Fossil Free RBC Launches Tip Line for Current, Former Bank Employees - Fossil Free RBC

 

Tip Line Launch Comes Ahead of RBC’s April 11 Shareholder Meeting

Toronto, Ontario, Canada (Indigenous lands of the Anishinabewaki ᐊᓂᔑᓈᐯᐗᑭ, Wendake-Nionwentsïo, Ho-de-no-sau-nee-ga (Haudenosaunee), Mississauga, and Mississaugas of the Credit First Nation Peoples) – Today, Fossil Free RBC launched a brand-new anonymous, secure Tip Line for current and former employees of the Royal Bank of Canada. 

On this launch, Batul Gulamhusein, Stand.earth Senior Digital Campaigner, said:

“This Tip Line supports our collective work to hold RBC accountable for its ongoing fossil fuel financing and the consistent human rights violations financed by the bank.”

The Tip Line launch comes as communities mobilize from coast-to-coast to hold RBC accountable at its April 11 annual general meeting (AGM) for bankrolling billions of Indigenous rights violating and climate chaos-causing fossil fuel companies. 

Thanks to relentless public pressure, RBC released its latest Climate Report last week, offering a commitment to increase low-carbon investment, but failing to acknowledge the necessary fossil fuel phase-out.

RBC is currently under investigation by the Competition Bureau of Canada for allegedly misleading consumers with climate-related advertising while continuing to increase financing for coal, oil and gas, including in extreme energy like fracking and tar sands.   

The New York City Comptroller, on behalf of several NYC pension funds, filed high-profile and novel shareholder resolutions with six North American banks. The resolution calls for a report on the banks’ financing of clean versus dirty energy. RBC is the sole Canadian bank in receipt of this resolution, with an abysmal energy ratio of 0.37:1. Bloomberg NEF, using data from the International Energy Agency, has asserted that the ratio must be 4:1. 

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