The divestment from Alberta's oilsands
As pressure mounts to address global warming, some financial institutions are grappling with whether or not to divest from the Canadian oilsands. CBC’s Kyle Bakx explains.
Last month, the New York State Pension Fund announced it was divesting more than $7 million from seven Canadian oilsands companies. The move was celebrated by some environmental groups, but it wasn't absolute: the fund kept more than $19 million in shares of Suncor, a major player in Alberta's oilsands.
Today, CBC business reporter Kyle Bakx explains why some financial institutions are choosing to divest from the Canadian oilpatch, and the complications therein.