Long-time supporter Scotiabank no longer member of Canadian Association of Petroleum Producers

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The bank has came under fire from shareholders for not moving fast enough on climate change

The bank has had a long-running relationship with CAPP and was the title sponsor of the group’s annual energy symposium for many years.

Scotiabank declined to provide a reason for its exit, but confirmed in an email that it did not renew its associate membership in CAPP in 2022.At its most recent annual general meeting last month, Scotiabank came under fire from shareholders for not moving fast enough on climate change. Greenpeace activists also attempted to disrupt the meeting, criticizing Scotiabank for its membership in CAPP and its financing of the fossil fuels sector.

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