Over 170 People Tell RBC To Get Out of the Tar Sands!

Protesters call on top tar sands financier to protect Indigenous rights and climate!

On March 3rd, more than 170 people gathered outside the RBC Annual General Shareholder Meeting in Toronto to protest the bank’s leading role in funding the contentious Alberta tar sands. People concerned with the impact of tar sands projects on First Nations, water quality and the climate came from every corner of Canada to ensure that the bank heard the message: ‘stop bankrolling the tar sands.’

Outside the shareholder meeting school children, bank customers of every age, First Nations community representatives and leading environmental groups rallied with brightly colored signs and chants. Inside the shareholder meeting, Chief Al Lameman of Beaver Lake First Nation of Alberta,Vice Chief Terry Teegee of the Carrier Sekani Tribal Council of BC, and Hereditary Chief Warner Naziel of the Wet’suwe’ten First Nation of BC addressed RBC CEO Gordon Nixon directly about the way tar sands extraction projects have jeopardized their health and their rights.

Meanwhile protesters entered the building and disrupted the meeting carrying a sign that read “Dirty Ethics, Dirty Oil” and chanting loudly in an attempt to make their voices heard!

It was a whole day of action for the whole family! In the morning protesters gave out mock bank flyers pointing to RBC’s blatant disrespect of Indigenous and Environmental rights in their financing of the Alberta Tar Sands as well as their greenwashing tactics. At the same time a pirate radio station was set up and passing cars were asked to tune in to hear a clip speaking of the Tar Sands by affected community members.

The afternoon rally saw over 170 people show up from across Ontario with signs and banners to denounce and shame RBC! First Nations representatives Cheif Al Lameman of the Beaver Lake First Nation, Warner Naziel of the Wet’suwe’ten First Nation of BC,Vice Chief Terry Teegee of the Carrier Sekani Tribal Council,Gitz Crazyboy of Athabasca Chipewyan First Nation, and Eriel Derranger of Athabasca Chipewyan First Nation addressed the crowd and lead the 170 people in a March along Toronto’s financial district, shutting down the streets and taking us right to RBC headquaters! With the help of the booming rhythms of Samba Elegua another mini rally was held and came to an end with all proclaiming: ” “Native communities under attack! We won’t stop until you act!”

“RBC has a decision to make. They can continue to align themselves with the tar sands, a project that is single-handedly compromising the climate, drinking water and the health of First Nations,” said Brant Olson of the Rainforest Action Network, which has been running a campaign to clean up RBC since its shareholder meeting last year. “Or they can lead Canada’s economy toward clean energy and socially responsible development.”

RBC is clearly feeling the public pressure over their tar sands financing. Recently, the bank convened a high-level meeting with more than a dozen international banks for a “day of learning” about the reputational risks associated with the tar sands. In addition, according to information the bank provided to RAN during a February meeting in San Francisco, RBC is currently evaluating new lending criteria that would apply to the oil and gas sector, in particular to the tar sands. However, the bank has been reticent to include Free, Prior and Informed Consent in its policy, which would ensure that First Nations communities are respected in lending practices.

“RBC’s significant financial relationship with companies pursuing tar sands development activities within our traditional territory and without consent warrants close attention,” said Chief Al Lameman of Beaver Lake First Nation. “RBC should update their policies to include a recognition of Free, Prior and Informed consent for Indigenous communities; this globally recognized concept was adopted by TD Bank Financial Group in 2007 and is endorsed by Indigenous communities across the political spectrum.”

Internationally, tar sands financing is gaining tremendous negative  An increasingly vocal group of shareholders and environmentalists turned last month’s BP, Shell and Royal Bank of Scotland annual meetings into a referendum on the oil extraction projects.

“It is unacceptable that RBC is a major financier of the Alberta tar sands, one of the most environmentally destructive projects in the world,” said Maryam Adrangi, a member of Rainforest Action Network Toronto and a lead organizer of today’s rally. “We will not stop until RBC adopts a socially responsible banking policy that includes respect for Indigenous rights and the phasing out financing for dirty fossil fuels like the tar sands.”

According to Bloomberg, since 2007, RBC has backed $16.9 billion in loans to companies operating in the tar sands, and has earned more than $132 million in underwriting fees. As a result, RBC has enabled the production of the world’s dirtiest oil. Oil extraction from the tar sands generates three times the CO2 emissions as conventionally extracted oil, and will soon make Canada the biggest contributor to global warming.

Mining oil from tar sands requires churning up huge tracts of ancient boreal forest and polluting so much clean water with poisonous chemicals that the resulting waste ponds can be seen from outer space. The health impacts to Alberta’s First Nation communities are severe, with cancer rates up in some communities as much as 400 times its usual frequency. In addition, communities living near oil refineries face increased air and water pollution from tar sands oil, which contains 11 times more sulfur and nickel and five times more lead than conventional oil.

The Rainforest Action Network campaign to Clean Up RBC has been demanding that RBC take responsibility for its lending in the tar sands by meeting basic standards set by other leading banks on Indigenous rights, water and habitat impacts and climate change.

Pictures of the day by EcoSanity.org

Pictures by Allan Lissner