RBC Exits Major Climate Group as Canadian Banks Align with Wall Street Trends

RBC Exits Major Climate Group as Canadian Banks Align with Wall Street Trends
3 months ago

In a significant shift within the financial landscape, the Royal Bank of Canada (RBC) has announced its withdrawal from a prominent climate-focused organization. This decision comes as a broader movement among Canadian banks mirrors similar sentiments taking shape amongst major Wall Street financial institutions. The departure of RBC is not isolated but is part of a growing trend that is prompting reevaluation of commitments to environmental sustainability efforts.

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Wall Street’s Climate Club: RBC and BMO's Potential Exit Sparks Concerns

Wall Street’s Climate Club: RBC and BMO's Potential Exit Sparks Concerns
4 months ago

Recent reports suggest that major Canadian banks, Royal Bank of Canada (RBC) and Bank of Montreal (BMO), might be contemplating a withdrawal from the exclusive group of financial institutions known as the "climate club." This movement comes amid growing concerns regarding the sustainability and practicality of the stringent climate commitments that have been set forth by these financial powerhouses in alignment with global climate initiatives.

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