RBC’s climate retreat sparks debate over anti-greenwashing law

RBC’s climate retreat sparks debate over anti-greenwashing law

When the Royal Bank of Canada recently disclosed it was dropping some of its most important climate pledges, it pointed the blame at Canada’s anti-greenwashing legislation. Now some investors are worried the move will set off a wave of retreat from sustainability commitments at the country‘s large banks. “Investors and stakeholders are concerned about the ripple effects this action will have on the rest of the Canadian banks because we know they…

The Climate Council urges the government to quickly put the draft Climate Act on the agenda and adopt it without further delay. It has undergone extensive public consultation and interdepartmental coordination, and has been supplemented by the Climate Council's proposals.