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RBC Day Of Action
October 29 @ 1:00 pm - 2:00 pm EDT
On Friday October 29 th at 1 p.m. the Peterborough Alliance for Climate Action (PACA), will hold an information demonstration outside the RBC at 401 George St. N. Everyone is invited to join this Global Day of Action against RBC’s investments in climate-destroying fossil fuels and the ongoing violation of Indigenous sovereignty.
“It’s incredible that Canadian banks think they can get away with continued fossil fuel investments at this time of climate crisis. And have they forgotten that Canada signed the United Nations Declaration on the Rights of Indigenous Peoples into law, and that failure to get free, prior, and informed consent is now illegal?” said Sheila Nabigon-Howlett, member of PACA.
RBC is the biggest funder of fossil fuels in Canada (5th in the world). It has poured over $200 billion into the oil and gas industry since the Paris climate agreement was signed five years ago. As we approach the global climate talks in Glasgow next week, climate activists, banking climate-risk experts and pension fund advisers (looking to the financial risks in not moving quickly to green energy), are speaking out. Toronto-based company Shift, which monitors pensions for climate risk, says “when banks invest in new fossil fuel projects you lock in emissions for decades to come”. Even the International Energy Agency is saying the world must stop digging out new fossil fuels – immediately!
PACA is also highlighting RBC’s reprehensible determination to finance the Coastal Gaslink Pipeline on Wet'suwet'en territory in B.C. If built, it would increase bitumen and fracked gas pipelines, creating incentives for gas companies to tap into shale deposits. It would create an “energy corridor” through some of the only pristine areas left in the entire region. In Peterborough we stand in solidarity with The Land Defenders in B.C. in proclaiming “This continued push for more pipelines is literally killing us”.