On the RBC Canadian Open, the Royal Financial institution of Canada below scrutiny for fossil finance and local weather hypocrisy


picture credit score: mica woo

Ho-dee-no-hundred-ni-ga (Houdenosouni), Anishinabewaki, credit score First Nation’s Mississaugas, Mississauga, Wendeck-Nianventso, so-called areas of indigenous peoples together with Toronto, Ontario, Canada – At present, Indigenous land defenders, local weather organizers and communities on the annual Canadian PGA Open introduced a transparent message on to Royal Financial institution of Canada officers: Finish fossil gas finance and put money into a climate-secure future.

Dozens of individuals gathered exterior the open studying billboards “RBC is Canada’s largest financier of fossil fuels,” “RBC funds local weather destruction,” “RBC funds Indigenous rights violations,” much more. Communities distributed viewers about RBC’s fossil gas finance as they entered the Open, and an electrical truck broadcast video actor and activist Mark Ruffalo referred to as on RBC CEO Dave McKay to finish fossil gas finance. Known as for, which is on website all day right now.

Whereas floods, fires, lethal warmth and air pollution threaten the lives and livelihoods of communities in Canada and around the globe, the Royal Financial institution of Canada continues to manage the gas for the fires. RBC is Canada’s #1 fossil financial institution and the fifth worst funder of fossil fuels on this planet for the reason that Paris Local weather Settlement was signed in 2016, funding $262 billion of coal, tar sands, oil and fuel.

Because the RBC beats its local weather commitments and defies indigenous reconciliation rhetoric, the financial institution is funding poisonous fossil gas enlargement tasks around the globe that our local weather can not afford: from coastal gaslinks and Alberta tar sands, Carbon bombs set to set off catastrophic local weather breakdown whereas trampling indigenous and area people rights – to East African crude oil and transmountain pipelines.

Confronted with the local weather disaster, United Nations Secretary-Basic Antonio Guterres lately advised the world “Investing in new fossil gas infrastructure is ethical and financial insanity.” But nothing appears to cease the RBCs from including extra gas to the hearth.

“Company colonialism at its finest is company colonialism at its finest, whereas the RCMP is harassing and surveilling First Nation leaders. It’s the accountability of every of us to develop in solidarity with indigenous land defenders. , and demand that RBC cease funding this destruction,” stated Sarah Beuehler, Stand.Earth Local weather Finance Campaigner.

RBC is rising the funding of the dirtiest fossil gas – tar sands; quietly controlling the transmountain pipeline; and selling the world’s longest proposed oil pipeline in East Africa.

Proper now in so-called British Columbia, Canada, Moist’suwet’en hereditary chiefs and indigenous land defenders are dealing with a standoff with the RBC-financed Coastal GasLink (CGL) pipeline and rising police harassment, surveillance and brutality within the area. Is. , The venture violates Moist’suwet’en rights and title, and lacks the consent of the Moist’suwet’en hereditary chiefs, who’ve been opposing the venture for a decade.

Royal Financial institution of Canada is the monetary advisor to the $6.6 billion CAD venture, with 26 banks offering extra financing. The United Nations Committee on the Elimination of Racial Discrimination (UNCERD) lately issued its third rebuke to British Columbia and Canada, calling for the police to withdraw and cease forcibly evicting moist folks.

“RBC has a possibility to actually dwell as much as its shining popularity of reconciliation and significant local weather motion,” Behler added. “Meaning pausing the Coastal GasLink pipeline, ending fossil gas finance, and reinvesting in a climate-safe economic system.”

A rising and highly effective motion is rising in solidarity with indigenous land defenders. Final month, members of the general public submitted a Competitors Bureau criticism demanding an investigation into RBC’s deceptive promoting relating to the corporate’s commitments to local weather motion to proceed to gas fossil gas enlargement.

Greater than 65+ Hollywood celebrities, a whole bunch of worldwide justice organizations and 1000’s of communities demanding RBC finish fossil gas finance. Communities are making ready to carry across the total week of the RBC-sponsored PGA Canadian Open, June 6-12.

RBC really has a possibility to dwell as much as its shining popularity of company function, indigenous reconciliation and significant local weather motion. Meaning stopping the enlargement of fossil fuels, the Coastal GasLink pipeline, and reinvesting in a climate-safe economic system and simply the transition for oil and fuel employees and communities.

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