Canadian Banks Going Green Still Boost Loans to the Oil Industry

Canada’s big banks may be embracing green, but that hasn’t stopped them from lending more and more money to fossil-fuel companies.

The six largest lenders had C$58.8 billion ($44.2 billion) in energy loans on their books at the end of the fiscal year, a 59% jump from five years ago, even after touting billions of dollars in climate-friendly commitments. There’s little sign of that trend abating even as oil and gas companies face increasing scrutiny over the the roles they play in climate change.

Much like their counterparts in the U.S. and globally, Canadian lenders are under pressure to show ...