People walk past the Royal Bank Tower in Montreal on June 19, 2025. The Canadian Press/Christopher Katsarov
RBC and Scotiabank both say they are abandoning previously set interim emissions reduction goals they had committed to hit by 2030, calling them no longer reasonably achievable.
Both banks previously committed in 2022 to lowering financed emissions in key sectors including electricity generation, oil and gas, and the automotive industry by 2030, as part of a broader strategy for aligning their portfolios with net-zero financed emissions by 2050.
