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About Royal Bank of Canada (RBC)
The Royal Bank of Canada (in French, Banque Royale du Canada, and commonly RBC in either language) was founded in 1864 in Halifax, Nova Scotia and is the largest financial institution in Canada by measured deposits, revenues, and market capitalisation. The bank serves sixteen million clients and has more than 81,000 employees worldwide. The bank offers retail banking, corporate banking and investment banking services.
200 Bay Street
ON M5J 2J5 Toronto
David I. McKay |
CSR report 2021|
Annual report 2021
listed on NYSE, SIX Swiss Exchange & Toronto Stock Exchange
Royal Bank of Canada's shareholder structure can be accessed here.
|Complaints and grievances||
RBC does not operate a complaints channel for individuals and communities that may be adversely affected by its finance.
Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).
Related Dodgy Deals
Dodgy Deals map
Tracking the Equator Principles
EPFIs reporting status
EP reporting page: https://equator-principles.com/reporting-rbc-2019-2020/
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
Goal 2025/2030: Pledged to publish interim commitments
Goal 2050: Net zero by 2050 (lending)
RBC joined the NZBA in October 2021
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
Royal Bank of Canada (RBC)'s human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Laggard, with a total score of 0.5 out of 14.
Due dilligence: 0/5
This page evaluates Royal Bank of Canada (RBC)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
The bank did not respond.
Following the bank's response: The bank publicly responded confirming that it is not involved in the financing of the project. It did not comment on or respond to the substance of the issues raised, therefore it received a half score.
No information available on whether the bank engaged with its client or took appropriate action.
Following the bank's response: The bank confirmed that it is not involved in the project, which constitutes appropriate action according to rights-holders involved in raising the issue with the bank.
At Royal Bank of Canada shareholder meeting, Wet’suwet’en Hereditary Chiefs call for an end to fossil fuel finance
Royal Bank of Canada abruptly cancels in-person portion of AGM as Wet’suwet’en Chiefs travel to confront bank’s funding of Coastal GasLink pipeline
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Case study: Coastal GasLink pipeline at a glance
Dozens of celebrities sign petition calling on RBC to stop financing Coastal GasLink pipeline in B.C.
Investment funds injected US$ 54.1 billion into mining companies with interests in Indigenous territories in the Amazon
Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks
Banks failing to address severe human rights impacts transparently, finds BankTrack research
Total’s deal with Suriname: the greenwashing of oil Block 58
Meet the banks funding the owners of the Cambo oil field
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Wet'suwet'en chiefs demand investors and financiers of Coastal Gaslink to divest from this and all future pipeline projects
Canadian fossil-heavy banks join GFANZ
‘Wreckers of the Earth’: 300 London-based companies destroying the planet
As extreme weather rages, RBC extends "sustainability" loan to Enbridge, actively expanding gas and tar sands pipelines
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
New bank links to Myanmar junta and atrocities found
Canada is burning, and our banks are fanning the flames
Dear bank CEO, you are cordially invited to defund this pipeline
Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming
Revealed: Businesses and banks behind global plastic waste crisis
New report details the gendered and racial impacts of the fossil fuel industry in North America and complicit financial institutions
32% of Royal Bank of Canada Shareholders Call for Bolder Climate Targets
Despite calls for change, Canada's RBC is one of world's top bankers to fossil fuel industry
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
Over 260 organisations call on banks not to finance Total’s East African Crude Oil Pipeline
RBC announces progress on its climate strategy including new sustainable finance target of $500 billion by 2025
RBC targets net-zero emissions by 2050, commits C$500 bln to sustainable financing
Royal Bank Of Canada Commits To Net-zero Emissions By 2050 In Its Lending
Bank lending to plastics industry faces scrutiny as pollution concerns mount
Scotiabank becomes fifth major Canadian bank to refuse to fund oil drilling in Arctic refuge
Five years lost - How the finance industry is blowing the Paris carbon budget
The Big Banks’ Green Bafflegab
Equator Banks fail communities on consultation and grievance mechanisms, new study finds
Barclays, HSBC and Credit Suisse among worst offenders on oil sands finance
RBC will not finance Arctic refuge drilling, and puts restrictions on coal, under new investment guidelines
Equator Principles requirements missing for most projects, finds new BankTrack study
Major blow to Keystone XL pipeline as judge revokes key permit
Reckless Keystone XL decision by TC Energy endorsed by JPMorgan Chase, Citi and Canadian peers
Banking on Climate Change – Fossil Fuel Finance Report Card 2020
BC union shareholder proposal prompts RBC to confirm screening of U.S. private prison industry & commit to greater human rights disclosure and engagement
Davos financial players pump US$1.4 trillion into fossil fuels: new Greenpeace report
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
RWE plans destruction of ancient German forest
Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact
Banking on Climate Change – Fossil Fuel Finance Report Card 2019
Banks massively financing fossil fuels unclear about future of ... fossil fuels
HSBC's shift on energy lending has Suncor throwing its toys out of the pram
U.S. court order stops some work on Mountain Valley natural gas pipeline in West Virginia
Report finds major banks ramped up fossil fuel financing to $115 billion in 2017
'Extreme' fossil fuel investments have surged under Donald Trump, report reveals
Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing
Indigenous Groups Lead Movement to Call on Banks to Drop Enbridge’s Controversial Line 3 Pipeline
Greenpeace Investor Briefing: Problematic Pipelines
TCFD: banks supporting better disclosure are not the ones exiting coal project finance
28 major banks warned not to finance Trans Mountain pipeline expansion
Indigenous leaders launch new campaign to defund all four proposed tar sands pipelines
Energy Transfer: Which banks continue to support the company behind DAPL?
Who's bankrolling TransCanada?
Cluster Bombs Are Banned Munitions, But Canadian Companies Are Investing In Them
New report finds banks betting on climate change
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
BankTrack to Equator Principles banks; ‘get the Outside Job done’
New rules for Equator Principles, but no new commitments from banks
BankTrack calls upon banks to Close the Gap on investment policies
Canada's First Nations peoples chastised Royal Bank of Canada (RY) for not doing enough to prevent
UK Taxpayers' money involved in financing controversial tar sands companies
Royal Bank of Canada wins award for “most environmentally irresponsible company” at Davos
Civil society groups call for bold steps forward with Equator Principles
Die-In at Royal Bank of Canada Includes 100 Protesters Who Oppose the Bank’s Involvement In the Tar Sands
Unlikely appeal to RBC first lady, Mrs. Janet Nixon, highlights bank’s involvement in tar sands
Rainforest Action Network study ranks financed emissions of Canadian banks
Letter from BankTrack, 350.org, Bank on our Future and Uplift to 25 banks on Shell's proposed Jackdaw gas field
Banking on Climate Chaos 2022
Letter from BankTrack to Royal Bank of Canada on lithium mining in Serbia’s jadar valley
Letter from Royal Bank of Canada to BankTrack on response to letter regarding investments in Myanmar
Drill, baby, drill
Gendered and Racial Impacts of the Fossil Fuel Industry in North America and Complicit Financial Institutions
Environmental and social risk management
Letter from BankTrack to RBC on the bank's progress on its fossil fuel finance since COP24
How banks contribute to human rights violations: responses to the Business & Human Rights Resource Centre
Letter from Royal Bank of Canada to Business and Human Rights Resource Centre, BankTrack on How banks contribute to human rights violations
Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO
Banking with Principles? Second Edition June 2016
Voluntary standardsRoyal Bank of Canada (RBC) has committed itself to the following voluntary standards:
Royal Bank of Canada's web page on corporate social responsibility can be accessed here.