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Article

29 Jan 2010

Author:
Carol Christian, Fort McMurray Today [Canada]

Royal Bank enters oilsands debate

A couple of environmental groups have singled out the Royal Bank of Canada as the most environmentally irresponsible company for its continued financing in the oilsands. However, the attempt to shame RBC was overshadowed by the sixth annual Global 100: Most Sustainable Corporations in the World ranking..., which [included RBC]... The Berne Declaration and Greenpeace awarded the bank the Public Eye Global Award for "its outstanding contributions to increasing climate change."... But RBC corporate communications regional manager Jo Ann Fraser said the bank does its best to take all factors into account and fairly consider each loan. "We lend responsibly," Fraser said. "All of our lending and investment activities all include an environmental due diligence component... She added many of the companies that are working in the oilsands are working harder to become better environmental stewards. [also refers to Canadian Association of Petroleum Producers]