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Bank financing of tar sands companies worldwide 2019

RBC financed tar sands companies to the tune of 6.2 billion U.S. dollars in 2019 alone. Tar sands are also known as oil sands, and are used to produce gasoline and other petroleum products. Companies involved in tar sands production received 5.7 billion U.S. dollars in financing from another Canadian bank, TD, in the same year.

Financing of tar sands companies by selected banks worldwide in 2019

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Release date

March 2020



Survey time period


Supplementary notes

Bank financing for 30 leading tar sands production companies and five leading tar sands pipeline companies were analyzed by the source.

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