It announced last month it was selling off securities in seven Canadian oilsands companies and would not make future investments in them because they don't have viable plans to adapt to a "low-carbon future." At the same time, it also shows how some large financial players still see some value in backing the oilpatch. Banks are going to face the same kind of pressure in the next decade as oil companies have experienced over the last decade, he said. He has said part of the meeting will focus on how the private financial sector can "retool" so that investors take climate change into account when making financial decisions. At the same time, the group considered the ethics as climate change is an urgent problem.

Source: CBC News May 19, 2021 08:00 UTC