RBC biggest fossil fuel funder globally in 2022: report
The bank provided US$42 billion in fossil fuel funding last year
- By: The Canadian Press
- April 13, 2023 April 13, 2023
- 11:28
The bank provided US$42 billion in fossil fuel funding last year
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Demand exceeds supply but inflation expected to drop to 2% by 2024
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Losses were offset by gains in real estate, infrastructure and renewables
A prolonged period of slower activity is projected
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Both banks faced shareholder proposals related to environmental policy
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Manulife and Canada Life heads still saw their total compensation rise
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Businesses and consumers still expect inflation to remain above 2% until at least 2025
Other firms are rushing to set up back-office systems and internal procedures for the account
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Despite the drop in Spain and the Netherlands, core eurozone inflation remains sticky
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Firms are scrambling to set up back-office systems and internal procedures for the complex accounts
Potential changes include greater capital requirements and more aggressive regulatory supervision