Canada’s Big 5 banks — RBC, Scotiabank, TD, BMO and CIBC — have financed coal, oil and gas companies to the tune of $1.1 trillion since 2016, when the Paris Agreement came into effect. In 2021, each of those banks signed onto international net-zero banking alliances, promising to bring their greenhouse gas emissions — and the emissions from their banking clients — to net zero by 2050. Despite that promise, Canadian banks have chosen to increase funding to fossil fuel companies expanding their reserves, pushing that net-zero goal further out of reach.