Dear Editor:
On Thursday April 7, a group of North Shore residents took part in a National Day of Action against financing climate destruction. We held a rally in front of the Royal Bank of Canada’s North Vancouver main branch on Lonsdale Avenue and 18th Street, handing out business cards to RBC clients that informed them that their financial institution is the fifth largest funder of fossil fuels in the world – and the biggest in Canada.
In fact, RBC has invested $262 billion dollars in fossil fuels since Canada signed the Paris Agreement. And unlike most banks, RBC actually increased their fossil fuel investments last year by $19 billion.
We're calling on RBC to put an immediate halt to ANY further fossil fuel investment, including the funding of existing projects in B.C. such as Coastal Gas Link that violate the free, prior, and informed consent of Indigenous peoples and nations.
In 2021, the International Energy Agency issued a report calling for an immediate halt to fossil fuel expansion. The choice is clear: RBC can listen to the science and help lead the way to a sustainable economy, or destroy its reputation and our ecosystem chasing short-term profits.
We are encouraging RBC clients to contact their branch manager and RBC’s CEO Dave McKay if they agree with us that divestment from fossil fuels infrastructure is a crucial part of averting a climate catastrophe.
For more information, North Shore readers can check out NoMoreDirtyBanks.com.
Sincerely,
Robyn Newton, Marcia Stephenson, Laurel Newton and Melanie Crombie
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