Left-wing students at several Canadian universities recently held “sit-in” protests at their respective RBC “OnCampus” branches, demanding that the bank stop funding a company selling products to Israel. They also cited financial support for the oil and gas sector as a grievance.
Student activists urged Canada’s largest bank to permanently close their “OnCampus” locations.
Protests took place at 14 Canadian universities earlier this month, including at the University of Ottawa, where left-wing student activists accused the bank of “profiting off colonialism.”
“RBC is profiting off colonialism, continuously funding the Coastal Gaslink pipeline without Wet’suwet’en consent. They say they care about our futures, but they are the biggest funder of fossil fuels in Canada. It’s simply insulting.” said Climate Justice Climatique University of Ottawa in a news release.
The news release alleges that RBC “has spent more than $270 billion financing fossil fuels since 2016, including funding the Coastal Gaslink pipeline, which violates the sovereignty of the unceded territory of the Wet’suwet’en nation.”
Student activists have five demands for RBC, as reported by Black Press.
- An immediate withdrawal of financial support for the Coastal GasLink and Trans Mountain pipelines.
- An immediate divestiture of financial support from oil and gas expansion projects and a gradual end to all financial support for oil and gas projects.
- A commitment to never again invest in oil and gas.
- Ceasing all financial support for the American company Palantir, which they claim sells AI surveillance technology to Israel which is then used to “criminalize” Palestinians in the West Bank.
- The immediate shut down of branches on university campuses.
A photo of the anti-RBC protest at the University of Ottawa shows participating students wearing masks and holding signs that read, among other things, “free Palestine”, “RBC funds genocide” and “stop the costal gas link.”
In a statement to True North, an RBC spokesperson said they recognize “the imperative for climate action and embrace our role as a bank that will support our clients and communities to accelerate the transition to a greener economy.”
The spokesperson also touted the bank’s Indigenous initiatives.
“RBC strives to be a leading financial institution in Canada to work with Indigenous people and communities towards reconciliation, supporting economic development, community endeavours and educational opportunities,” the RBC spokesperson said.
“We respect the inherent right of Indigenous peoples to self-determination in accordance with international and domestic law. We are actively engaging with Indigenous leaders and communities to discuss constructive ideas that reinforce reconciliation and support community healing and prosperity.”
This is not the first time that left-wing students have protested RBC’s presence on campuses.
Similar protests were held at RBC “On Campus” branches last year, with students taking issue with the bank’s oil and gas investments. At the University of Toronto, mask-wearing students even camped outside of the RBC branch.
However, what was different this year was the student’s adding of an anti-Israel agenda to the woke crusade against RBC.
