Eighteen Toronto banks, pensions and asset managers responsible for financing emissions that are almost 2x Canada’s total emissions, nearly 100x City of Toronto’s emissions.
Toronto’s top financial institutions financed over $1.43 trillion CAD ($1.1 trillion USD) in fossil fuel companies in 2022, contributing to at least 1.44 billion tonnes of CO2 emissions- nearly twice the total emissions of Canada, and nearly 100 times the total emissions of the City of Toronto, according to a new report from the Toronto Climate Observatory, a research hub based at the University of Toronto (U of T).