Four of Canada’s Big Five chartered banks have made the Dirty Thirty list of the world’s largest coal financiers, making the country the fourth-largest lender to the global coal industry between 2018 and 2020, according to releases this week by European NGO Urgewald and Toronto-based Shift Action for Pension Wealth & Planet Health.The Royal Bank of Canada, TD Bank, Scotiabank, and BMO Financial Group bestowed nearly US$20 billion in loans to coal projects, provided nearly $21 billion in underwriting, and held investments in coal companies worth more than $42 billion, Shift Action writes, in its review of the Urgewald research.
Source: Four Canadian Banks Make ‘Dirty Thirty’ List of Global Coal Financiers – The Energy Mix
Robert Richardson 