Climate change is taking a heavy toll on the environment, society and the economy, and this can affect people’s physical, mental and financial health.

Since 1990, we’ve been taking action to protect the environment and mitigate climate change. We recognize the urgent need to act—and act fast—in response to the challenges that climate change poses.

In late 2017, we made a number of commitments toward achieving the Paris Agreement’s goal of limiting global temperature rise to below 2 degrees. These commitments included achieving operational carbon neutrality, focusing our infrastructure investments on renewable energy projects, and reducing the carbon footprint of our own investments.

We stepped up these commitments in 2019 with a new target to reduce GHG emissions under our operational control to 20% below 2018 levels by 2024. In 2020, we became the first financial institution in North America to join the Powering Past Coal Alliance and issued what NGO Reclaim Finance called one of the world’s most robust coal exit policies.

Learn more about our commitment to the climate and the environment.

In 2021, we renewed our climate strategy, aiming to achieve carbon neutrality (net zero emissions) by 2040 in our operations, procurement and lending, as well as our own investments in 3 key carbon-intensive sectors of the economy: energy, transportation and real estate.

We’ll achieve this ambitious goal through the support and engagement of all our employees, managers and directors, and through the joint efforts and progress of our partners in the financial sector and Canadian society.

Learn more about our 2040 climate strategy.