RBC under investigation by the Canadian competition bureau

The Royal Bank of Canada is under investigation for alleged misleading advertising related to the banks commitments on climate action, while continuing to finance fossil fuel development, Canada’s Competition Bureau has confirmed. 

The Competition Bureau is Canada’s federal law enforcement agency responsible for protecting consumers in Canada from companies making misleading and false statements. It recently informed the six applicants, Kukpi7 Judy Wilson, Eve Saint, Chloe Tse, Jennifer Roberge, Jennifer Cox, and Richard Brooks, supported by Ecojustice and Stand.Earth, of its decision to launch the investigation.

Our Toronto Hubs Coordinator, and one of the plaintiffs Chloe Tse, says “RBC is my bank and based on all of their messaging I thought they cared about my future too, and that they were investing in it. After looking at all the data on RBCs loans, underwritings, and investments in fossil fuel companies, I feel betrayed.”

Read the full EcoJustice press release here.