A parliamentary committee convened senior executives of the five major Canadian banks to discuss the environmental and climate impacts of the financial system.
The House of Commons Standing Committee on Environment and Sustainable Development has set June 13 as the appearance date for the CEOs of RBC, TD Bank, CIBC, BMO and Scotiabank, according to the meeting minutes. A subpoena is generally used to compel a person to testify after refusing an invitation.
RBC, BMO, CIBC and Scotiabank have all confirmed their CEOs will appear before the committee, while TD did not immediately respond to a request for comment.
Canadian banks have come under scrutiny for their lending practices and environmental records, including the hundreds of billions of dollars in financing they have provided to fossil fuel companies in recent years. They have set short- and long-term emissions reduction targets, but they are accused of not acting quickly enough.
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