Canadian banks Scotiabank and RBC have retired their 2030 interim targets for reducing financed emissions in carbon intensive sectors. The banks cited shifting public policy, energy demand, and slower technology deployment as primary reasons for the move. While RBC maintains its long term goal of reaching net zero by 2050, Scotiabank has withdrawn both its interim targets and its 2050 net zero ambition. This follows a broader trend of financial institutions pulling back from climate commitments due to political pressure and regulatory changes.
