climate change

TD is the second biggest funder of the fossil fuel industry in Canada

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Tomorrow, we’re heading into TD’s big investors' meeting to deliver our giant petition calling on TD to pull the plug on funding the fossil fuel industry.

This meeting only happens once a year and TD’s top executives and biggest investors attend. This is a major opportunity to pressure TD to stop pouring money into projects that are contributing to runaway climate chaos.

We will be delivering almost 15,000 signatures but we know that if can make this petition go viral on social media, it’ll continue to pile the pressure on TD to pull funding from Big Oil projects.

Will you sign the petition and share on social media today?

Thanks for all that you do,

Amelia, Angus, Lisa, and the rest of... the SumOfUs team




A damning report released today found that TD, RBC and Scotiabank are amongst the top 10 banks in the world funding climate change through the bankrolling of fossil fuels.

Tell Scotiabank, TD and RBC to stop funding any fossil fuel expansion projects and phase out existing funding on a timeline that works with limiting climate change to 1.5 degrees.

Sign the petition

Here's a copy of the original email we sent out:

A major report released today has found that three of Canada’s largest banks, Scotiabank, TD, and RBC, are amongst the top ten banks in the world funding climate change.

The effects of climate chaos will be far worse than previously predicted. To keep global warming to a maximum of 1.5 degrees, by the year 2030, just over a decade away, governments and corporations will need to make drastic changes to reduce carbon emissions to 45% of 2010 levels. Despite the immense scope and magnitude of the climate crisis, these three Canadian banks continue to pour billions of dollars into fossil fuels -- even after the Paris Accord was signed.

But it doesn’t have to be this way -- these banks could fund clean, green energy projects instead, and stop bankrolling projects that endanger our future. It’s time for TD, Scotiabank and RBC to phase out funding in fossil fuels, and ensure that the rise in global temperature does not exceed 1.5 degrees!

Tell Scotiabank, TD and RBC to stop funding any fossil fuel expansion projects and phase out existing funding on a timeline that works with limiting climate change to 1.5 degrees.

Storms, droughts, wildfires, loss of species, climate-related poverty, widespread displacement, spreading of diseases. These are only some of the devastating, imminent effects of climate change predicted, as a harrowing 2018 United Nations report revealed.

And according to a recent report published by some of the world’s leading environmental action groups, including Rainforest Action Network, Sierra Club, Oil Change International, and Indigenous Environmental Network, the world’s largest, most powerful banks are speeding up the climate chaos. Almost two thousand companies with investments in fossil fuel extraction, infrastructure, and power, received a shocking $1.912 trillion from 33 global banks since the Paris Accord was adopted.

Although overall financing from the 33 banks has fallen slightly in the coal mining and power sectors, the 2019 Fossil Fuel Report Card revealed that global private banks have a long way to go to become “consistent with a pathway toward low greenhouse gas emissions” -- one of the Paris Accord’s directives.

It is environmentally and financially risky and unsound for Canadian banking giants TD, Scotiabank and RBC to continue to fund extreme fossil fuel projects and companies, which include the Alberta tar sands, Arctic and ultra-deepwater oil. If these banks do not start defunding these climate change businesses and comply with global requirements to limit global temperatures from rising more than 1.5 degrees, we will all pay the price.

Will you call on Scotiabank, TD and RBC to stop funding any fossil fuel expansion projects and phase out existing funding on a timeline that works with limiting climate change to 1.5 degrees?

We have heard our members loud and clear that they want us to address the harmful effects of climate change. Just this week, we asked our members whether they think SumOfUs should support the Canadian Green New Deal -- a plan to eliminate poverty and create millions of jobs while tackling the biggest threat of our time: climate change. And 91% of you said yes. We have just signed on to support some major actions this spring and summer to make sure that the Green New Deal is in Canadian discourse ahead of the Federal elections in October.

Sign the petition

Thanks for all that you do,
Amelia, Angus, Lisa and the team at SumOfUs


More information:

Banking on Climate Change report 2019, RAN, 20 March 2019
The Dire Warnings of the United Nations’ Latest Climate-Change Report, NRDC, 20 February 2019


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