As Pride Toronto prepares for its annual festival, and its annual parade on June 29th, it faces escalating demands from activist groups to sever ties with corporate sponsors accused of funding Israel’s military operations in Palestine. The campaign #NoPrideInGenocide has brought renewed scrutiny to the financial backers of Canada’s largest LGBTQ2+ celebration.
The solidarity group, Queers4Palestine has picked-up the call and launched an urgent campaign calling on Pride Toronto to:
- Cut ties with TD Bank: Remove TD Bank as a Presenting Sponsor.
- Amazon be gone: Immediately remove Amazon as a corporate donor.
- No Pride in Genocide, No Pride in Apartheid: Do not allow any organizations representing “Israel” in the parade, especially Israeli lobby organizations such as CIJA.
- No Visibility for Genocide-complicity: Do not allow any of the following entities to march in the PrideTO parade, nor to occupy any vendor booths nor any spaces in the PrideTO festival area within PrideTO’s control:
4a. Entities on the BDS list, including Amazon, Microsoft, Google.
4b. Major banks in Canada: TD, Scotiabank, RBC, CIBC, BMO
4c. The US Consulate and Canadian Government representatives: US and Canadian political leadership have, time and again, provided both material and political cover for “Israel’s” genocide and ethnic cleansing of Palestine. They have also been responsible for the political persecution and repression of anti-genocide activists. - Listen to your community: Hold a special general meeting to discuss PrideTO members’ ongoing requests to endorse A Liberatory Demand from Queers in Palestine. These requests have continued to be ignored in violation of the Not-For-Profit Corporations Act, and this must be rectified immediately. Create an Advisory Committee to discuss solidarity with Palestine and to implement these demands.
- Commit to social justice: Sign the Palestine Solidarity Pledge (PSP)
They have also launched a letter writing campaign tell Pride T.O. and its Executive Director, Kojo Modeste to end Pride T.O.’s complicity in pinkwashing the genocide in Palestine: https://actionnetwork.org/letters/stoppinkwashing
Over the past 20 months, there has been various campaigns and protests that have highlighted the complicity of Canadian banks’ (such as TD Bank, RBC, and Scotiabank) with their investments in weapons manufacturers and companies supplying Israel’s genocidal military.
Financial Ties Exposed
The activists’ claims are supported by a comprehensive Q1 2025 analysis from Just Peace Advocates, which reveals Canada’s “Big Five” banks invested $132.1 billion USD in companies complicit in Israel’s occupation of Palestine. The breakdown shows:
RBC: 46.2% ($61 billion)
BMO: 16.9% ($22.3 billion)
TD Bank: 14.7% ($19.4 billion)
Scotiabank: 13.8% ($18.2 billion)
CIBC: 8.4% ($11.1 billion)
TD Bank, Pride Toronto’s lead sponsor, holds particularly troubling investments:
$19.4 billion in companies linked to Israel’s military and settlements. $1.8 million in firms named in the UN Database for operating in illegal settlements (including Airbnb, Booking Holdings, and Motorola Solutions)
Direct stakes in weapons manufacturers:
- Elbit Systems ($3.9 million)
- Boeing ($101.2 million)
- Lockheed Martin ($90.2 million)
- Caterpillar ($237.3 million) – whose bulldozers demolish Palestinian homes
The report notes a 1.7x increase in TD’s investments in these companies since Q2 2024.
Industry-Wide Complicity
RBC: Largest investor in weapons makers like Lockheed Martin ($1 billion).
Scotiabank: Through its subsidiary, 1832 Asset Management, Scotiabank has been a significant investor in Elbit Systems, an Israeli defense company implicated in human rights violations against Palestinians. $62.6 million stake in Motorola Solutions (provides surveillance tech to Israeli military).
BMO: Invests $437 million in Palantir Technologies, whose AI-powered systems and analytical tools help Israel’s help its genocidal campaign. The company has also entered into a “strategic partnership” with the Israeli military on January 2024. Palantir’s CEO Alex Karp has been an enthusiastic supporter of Israel’s genocide of Palestinians.
CIBC: It has significant investments in weapon manufacturers such as Honeywell ($289m), Lockhead Martin ($57m), CAE ($56m), and L3Harris ($19m) to name a few. Also has invested heavily into Palantir ($129m) and Caterpillar ($106m).
TMX: Lists multiple arms dealers supplying Israel.
Pride Toronto’s Silence
Despite mounting pressure, Pride Toronto has not responded to the activist demands. This silence has drawn sharp criticism from community organizers who argue the festival’s inaction contradicts its stated values of inclusion and justice.
As the June festival approaches, the controversy presents a critical test for Pride Toronto. Will it maintain its legacy as a movement for liberation, or continue accepting sponsorship from institutions profiting from occupation, apartheid, and genocide?
#NoPrideInGenocide actions are planned throughout Pride Month.
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For more info:
Queers4Palestine’s letter writing campaign
