The Financial Post reports in its Thursday edition that Canada's big banks are more than twice as exposed to the fossil-fuel industry as their European and U.S. counterparts, according to a report from climate change think tank Influencemap. A Bloomberg dispatch to the Post says that the country's Big Five banks committed 18.4 per cent of their combined corporate lending and bond and equity underwriting to the sector in 2022, says the report. In contrast, fossil-fuel entities accounted for 7.2 per cent of overall financing among the largest banks in Europe and 6 per cent at the biggest U.S. lenders, said Daan Van Acker, program manager at Financemap, a research program run by the London-based organization. The five Canadian banks committed most of the financing to domestic oil and gas companies, the report found, with pipeline operators Enbridge and TC Energy, and oil producer Cenovus receiving a combined $61.9-billion (U.S.) in financing via the Big Five between 2020 and 2022. The report was critical of the lenders for not setting policies to exclude new oil and gas investments or to phase out the financing of thermal coal. Canada was the world's fourth-largest producer of crude and other petroleum liquids in 2022.