Banks are using the term "sustainable finance" too broadly and not backing up the claims with data, Investors for Paris Compliance said in its submission Tuesday to the Ontario Securities Commission and the Autorité des marchés financiers of Québec.
Environmental advocacy groups are warning federal watchdogs that RBC's potential acquisition of HSBC Canada will make the country’s banking system more vulnerable to the risks of climate change and slow action to address the crisis.
At the banks' annual general meetings, shareholders voted down resolutions urging stronger climate action despite promises to reach net zero. Is it time for federal regulators to force the banks to fall in line?
Environmental advocacy groups and allied investors are pushing some of Canada’s largest banks toward better climate action using a series of shareholder resolutions.
A new front in the fight against climate change is emerging as Canada’s largest bank and top fossil fuel financier, RBC, plans to buy the Canadian arm of one of Europe’s top fossil fuel-financing banks, HSBC.
Sun Life and Manulife have made net-zero promises but continue investing billions of dollars in fossil fuels, new data obtained by Canada's National Observer reveals.
With annual meeting season in the rearview mirror, Canada’s largest banks can agree on one thing: they sure don’t want shareholders influencing environmental policies.
Canada’s biggest banks are responding to climate-related resolutions, offering a peek into how seriously they take the crisis as the annual shareholder meeting season approaches.