The German bank says its new fossil fuels policy will also prohibit investing in projects that use hydraulic fracturing or fracking in countries with scarce water supplies and all new oil and gas projects in the Arctic region.

Suncor is reporting higher net earnings in the second quarter despite lower than expected oilsands production due to maintenance down time at its northern Alberta projects.

Academy Award winner Jane Fonda will be in Edmonton this week to voice her opposition of the federal government's approval of oilsands expansion.