At the 2018 annual shareholder meetings for banks, we presented the banks with a shareholder proposal inviting them to publish a brief annual report that would allow shareholders to assess their climate risk exposure as well as their contribution to the transition to a low-carbon economy. Your sustainability and social responsibility reports show the actions taken or planned to help develop a clean economy in Canada in the coming years.  A December 2020 report by the Rainforest Action Network led us to question the relevance of the proposed objectives and action plans. According to the report, RBC, TD, and Scotia were among the world’s top 10 companies 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 almost $42 billion.  The consistent financing of such operations over the past few years is far from the type of behaviour needed to address the alarming findings presented by the Intergovernmental Panel on Climate Change (IPCC) in its June 2021 draft report. This report is far more alarmist than the 2014 final report. It estimates that, regardless of the rate of reduction of GHG emissions, the devastating consequences of warming on nature—and on we humans who depend on it—will accelerate and become painfully palpable well before 2050: “Life on Earth can recover from a drastic climate shift by evolving into new species and creating new ecosystems... humans cannot,” these experts noted. Add to this the concern of Bank of Canada Governor Tiff Macklem, who, in a November 2020 speech, called for more rapid action by the country to address climate change in order to avoid the economic impacts it could have on households and businesses. He called on financial institutions to better assess the risks they face in this area. For all these reasons, it is proposed that the Bank adopt a policy of holding an advisory vote on its environmental and climate action plan and objectives, in order to verify whether they meet the expectations of its shareholders and all its stakeholders.