New York City pension plans are attempting to force RBC to disclose its full greenhouse gas emission targets for 2030 because the bank keeps financing fossil fuel expansion despite making net-zero pledges.
‘Wealthy oil and gas companies are using this opportunity to make their CEOs and shareholders even richer’
While most people struggle to afford the basics, executives at Canada’s oil, gas and mining companies have pocketed nearly a quarter of the extra money Canadians are spending due to inflation, according to a new report from the Canadian Centre for Policy Alternatives (CCPA).
Swedish climate campaigner Greta Thunberg on Thursday slammed corporate bigwigs meeting in Davos, Switzerland, for “fueling the destruction of the planet” by investing in fossil fuels and prioritizing short-term profits over people affected by the climate crisis.
This story was originally published by The Guardian and appears here as part of the Climate Desk collaboration.
The world’s reliance on high-tech capitalist solutions to the climate and ecological crises is perpetuating racism, the outgoing UN racism rapporteur has warned.
"It is business as usual for most banks and investors who continue to support fossil fuel developers without any restrictions, despite their high-profile commitments to carbon neutrality."
Top banks in the United States and around the world have made a show of embracing net-zero emissions pledges, portraying themselves as allies in the fight against the global climate emergency.
Canada’s financial heavyweights are trying to convince the federal government to let them keep pumping money into the oil and gas sector, using loopholes unsupported by climate science, confidential documents obtained by Canada’s National Observer reveal.
The Sustainable Finance Action Council (SFAC), whose members include representatives from Canada’s major banks, insurance companies and pension plans, was set up in 2021 to advise Finance Minister Chrystia Freeland on how to best build a sustainable finance market.
For climate activists, the term “Exxon Knew” has settled deeply into the lexicon of climate accountability, shorthand for the contradiction between the oil giant’s long campaign to publicly question climate science and its internal understanding that the science was sound.
Now, new academic research lends statistical rigor to this concept by showing that the company’s own climate projections, dating back decades, consistently predicted the warming that was to come primarily from burning fossil fuels.
