It has come to the undersigned’s attention that our industry’s premier “bank to the stars”, City National Bank (CNB), has a problem. Its parent company, Royal Bank of Canada (RBC), is financing the climate crisis and disregarding the rights of Indigenous Peoples.
Despite claiming to be a leader in climate conscious banking, since acquiring CNB in 2015, RBC has invested over $160 billion to become one of the world’s largest and most aggressive financiers of tar sands, fossil fuel extraction, and transport.
Despite claiming to “respect the inherent right of Indigenous peoples to self-determination”, RBC is now the lead financier of Coastal GasLink, a fracked gas pipeline being built through the pristine territory and waters of the Wet’suwet’en Peoples without the consent of the Hereditary Chiefs.
For over a decade,…
