HSBC has stopped financing any new oilsands projects, as well as new oilsands-related pipeline projects. While HSBC, ING and BNP don't have as much of a presence in Canada's energy sector as the major Canadian banks do, this move does raise the question of whether others will follow. However, she does think Canada's banks will eventually follow suit, especially as more millennials rise through the ranks. "The Canadian banks provide funding across all sectors in Canada, so to pull funding for oilsands? However, it will still be a long time before Canada's energy sector finds itself at risk of losing financial backing.

Source: Huffington Post April 28, 2018 15:22 UTC