The Financial Post reports in its Friday edition that Royal Bank of Canada plans to increase financing on renewable energy -- while marking little progress on reducing the emissions intensity of its oil and gas financing. A Canadian Press dispatch to the Post says that in its latest annual climate report, the bank set a goal to triple renewable energy financing to $15-billion by 2030 and said it plans to direct $1-billion to climate solutions by the end of the decade. RBC has also created its own "decarbonization finance" category, as progress on creating industry-wide green finance standards remains stuck at the federal government. The bank also disclosed that the emissions intensity of its oil and gas financing was "relatively flat" last year compared with a 2019 baseline, while its goal is to reduce the measure by between 11 per cent and 35 per cent by the end of the decade. RBC has said it is better to work with oil and gas companies to reduce their emissions intensity, even as they ramp up production and total emissions, rather than cut off funds as pushed by some climate advocates. The bank did not disclose in the report how its total amount of low-carbon energy financing compared with its fossil fuel financing.