A majority of Canadians support investments in clean energy as opposed to dirty energy.
According to a poll conducted by Environmental Defence and Abacus Data, 71% of the 1,200 adults polled favor federal action to shift financial institutions away from oil and gas industries and toward more sustainable ones.
Canadian financial institutions invest so much money in dirty industries that they produce enough emissions to be the fifth biggest polluter in the world, according to Environmental Defence. Banks provided more than CA$1.43 trillion ($1.03 trillion USD) to dirty energy projects in 2022.
Oil and gas industries are responsible for a significant amount of planet-warming pollution, which triggers effects like exacerbated extreme weather events.
Pollution-driven fires, floods, droughts, and heatwaves increase the annual cost of living for Canadian households by CA$700 ($500 USD), according to Environmental Defense.
However, public support for these polluting entities is waning. More Americans, for example, favor expanding clean energy than dirty energy, a 2024 Pew Research Center study found.
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Some 78% and 72% of those surveyed support solar and wind power projects, respectively, while fewer than half want more fracking, drilling, and coal mining.
In Canada, opinions are similar. Previous studies from Environmental Defense found 80% of respondents desire "mandatory climate transition plans" that require their banks to align their portfolios with climate action. Another 76% favor rules against financial greenwashing.
The group's survey discovered 94% of 18- to 29-year-olds want the government to require financial institutions to move money away from dirty energy.
These policies were also most popular among those who make CA$50,000 to CA$100,000 ($36,000 to $72,000 USD) per year, which the average income in Canada (CA$59,400, $42,900 USD) falls within.
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