A demonstration against the Royal Bank of Canada’s (RBC) investments in fossil fuels took place Saturday afternoon in Montreal, as part of the Fossil Fools Day campaign.
About fifty people gathered in front of the RBC offices in downtown Montreal to send a clear message to President and CEO, Dave McKay: stop investing in fossil fuels.
This event is part of a series of demonstrations taking place this month across Canada to denounce investments in fossil fuels. The campaign, which grew out of the Lead Now movement, will culminate with a rally on April 11 in Toronto, where the RBC is expected to hold its annual general meeting.
The Montreal demonstration was organized by members of the “Decolonial Solidarity” organization and relied on the convergence of struggles to send a message of solidarity.
In doing so, the organizing committee made a point of mentioning some of the local struggles, notably that of the kanien’kehá: ka kahnistensera (Mohawk Mothers).
This group launched legal proceedings against McGill and Quebec in March 2022, to demand a halt to the project to expand the McGill campus on the site of the former Royal Victoria Hospital, in Montreal, where unmarked graves could be found. .
“The RBC is closely linked to McGill University, which is actively fighting against the kanien’kehá: ka kahnistensera to prevent the discovery of unmarked graves of indigenous children at the site,” states the Decolonial Solidarity press release, distributed during of the demonstration. McGill University did not immediately respond to a request for comment.
Kahentinetha, a member of the Mohawk Mothers, gave a speech during Saturday’s rally, denouncing the consequences of colonization. She added that the whole world is looking to indigenous people to solve the climate crisis, but is not listening to the answers.
A representative of the Palestinian Youth Movement also took the floor to denounce Israel’s actions in Gaza.
“RBC is enough!” »
Speaking to the crowd, Marlene Hale, an activist from the Wet’suwet’en Nation, reiterated the urgency for action on the climate crisis. She called for Dave McKay to resign and for RBC to “find something else to invest in other than fossil fuels.”
“RBC is one of the worst banks in the world,” lamented Marjolaine Arpin, one of the members of Decolonial Solidarity, in an interview with The Canadian Press. She reiterated some of her organization’s demands, namely that this bank quickly end financing fossil fuels and invest more in renewable energies.
Research group BloombergNEF calculated in its latest report that RBC provided $0.37 in clean energy financing for every dollar spent on fossil fuels. Additionally, according to data from the most recent Banking on Climate Chaos study, published by a consortium of environmental groups, the Royal Bank of Canada would be the second largest financier of fossil fuel projects globally in 2022.
“We recognize the urgency of climate action and are embracing our role in supporting our clients and communities to accelerate the transition to a greener economy,” RBC spokesperson Jeff Lanthier said Saturday. e-mail.
He recalled the commitments that the bank recently made as part of its latest annual climate report, published in March, such as tripling financing for renewable energies to bring it to $15 billion by 2030 and allocate $1 billion to climate solutions by the end of the decade.
However, these commitments did not succeed in convincing the “Montreal Raging Grannies” group, which participated in the event in Montreal. Dressed eccentrically and singing several militant songs, the women chanted, among other things, “RBC, it’s enough!” and “Oh, RBC, we can change!” “.
“Every time we can, with songs and humor, we protest,” said Lise Bernier, 81, who has been involved in the movement for around ten years.
After the speeches, demonstrators marched across the McGill University campus to the site of the former Royal Victoria Hospital, tying orange ribbons in solidarity with the “Mohawk Mothers.”