A new BloombergNEF report reveals a troubling trend: in 2024, Canada’s top banks financed almost $145 billion in fossil fuel projects—nearly twice the $75 billion committed to renewable energy.

🔻 Only National Bank financed more clean energy than fossil fuels.
🔻 RBC quietly backtracked on plans to publish its clean energy ratio.
🔻 TD ranked lowest, with just 31 cents going to renewables for every dollar to fossil fuels.

Critics say Canada is falling behind global climate finance trends, and that voluntary net-zero commitments aren’t working.

Full analysis: https://pvbuzz.com/canadas-top-banks-favour-fossil-fuel-financing/

Canadian banks financed $145B in fossil fuels vs. $75B in renewables in 2024.
byu/team_pv inenergy



by team_pv

3 comments

  1. Still waiting to finance Canada’s FIRST military defense budget since WW2.   Hahahahahaha…

  2. Burning fuels releases Carbon Dioxide gas which helps plants grow, I don’t see the issue here ? Don’t we want lots of strong plant growth ?

  3. I guess global ratio is 2:1 in favour of renewables today but will go to 4:1 soon

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