cover image: REDWASHING EXTRACTION - Indigenous Relations at Canada’s Big Five Banks - BY ROBERT HOULE


REDWASHING EXTRACTION - Indigenous Relations at Canada’s Big Five Banks - BY ROBERT HOULE

19 Jan 2024

How are banks responding to the rise of EDITOR Indigenous rights? Hayden King The “Redwashing Extraction” research team analyzed the role that COPY EDITOR the Royal Bank of Canada, Toronto Dominion, Scotiabank, Bank Jasmyn Galley of Montreal, and the Canadian Imperial Bank of Commerce have played 昀椀nancing resource extraction against the backdrop of their approaches to Indigenous relations more ge. [...] The construction of the Kenney Dam and subsequent Rio Tinto Alcan Mining Company’s management of the Nachako river prompted Saik’uz Free Prior and Informed Consent (FPIC) and Stellat’en to seek an injunction against the resultant harm to the Free Prior and Informed Consent is a concept most notably described in watershed, which prevented the exercise of their rights. [...] is places CIBC in step with their advice to CIBC and apparent Banks reports, with the exception the actions of the other Big Five, and lack of understanding around regalia of TD Bank, CIBC is also void of raises serious questions about the and Indigeneity. [...] accepted process between the client and (and eectively heralded by the Aected Communities of Indigenous organization as a progressive partner Peoples, and (ii) evidence of agreement is creates situations in which to communities), a proponent should between the parties as the outcome of the proponents like the Big Five Banks be expected to pay just under $20,000 negotiations. [...] on the watershed, and the potential Misdirection and misinformation Further to that, by allowing industrial infringement of rights, they ultimately continue to be the main tools for development and taking up of lands, ruled in favour of the third-party resource extraction companies including those that lie in the BRFN proponent Rio Tinto Alcan Inc.
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