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The Canadian banks are the biggest bankers of tar sands and they all lack policies restricting their financing to this subsector. A new report reveals that the business practices of the world's major private-sector banks continue to drive us toward climate disaster. ALEXANDER JOE / AFP / Getty Images

Financial companies are increasingly being recognized — by their clients, shareholders, regulators, and the general public — as climate actors, with a responsibility to mitigate their climate impact. For the banks highlighted in this report, the last year has brought a groundswell of activism demanding banks cut their fossil fuel financing, at the same time that increasingly extreme weather events have further underscored the urgency of the climate crisis. Nevertheless, the report reveals that the business practices of the world's major private-sector banks continue to drive us toward climate disaster.

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