Canadian Bank CEOs on Trial June 13 Over Supporting Fossil Fuels

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Hi Chris, We all deserve to breathe clean air and a future that’s safe and abundant. But last month, we learned that a handful of Canadian banks have pumped nearly a trillion dollars into fossil fuels since 2016, and putting the climate solutions we know work out of our reach. But now, because you have brought so much attention to these banks over the past year, the House of Commons’ Environment Committee has summoned bank CEOs to explain their role in financing climate breakdown on June 13. The CEOs first refused to attend, and wanted to send their lobby group instead. But the committee has forced them to show up. These CEOs will do everything to dodge accountability for their dirty record of profiteering from climate chaos. These MPs must demand accountability from banks, and we must tell them to ask tough questions and hold the CEOs accountable: on their dirty energy record, on lobbying against climate action, on their greenwashing, and why oil and gas execs sit on their boards. Will you take two minutes to send a letter to MPs, urging them to ask 3 tough questions? SEND MESSAGE NOW So how bad are Canada’s banks? Canada’s Big Five – RBC, Scotiabank, TD, BMO and CIBC are among the 20 largest fossil fuel financiers in the world, according to the latest Banking on Climate Chaos report. They poured over $100 billion (USD) into fossil fuel companies in 2023 alone – during the hottest year on record. The Big Five also rank at the very bottom out of 100 global banks for financing renewable energy – all while their CEOs rake in multi-million-dollar salaries. We don’t need more deflection and greenwashing. We need accountability, real plans and real action to avoid the worst of climate chaos. I'm heading to Ottawa to attend these historic hearings. Will you help me by ensuring our MPs ask the questions we need Fossil Bank CEOs to answer? Fighting back against Big Oil and Gas and the big banks can seem like a daunting task. But this is exactly the kind of fight the Stand.earth community of more than a million people was made for. By forcing financial institutions to divest from fossil fuels, we can pave the way for large-scale, transformative change towards a renewable energy future. And it's working - by joining with frontline communities and allied organizations, we've seen banks like HSBC and Barclays begin to take climate action and big pension funds like New York State and City divest billions from fossil fuels. In solidarity, Richard Brooks (he/him) Climate Finance Director   P.S. Have you read this great piece in Canada’s National Observer that shows how Canadian banks are huge backers of fossil fuels? Check it out here!

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