Royal Bank of Canada | Phase out lending to fossil fuel projects at Royal Bank of Canada
How other organisations have declared their voting intentions
Organisation name | Declared voting intentions | Rationale |
---|---|---|
Anima Sgr | Against | While some global banks have adopted more progressive positions on financing oil and gas projects, the Canadian government's current position and signaling do not lend weight to a blanket phase-out of lending by the banks in an economy where the sector is a strong contributor to employment, and no large Canadian bank has adopted a blanket phaseout approach. Investors may want to engage with the company as it develops its methodology for its 2050 net zero goal. However, a strict policy to stop lending or underwriting fossil fuels is not industry practice; therefore, support is not warranted at this time. |
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