Canada’s biggest, most powerful, and increasingly most controversial company is trying to get even bigger. RBC – the leading funder of fossil fuels in the world as of 2022 – is trying to buy HSBC Canada.^1,2 RBC's proposed takeover of HSBC Canada would be the biggest bank merger in Canada's history.

This deal will give Canada’s dirtiest bank more money to fund climate chaos and undermine reconciliation. It will further increase the costs of mortgages, rents, and credit cards, making life even more unaffordable. If approved, this takeover will leave Canadians with fewer choices and put climate solutions further out of reach, undoing the historic climate commitments HSBC has already made to stop funding oil and gas expansion.³

RBC’s acquisition can only go through with the government’s approval. And that means we can stop this takeover. The Minister of Finance, Chrystia Freeland, will make the final decision. And right now, the Department of Finance is seeking public comments on the merger until the updated deadline of July 21st. They want to know "whether the proposed acquisition is in the best interest of the financial sector" – and they need to hear from us that it's not. If you think RBC’s rising investments in toxic pipelines and fracking pose a threat to the climate, now is the time to voice your opposition to this merger. Submit your comments to the Department of Finance before July 21st.