Banking & You

Understanding the Commitment to Net-Zero

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Banks in Canada remain committed to strategically supporting clients in their climate transition efforts as part of Canada’s strategy to address climate change. They will continue to implement and report on their own climate strategies and plans.

Banks also understand that firm commitments are required to accelerate clean economic growth in Canada and to meet the ambitious goal of a net-zero economy by 2050 set by the Paris Agreement on climate change.

To that end, banks in Canada have pledged to implement climate action plans that set specific targets to meet the demands of this global challenge:

Financial commitments in the hundreds of billions in support of environmental and sustainable finance activities
Enhanced focus on financing and investing in lower-carbon businesses, and working with existing business customers in higher-carbon sectors to finance their transition efforts
Several banks are working on implementing the climate-related disclosures developed by the Task Force on Climate-Related Financial Disclosures
Bank-led programs and strategies to limit the carbon footprint of their own operations through concrete actions aimed at reducing greenhouse gas emissions
Issuance of green bonds to help finance new and existing green projects, assets and businesses that mitigate the risks and effects of climate change
New metrics are being developed to link environmental, social and governance (ESG) factors to bank group performance and executive pay

Visit banks' environment websites for more information: