At the 2018 annual meetings of the shareholders of banks, we presented the banks with a shareholder proposal, urging them to annually publish a short report that would allow their shareholders to assess their climate risk exposure and their contribution to the transition to a low-carbon economy. Your sustainable development and social responsibility reports are a testament to the actions taken or planned to activate a clean economy in Canada over the next few years. A December 2020 report by the Rainforest Action Network led us to question whether the proposed targets and action plans are appropriate. According to the report, RBC, TD and Scotia were among the top ten companies in the world for fossil fuel financing, providing more than $89 billion to oil companies in 2019. BMO and CIBC ranked 16th and 21st, with a total of nearly $42 billion. The steady commitment in recent years to fund fossil fuel activities is far from the kinds of behaviour that are desirable to address the alarming findings presented in the draft report published in June 2021 by the Intergovernmental Panel on Climate Change (IPCC). Much more alarming than the final report published in 2014, this draft estimates that, whatever the rate at which greenhouse gas emissions are reduced, the devastating impacts of global warming on nature and humanity, which depends on it, will accelerate and become painfully palpable well before 2050: “Life on Earth can recover from major climate change by moving towards new species and creating new ecosystems. Humanity cannot,” note the experts.  Add to this data the concerns expressed by the Governor of the Bank of Canada, Tiff Macklem, who, in a November 2020 panel discussion, said Canada needs to pick up pace on tackling climate change to avoid the economic impacts it could have on households and businesses. He called on financial institutions to better gauge the risks they face in this area. For all these reasons, it is proposed that the Bank agree to adopt an advisory vote policy with respect to its environmental and climate change action plan and objectives to check whether they meet shareholder and stakeholder expectations.