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Scotiabank Underwhelms In Climate Plans

Today Scotiabank released its Net-Zero Pathways Report outlining its next steps regarding its net zero commitment. Reaction quote: “There’s nothing in these plans that will see Scotiabank reduce the tens of billions it pours into fossil fuels each year. In fact, by relying on intensity targets, the bank is allowing itself to expand this funding,…

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RBC FALLING BEHIND ON CLIMATE

Today the Royal Bank of Canada (RBC) released the next steps of its climate plans as part of its Task Force on Climate-related Disclosures (TCFD) 2021 report. While there are some positive steps, overall RBC is falling behind in its efforts by failing to set 2030 targets for carbon-intensive sectors and by omitting the majority…

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