A group of high school students, joined by adult supporters, protested outside of a Collingwood bank today aiming to draw attention to "fossil finance" and its impact on climate change.
While on lunch break the students marched to the local RBC branch with slogans written on recycled cardboard signs calling for an end to investments in the oil and fossil fuel industry.
Hannah Lewin, Grade 10, said she sees many banks greenwashing their lending investments.
"People should know what they're investing in," said Lewin. "They are funding oil and investing in a pipeline running through Indigenous lands, they shouldn't do that."
According to a 2021 report called Banking on Climate Chaos, authored by the Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, reclaim Finance, and Sierra Club, RBC is the highest funder of the fossil fuel industry of all the Canadian banks.
The report indicates RBC has invested $160 billion in 'fossil financing' since 2016 and the Paris Climate Agreement, which has decreased between 2016 and 2020. Those investment dollars put RBC at fifth in the world on a list of banks financing fossil fuels.
RBC has responded to questions on its fossil financing in the past, and has publicly stated it is committed to net-zero emissions in lending by 2050 and $500 billion in "sustainable finance" by 2025.
RBC is working with TransCanada Corp. to sell stakes in the Coastal GasLink Pipeline project, which has been met with mass protesting as it runs through Wet'suwet'en territory.
Findlay Nischan, a Grade 10 student from CCI who participated in the Oct. 29 day of action, said she hoped those who saw today's protest will be prompted to pause and consider their banking choices.
"Think about it, if RBC is doing this, everyone else is doing it," she said. "Maybe you should question that and ask 'do I want to support that?'"
Grade 12 student Katie McIntosh said she came to participate in the protest in the interest of her own future and the future of the environment.
"I want a future and I want the environment to stay alive," said McIntosh. "We suggest people call their banks and say the bank need to stop funding these projects or they will switch banks."
"The more people who are aware and who call their banks, the more likely it is to change," added Lewin.
The students were joined by adult supporters, teachers, and members of the Collingwood Climate Action Team.
