Vancouver-based Ethical Funds Co has asked the country’s top five banks to develop sustainable lending policies and support a proposal designed to protect more than half of the Canadian Boreal forest region.
Ethical Funds, an asset management company with C$1.9bn of funds, has made its appeal to RBC Financial Group, CIBC, TD Bank Financial Group, Scotiabank Group and BMO Financial Group.
The company has already signed up to the Canadian Boreal Initiative, which seeks to save landmass from resource extraction.
Bank stocks are among Ethical Funds’ top 10 shareholdings.
