Canada’s Big Banks Still Lag on Renewable Energy Investment

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.

Between 2016 and 2024, only three of the country’s largest banks, insurance providers, investment firms and pension boards hit a 2030 International Energy Agency target of having renewable energy account for 71% of power-sector financing and investment, according to the report released Wednesday by Investors for Paris Compliance. 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 ...