Real Assets Investment Management Inc. announced today it has filed shareholder resolutions calling on the Big Five banks to report on how social, environmental, and ethical issues impact their business and what they’re doing to manage these risks.

Resolutions have been filed with Royal Bank, Bank of Montreal, Bank of Nova Scotia, Toronto Dominion Bank and CIBC.

“Canadians don’t trust the banks,” said Deb Abbey CEO and portfolio manager of Real Assets, in a news release. “Better disclosure builds confidence.”

Real Assets says that Canadian banks are exposed to a number of social, environmental and ethical risks. Recently acquired U.S. subsidiaries have been accused of predatory lending and other unethical practices. Almost all of the major banks have been involved to a greater or lesser extent in the Enron and WorldCom debacles. International banks that lent money to the South African government during the Apartheid years have been sued in U.S. courts for allegedly violating international human rights law. Acknowledging these kinds of risks would help banks manage potential liabilities and enhance their reputations.

“The question we’re asked most often is why we own the banks when their biggest clients may be companies that we would consider liabilities in our portfolios,” saod Abbey “When we know more about how they conduct their business, we’ll feel more confident answering that question.”

“It’s time for the banks to come clean,” concluded Abbey.

Real Assets, which is focused exclusively on socially responsible investing, is a subsidiary of Vancouver City Savings Credit Union.