Canada’s big banks still lag on renewable energy investment

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Banking,Business,Canada

Canada’s financial institutions are falling short when it comes to the investment levels in renewables needed to reach net zero emissions, according to a new report.

Benjamin Sinclair, CFA and equity analyst at Odlum Brown, joins BNN Bloomberg to discuss bank earnings for BMO and Scotiabank.

The IEA target is part of a broader pathway to limit global warming to 1.5C per the 2015 Paris Agreement, and to reach net zero by 2050. “Despite all the banks assessed having made long-term, net zero commitments in 2021, and adopted power sector-specific interim targets since, most have shown no real progress,” Investors for Paris Compliance wrote.

 

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