Banks are at the heart of our economy. Through the investment and financing choices they make, they shape our society. By providing financial support to fossil-fuel companies or projects, banks are responsible for greenhouse gas emissions (GHGs). RBC, TD, Scotia, BMO, and CIBC are all among the top 25 financial backers of the fossil fuel industry worldwide. Since the Paris Agreement, these five banks have continued to support the development of polluting companies. The federal government is committed to reducing GHGs by 40% to 45% below 2005 levels by 2030. Some suggest that, in order to achieve carbon neutrality by 2050, short-term intermediate targets should be higher at the beginning than at the end, i.e., up to 25% for 2025 and 50% for 2050, or even more. The International Energy Agency (IEA) is even urging governments to stop investing in fossil fuels at all. In all cases, it’s important to set targets based on science. There are standards for exactly that purpose, including those of the Science Based Targets initiative (SBTi). Canada accounts for 2% of global emissions (but less than 0.5% of the global population), and its oil and gas expansion is currently projected to deplete up to 16% of the global carbon budget. The IPCC recently sounded the alarm again, and Antonio Guterres declared that greenhouse gases are “choking our planet.” A concrete transition plan on climate change is urgent. It must be submitted to Shareholders in the most appropriate annual publication.