9 - Look Up - 17 | P a g e 1 1 / 1 7 / 2 0 0 8 R E P O R T...

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Unformatted text preview: 17 | P a g e 1 1 / 1 7 / 2 0 0 8 R E P O R T : C A R B O N F O O T P R I N T O F C A N A D A ' S T O P B A N K S E X C E E D S T O T A L E N E R G Y U S E E M I S S I O N S I N C A N A D A November 19, 2008 SAN FRANCISCO—Rainforest Action Network (RAN) released a new report and website today ranking the carbon footprints of Canada’s top banks: RBC, TD, Scotiabank, CIBC, BMO, Vancity and Desjardins. Financing Global Warming: Canadian Banks and Fossil Fuels is the first report to analyze and quantify the greenhouse gas emissions of Canadian banks based on their financing of the fossil fuel sector. The report also makes recommendations for what banks, bank customers, regulators and civil society can do to help reduce the climate impacts of banking. The report finds that 99 percent of each bank’s overall climate footprint comes from the fossil fuel production it finances. The “financed emissions” from Canada’s five largest banks totaled 625 million tonnes of CO2 in 2007, exceeding the total CO2 emissions in 2006 from all energy use across the country – including all power plants, industry and manufacturing, transportation, homes and offices – which totaled 583 million tonnes . [1] The report is based on a year of research by Profundo Research, and can be found at www.climatefriendlybanking.org....
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This note was uploaded on 09/17/2011 for the course BIO 1A taught by Professor Smith during the Fall '09 term at Casper College.

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9 - Look Up - 17 | P a g e 1 1 / 1 7 / 2 0 0 8 R E P O R T...

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