Canadian banks are leaders in funding fossil fuel expansion, report.
"global analysis on fossil fuel banking. Endorsed by 624 organizations from 75 countries, it reveals the truth of banks’ commitments to the climate by examining their financing of the #fossil fuel industry.
For the first time since 2019, a Canadian bank is the #1 annual financier of fossil fuels rather than US bank JP Morgan Chase. Royal Bank of #Canada (#RBC) showered fossil fuel projects with $41 billion dollars in 2022, including $4.8 billion for #tar sands and $7.4 billion into fracking. Canadian banks are becoming the banks of last resort for fossil fuels, providing $862 billion to fossil fuel companies since the Paris Agreement."
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