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RBC Green Bonds May Be Used to Finance Oil Companies

  • Bulk of proceeds will go to renewable power, green buildings
  • Inaugural green issue was a 500 million euro bond last month
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Photographer: Andrey Rudakov/Bloomberg
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Royal Bank of Canada may make loans to oil and gas companies seeking to reduce their environmental impact under its recently created green bond program.

The country’s largest bank isn’t excluding fuel companies, said Lindsay Patrick, RBC’s head of sustainable financing. The loans to oil and gas firms could in the future go to projects such as carbon-capture infrastructure.