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Decentralized Democracy

House Hansard - 259

44th Parl. 1st Sess.
November 30, 2023 10:00AM
Context: House Hansard - 259 - Nov/30/23
Mr. Daniel Blaikie
  • Nov/30/23 10:25:51 a.m.
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Mr. Speaker, I thank my colleague for her question. I think that one very important point raised by this acquisition relates to the environment. Clearly, RBC's strategy is based on endlessly increasing its investments in industries that produce greenhouse gases. I think that is one of the major issues the government needs to consider when deciding whether to approve this acquisition. We need a clear green taxonomy for the financial industry and for institutions that truly want to start greening their portfolios beyond mere greenwashing. The government has a role to play in encouraging institutions to make green investments like HSBC does. We do not want to see an institution like this gobbled up by one like RBC, which is clearly intent on increasing the greenhouse gases in its portfolio.
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