© Provided by The Canadian PressTORONTO — Corporate commitments to become net-zero by 2050 became so trendy this year, Canada’s big banks made them twice. First came a string of promises one by one, starting with TD Bank late in 2020 followed by the other banks throughout 2021. Pressure is certainly mounting as Canadians live through the very real effects of climate change, and activists increasingly focus their efforts on the financing behind fossil fuel production. Reducing that access to capital is key because it can make fossil fuel projects more expensive, and potentially change the balance of whether it’s more worthwhile than the lower-carbon alternatives, said Keith Stewart, senior energy strategist with Greenpeace Canada. Canadian banks have framed it more around taking a cautious, balanced approach.

Source: CBC News December 26, 2021 17:48 UTC