The Globe and Mail reports in its Tuesday edition that an advocacy group that seeks to hold companies to account on climate action is calling on regulators to crack down on Canada's Big Five banks, accusing them of misleading investors and the public with their sustainability claims. The Globe's Jeffrey Jones writes that Investors for Paris Compliance (I4PC) is filing a complaint with Ontario and Quebec securities commissions urging investigations into the accuracy of the banks' disclosures. It names RBC, CIBC, Scotiabank, BMO and TD, all of which have announced multibillion-dollar commitments to expanding sustainable initiatives and have set net-zero emissions targets. The charity wants the watchdogs to force the banks to disclose the true emissions impact of their sustainable-finance divisions and make clear when activities do not advance net-zero goals. It is also calling on regulators to enforce clear standards for what constitutes sustainable finance. Calling the banks' environmental, social and governance programs a "$2-trillion placebo," I4PC cited a number of equity and debt financing deals billed under the banner of sustainability that resulted in increased fossil fuel production and greenhouse gas emissions.