How big banks buy goodwill and greenwash through sponsorships
Banks are everywhere in our communities. They fund all kinds of activities and programs – from arts festivals and sports teams to youth employment and mental health services. But there’s a tension between what banks say and what they do.
Canada’s five biggest banks – RBC, TD, BMO, CIBC and Scotiabank – are all among the top financiers of oil and gas in the world. Together, they’ve invested over $1 trillion in oil and gas since Canada signed the Paris Agreement in 2016.
Think about what could be done with that $1 trillion if the banks focused on a clean energy transition and climate resilience!
Learn more about banks and climate change
Parents are questioning if the institutions bankrolling heavy polluters should have such a strong presence in our communities. While the banks’ financial support is critical for countless community activities and programs we love and care about, we don’t want it to come at the cost of a bright, just future for our kids.
Across our network, families have submitted examples of where they’ve seen bank sponsorship and advertising in their communities, and how they feel about it. Take a look at what we’ve found so far:
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How parents really feel about bank sponsorship:
We know that it can be hard to ask questions about corporate influence, especially when our communities are so reliant on support from banks. But we think it’s a conversation worth having.
Here’s what some of our parents are saying about it:
