Canadian banks have stringent investment strategies and governance to invest in responsible Canadian oil and gas companies.

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Setting the record straight on the day’s top anti-oil and gas media stories

ACTIVIST CLAIM: Stand.earth blog blames heatwave and forest fires on Canadian banks because they help finance oil and gas projects and wants them to divest.

THE FACTS: Canadian banks have stringent investment strategies and governance to invest in responsible Canadian oil and gas companies.

THE SOURCES:

Canada is burning, and our banks are fanning the flames


Here are some talking points and sources to have a reasonable conversation about Canadian banks investing in oil and gas:

  • These banks are also investing heavily in “green” energy as well. It is interesting to note that Canada’s Big 5 banks have committed to $1.25 trillion in “green” financing over the next decade.

https://www.cibc.com/en/about-cibc/corporate-responsibility/environment/sustainable-finance.html
https://www.td.com/ca/en/about-td/for-investors/economic-social-governance-reporting/
https://www.scotiabank.com/ca/en/about/responsibility-impact/climate-commitments.html
http://www.rbc.com/newsroom/news/2021/20210225-sustainable-financing.html
https://our-impact.bmo.com/wp-content/uploads/2021/03/BMO-2020-Climate-Report-2.pdf


Stories that get it right

Commentary: Government COVID relief well closure funds are not a subsidy to oil producers – David Yager

 Long-time energy executive and advocate David Yager comments on a seemingly hack job report from the Parkland Institute on the funding for well clean up promised to the industry during the height of the COVID pandemic last year. Even though 90% of the jobs target for the program is being hit, Parkland concluded it was not worth getting oil field service workers back to work.

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