With just a few days remaining in the 2023 Toronto International Film festival (TIFF), major industry names are already demanding change ahead of next year’s events.
More than 300 film industry members—including actor Jeremy Strong, actress Rachel McAdams, and actor and director Mark Ruffalo—have signed an open letter to TIFF requesting it drops RBC as a sponsor.
Concerns for human rights and the climate crisis are the main drivers behind the letter, which states that RBC is one of the most polluting companies in Canada due to its financed emissions.
Since 2016, US$2.5 trillion has been provided in loans and bond underwriting to energy activities by the world’s 60 largest commercial banks.
RBC alone has provided more than $54 billion in fossil fuels lending and underwriting in 2022, according to a recent report from Investors for Paris Compliance.
“It is a world-leading enabler of fossil fuel extraction, quite literally the biggest in 2022,” the open letter reads.
The letter points out that RBC has made statements purporting to champion the cause of fighting climate change, which has resulted in federal investigation for deceiving its customers.
It also shed light on the fact that multiple leading Indigenous and Black, Indigenous, and Peoples of Colour (BIPOC) organizations have publicly declared that RBC has enabled projects on their lands, failing to respect the fundamental rights of these communities.
Mark Ruffalo, who acts in All the Light We Cannot See, a mini-series which premiered at this year’s TIFF, has been vocal on Twitter to bring awareness to the issue.
In response, RBC said in a statement to the media that it would “welcome the chance to dialogue” with the film community.
“When it comes to climate change, we strongly believe that more action and at a faster pace is needed to address it,” RBC said. “We are actively engaging with our clients and partners to identify opportunities to do more in delivering on shared objectives. We are also working to engage with Indigenous communities in collectively advancing reconciliation. We appreciate the concern for our climate expressed by members of the film community and would welcome the chance for dialogue.”
