From 2016 to 2023, oil sands companies received billions of dollars in finance from some of the worlds leading investment banks. Oil sands are a naturally occurring mixture of sand, water, fine solids, clay and bitumen. Bitumen is a heavy hydrocarbon that is tar-like in its consistency, and is extracted using varying techniques dependent on the depth of the deposits. During this time, the two main financers of leading oil sands companies were the Canadian multinationals TD and RBC. Since the Paris Agreement in 2016, combined total investment from these banks at the end of this period amounted to more than 70 billion U.S. dollars.
Leading investment banks for oil sands companies from 2016 to 2023
(in billion U.S. dollars)
Bank financing for 37 top tar sands production companies and six key tar sands pipeline companies. Figures before 2022 were taken from previous reports.
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Rainforest Action Network. (July 11, 2024). Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
Rainforest Action Network. "Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars)." Chart. July 11, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
Rainforest Action Network. (2024). Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
Rainforest Action Network. "Leading Investment Banks for Oil Sands Companies from 2016 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 11 Jul 2024, https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
Rainforest Action Network, Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/ (last visited December 30, 2024)
Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars) [Graph], Rainforest Action Network, July 11, 2024. [Online]. Available: https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
