Sign Up for Bank Switch
Bank Switch is a campaign to pressure Canadian Banks to clean up their act and stop funding the expansion of the fossil fuel industry. We’re asking people to start with a letter or email and give the banks until Earth Day 2021 to take action. Hopefully this will trigger their ‘loss aversion’ and get things moving within their organization. If the policies your bank announces over the next few months are good enough for you, you also won’t have to deal with the hassle of actually filling out all the forms to move your money.
Why switch banks?
While university and pension fund divestment campaigns put some pressure on the fossil fuel sector, exploration and expansion will continue as long as oil companies can get banks to underwrite their new projects. The big five Canadian banks are pouring money into oil and gas exploration, including fracking and tar sands development. Since the Paris Agreement was signed, RBC has pumped $160 billion into fossil fuel companies; TD has provided $103 billion; Scotiabank $97.5 billion; Bank of Montreal $82 billion; CIBC $57 billion. In a comprehensive review of policies on fossil fuel investment and loans TD scored 3 out of 200 possible points; RBC earned 1 point and BMO, CIBC and Scotiabank earned HALF a point. To read the full report from BankTrack and the Rainforest Action Network click here.
We ask that you send a PERSONAL LETTER OR EMAIL to your home branch. This form will NOT send an automatic email to your branch, because we have no interest in knowing any of your private banking details. For sample letters visit https://climatepledgecollective.org/bankswitch-letter-templates/ .
ADD YOUR NAME to the list of those participating in the campaign using the form to the right to show the growing number of individuals collectively demanding investment toward a sustainable, equitable future. We won't share your information, but it's important for us to know how many people are participating so we can put real pressure on Canadian banks. We will send out news about any significant updates to policy at the Big Banks -- we need you to sign up because the size of this list will let the banks know how many potential new clients they can reach if they clean up their act!