RBC Exits Major Climate Finance Alliance, Following Industry Peers
2025-01-31
MSN
In a significant move, Royal Bank of Canada has announced its departure from the banking industry's largest climate-finance alliance, following similar decisions by Canadian peers Toronto-Dominion Bank and Bank of Montreal. This exit highlights the challenges banks face in balancing climate commitments with business goals, amidst growing scrutiny over sustainable finance and environmental responsibility. As climate change continues to impact the global economy, RBC's decision may have implications for the future of climate finance initiatives. With a focus on green banking and eco-friendly investments, the banking sector is under pressure to adapt to evolving environmental standards.
