In Canada, the top 5 banks were recently questioned by a federal government committee on their investments in fossil fuels. The standing committee on environment and sustainable development heard that the banks are not prepared to limit their financing of fossil fuel projects.
Not only are Canadian banks more heavily invested in fossil fuels than their US and European counterparts, the proportion of their portfolio that finances fossil fuels has increased since 2020.
Read the detailed report from InfluenceMap to get more informed. What is your bank’s position on fossil fuel projects? If you don’t like what you find out, consider switching to a bank that is better aligned with your goals.