Banks: Stop Funding Climate Chaos

It’s time Canada’s banks are held accountable for their role in the climate emergency. 

This summer, Parliament will be calling on the CEO’s of Canada’s leading banks to testify about the impact that the financial industry has on our climate. If successful, these hearings could lead to new regulations that better align our financial system with our climate goals. But the banks are not on board. 

That's because our banks continue to fund activities which worsen climate change, while Canada is facing ever-increasing climate disasters. Each year, over $100 billion dollars is invested in fossil fuel projects by Canada’s banks, totalling almost $1 trillion dollars since 2016. This is happening at a time when Canada saw the worst wildfire season on record in 2023, and there’s more to come. 

Let's make our voices heard! Tell Parliament and the Environment Committee that you want these hearings to result in:

  • Accountability: Hold the CEOs of Canada’s major financial institutions to account for their extensive financing of fossil fuels, and underfunding of climate solutions.
  • No Greenwashing: Banks must be asked why, despite having made green pledges, they continue to invest in fossil fuels and fill their boards with oil and gas executives. 
  • Policy Action: Recommend policy that requires climate transition plans from financial institutions that help keep warming below 1.5-degrees. 
  • Real Climate Solutions: That shift away from voluntary sustainability measures by banks and instead recommend the implementation of strong, climate-aligned financial regulations such as the ‘Climate-Aligned Finance Act’ (Bill S-243). 

The banks are currently calling for maintaining the status quo, where voluntary measures are enough. But this would lead our economy in the wrong direction, as more of Canada’s wealth is spent on expanding polluting, carbon-intensive projects, all at a time when climate disasters are on the rise. This is our moment to change that. 

Tell Parliament: Hold Canada’s banks accountable for climate action now! 

Your message will be sent to the members of The Standing Committee on Environment and Sustainable Development at Parliament, as well as the Minister of Finance, Chrystia Freeland; NDP Finance Critic, Don Davis; and Parliamentary Secretary to the Minister of Environment and Climate Change, Julie Dabrusin. 


Environmental Defence is a leading Canadian environmental advocacy organization that works with government, industry and individuals to defend clean water, a safe climate and healthy communities.

BANKS: Stop Funding Climate Chaos 

LETTER Show/ Hide

The Honorable
MP, Victoria
Environment Critic
Taylor Roy
Adam Van