We, the students and members of the University of Calgary community, call on the Students Union to divest itself of its ongoing relationship with the largest fossil fuel financier in Canada, RBC, and to divest its endowment fund away from fossil fuels. This would be in line with the stated commitment of the Students Union to sustainability, indigenous reconciliation, and its mandate to represent and advocate for student well-being.

Given the ongoing and intensifying ecological collapse caused by climate change, continued support of the Royal Bank of Canada by our Students Union is unacceptable. It directly endangers the future wellbeing and quality of life of students and faculty. RBC is the fifth largest financier of fossil fuels in the world, having lent $262 billion CAD since 2016. RBC is also the lead financier of the coastal gaslink pipeline and a lead underwriter for the Trans Mountain Pipeline, projects that violate the principles of Free Prior, and informed Consent under the United Nations Declaration on the RIghts of Indigenous Peoples.

The fossil fuel industry relies on the support of banks like RBC, and the investment from organizations like our Student’s Union. to continue the extraction that is setting us on the path toward an unlivable and deeply unjust future. RBC’s funding of fossil fuels directly threatens students' futures, with those who already face systemic oppression being most at risk due to the inequitable distribution of climate impacts and environmental pollution.

Big banks like RBC know that their reputations among young people, on whom they rely on for profits, are in jeopardy. They know that fuel investments pose a reputational risk that threatens their bottom line. This is why RBC is doubling down on securing young people’s support by opening dozens of RBC On Campuses across the country and pouring $500 million into a 10-year program to win over young people’s hearts and minds.

Therefore, we call on the University of Calgary Students Union to:

1. Issue a statement condemning RBC’s lending to fossil fuel projects, including the coastal gaslink Pipeline and Trans Mountain Pipeline and communicate these concerns to RBC.

2. Cut ties with RBC and instead start banking with a credit union, contingent on the timeframe of the lease.

3. Divest its own significant endowment away from fossil fuels