see our earlier blog).
This is just as…
Today, the shareholder advocacy organization Investors for Paris Compliance released a set of best practices for Canadian banks to make good on their net zero pledges. Based on experience around…
Soon the Canadian Standards Association (CSA) will release its work on what’s called a “transition taxonomy,” essentially a definition-setting exercise for what kind of projects should qualify for transition financing, a branch…
Canada’s banks are coming under increasing pressure for their fossil fuel financing, among the highest in the world. But recently they joined Mark Carney’s Net-Zero Banking Alliance (NZBA) – en masse – so that’s…