Article
Environmental sustainability is a key part of Canadian banks’ Environmental and Social responsibility efforts. Banks have established environmental policies, goals and practices that help guide their activities inside and out. Environmentally-oriented thinking is incorporated into a range of bank operations, sustainable finance and lending, green products and services and community activities.
Banks’ activities range from participation in conservation initiatives in communities across the country, to offering innovative sustainable finance and lending, and green products and services to their customers. Canadian banks also report on their activities through Sustainability and Climate Reports and are implementing well-recognized domestic and international standards and reporting frameworks.
Sustainable operations
Banks are reducing the environmental impact of their operations through energy efficiency, waste reduction, and sustainable infrastructure practices.
Sustainable finance and lending
Banks are supporting the transition to a low‑carbon economy by integrating environmental considerations into their sustainable finance offerings and lending practices.
Green products and services
Banks offer a range of products and services that empower customers to make environmentally responsible financial choices.
Community activities
Banks actively contribute to environmental sustainability in communities by funding local projects, supporting education, and encouraging volunteerism.
Visit banks' websites for examples of environmental and community initiatives:
Sustainable operations
Many banks are taking active steps to reduce the environmental impact of their day‑to‑day operations through initiatives such as:
- Reducing carbon emissions by offsetting energy use and transportation and investing in renewable energy sources
- Improving energy efficiency in buildings by using advanced heating, cooling, and lighting systems, including technologies like deep lake water cooling and motion‑sensitive lighting
- Designing, constructing, and upgrading facilities to meet green building standards
- Minimizing waste through digital documentation, use of recycled paper, and programs to reuse surplus equipment and furniture
- Supporting environmentally responsible supply chains by choosing eco‑friendly products and services
Sustainable finance and lending
Banks are advancing sustainable finance and lending through initiatives such as:
- New product offerings including Green, Social and Sustainability Bonds, Transition Bonds, Sustainability Linked Bonds and Loans, and Green loans
- Advisory services on best practices and market standards for ESG integration in corporate strategy and reporting
- Setting clear financing targets to support renewable energy and clean technology
- Creating guidelines for transactions that may impact forest ecosystems and biodiversity
- Helping clients reduce their environmental footprint, including emissions, water use, and waste
- Partnering with low‑carbon and sustainable industries to grow Canada’s green economy
Green products and services
Customers have a variety of options to support sustainability through their banking choices:
- Online and mobile banking, automatic payments, and paperless statements reduce paper use and the need for transportation
- Some banks donate to environmental charities when customers choose paperless options or use eco‑branded credit cards
- Customers can choose investment funds and platforms that focus on companies with strong environmental and social practices, including those addressing climate change
- Special loans and mortgages are available to help homeowners invest in energy-efficient upgrades or buy greener homes
- Certain banking and insurance products allow customers to offset their carbon emissions through programs like tree planting or certified carbon credits
- Banks are offering loans where the interest rate is tied to how well a borrower meets environmental goals
Community activities
Banks are committed to supporting environmental well‑being beyond their operations, contributing to communities through a range of impactful initiatives, including:
- Providing funding and sponsorships for environmental initiatives at both local and national levels
- Supporting grassroots projects such as community cleanups, tree planting, and habitat restoration
- Funding educational programs that raise awareness about climate change and environmental sustainability
- Offering grants to non‑profits and schools for green infrastructure and outdoor learning spaces
- Encouraging employee volunteerism in environmental activities, such as shoreline cleanups and sustainability drives
- Integrating environmental support as part of broader community investment and social responsibility strategies