RBC

Banks could implement initiatives like Portland’s Clean Energy Community Benefits Fund focusing on investing in climate action with multiple benefits for communities battling the scourge of climate change.

That's according to a regulatory filing Trans Mountain Corp. provided to the Canada Energy Regulator on Monday. It represents the latest in a series of cost increases for the high-profile project, which in 2017 was estimated to cost just $7.4 billion.

Despite pledging to play their role cutting planet-warming greenhouse gas emissions, Canadian banks have continued pumping billions into the Trans Mountain pipeline expansion project designed to help Canadian oil companies grow. Even as Ottawa says the public won't be on the hook, experts say that's precisely what will happen.