From 2016 to 2021, 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 57.6 billion U.S. dollars.
Leading investment banks for oil sands companies from 2016 to 2021
(in billion U.S. dollars)
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2016
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2021
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Bank financing for 30 top tar sands production companies and six key tar sands pipeline companies.
Figures before 2021 were taken from previous reports.
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Rainforest Action Network. (April 5, 2022). Leading investment banks for oil sands companies from 2016 to 2021 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 22, 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 2021 (in billion U.S. dollars)." Chart. April 5, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/
Rainforest Action Network. (2022). Leading investment banks for oil sands companies from 2016 to 2021 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 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 2021 (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Apr 2022, 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 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/ (last visited July 22, 2024)
Leading investment banks for oil sands companies from 2016 to 2021 (in billion U.S. dollars) [Graph], Rainforest Action Network, April 5, 2022. [Online]. Available: https://www.statista.com/statistics/1130549/top-bankers-for-oil-sands-companies-globally/