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Articles on Banks

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Wearing a protective mask, a dog walker ventures out as heavy smoke from northern Alberta forest fires blankets downtown Calgary on May 16, 2023. THE CANADIAN PRESS/Larry MacDougal

Canadian financial institutions are fuelling the climate change crisis

Canadian financial institutions — banks, pension funds and private equity firms — fund the fossil fuel industry and are therefore helping fuel the climate crisis. Why won’t Ottawa hold them to account?
The Office of the Superintendent of Financial Institutions has released guidelines for financial institutions to address climate change risks. THE CANADIAN PRESS/Nathan Denette

OSFI’s new guidelines: A step toward making banks and insurers more conscious of their climate impacts

OSFI’s guidelines are a small step towards making financial decision-makers more conscious of their influence on climate outcomes, but there is still work to be done.
Silicon Valley Bank, the sixteenth-largest bank in the U.S., collapsed on March 10, 2023 after customers tried to collectively withdraw $42 billion in a single day. (AP Photo/Jeff Chiu)

What Canada can learn from the collapse of Silicon Valley Bank

The collapse of Silicon Valley Bank serves as a reminder of the importance of robust risk management, sound regulatory oversight and effective liquidity management.
Wet'suwet'en Chief Madeek reacts with his middle finger to protest the Royal Bank of Canada’s funding of the Coastal GasLink pipeline and other fossil fuel investments in Toronto in April 2022. THE CANADIAN PRESS/Nathan Denette

A Canadian senator aims to end the widespread financial backing of fossil fuels

Sen. Rosa Galvez has called for ambitious and coherent government intervention to address the risks financial institutions pose to climate. Here’s why Canadians must rally around her.

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