Centre will act as a catalyst for social and environmental change
TORONTO, Nov. 8, 2012 /CNW/ - RBC today announced a historic, $1 million, five-year commitment to support the MaRS Centre for Impact Investing. With this donation, RBC becomes a founding partner of the Centre, launched in late 2011 to increase awareness of social finance and direct new capital and talent to tackle social and environmental problems in Canada.
RBC's donation will help the Centre become the leadership hub on impact in investing for Canada. With the donation, RBC will fund educational and advisory programs for investors, financial advisors, social enterprises, as well as the development of models, tools, products, research and services to create and measure positive social and environmental impact.
"RBC is proud to be a founding partner of the MaRS Centre for Impact Investing, and we are confident that with this donation, the Centre will strengthen our collective ability to mobilize private capital toward the public good," said Gordon M. Nixon, president and CEO, RBC. "The Centre will become the 'go-to' resource for social finance in Canada, creating a collaborative platform for private, community and government sectors to develop products, services, talent and public policy."
"MaRS is proud to recognize RBC as a founding member of the Centre for Impact Investing," said Ilse Treurnicht, CEO, MaRS,. "Their support, and Gord Nixon's leadership, speaks to the momentum that is building around the impact investing agenda. The talent and capabilities that RBC brings to the table will strengthen the Centre's capacity to build a robust investment hub."
Today's donation complements the RBC social finance initiative, a $20 million commitment to help ignite social and environmental change through investment activity. This commitment includes the $10 million RBC Generator, a pool of RBC capital designed to finance enterprises addressing social and environmental challenges and a $10 million investment of RBC Foundation assets into socially responsible investment funds. The RBC Generator will provide financing for enterprises that address clean water, energy efficiency, or employment opportunities for youth or disadvantaged groups.
The RBC social finance initiative builds on the company's strong and longstanding reputation for leadership and innovation in finance, business, corporate citizenship and public policy. One of Canada's leading corporate citizens, RBC contributed more than $98 million to charitable causes worldwide in 2011.
"My hope is that others in the business community will make similar commitments to help create positive social and environmental change," added Nixon.
MaRS Discovery District (Twitter: @MaRSDD) is a mission-driven innovation centre located in Toronto. MaRS works with partners to catalyze, accelerate and amplify innovation. MaRS supports entrepreneurs building Canada's next generation of growth companies.
About the MaRS Centre for Impact Investing
The Centre for Impact Investing is a national hub designed to increase the awareness and effectiveness of social finance in order to direct new capital and talent toward tackling Canada's most pressing social and environmental problems. Designed for collaboration and co-creation between government, community and the private sector, the Centre builds on the foundational work of MaRS and Social Innovation Generation (SiG), including the landmark report by the Canadian Task Force on Social Finance.
RBC employs approximately 80,000 full and part-time people who serve more than 15 million personal, business, public sector and institutional clients in Canada, the U.S. and 51 other countries. RBC is recognized among the world's financial, social and environmental leaders, and is listed in the 2011-2012 Dow Jones Sustainability World Index, the Global 100 Most Sustainable Corporations, and the DJSI North American Index. RBC has been named one of Canada's Greenest Employers, one of Canada's Best Diversity Employers, one of Canada's 50 Most Socially Responsible Corporations and one of the Best Workplaces in Canada. RBC is also listed on the Jantzi Social Index, the FTSE4Good Index, and the Canadian Carbon Disclosure Project Leadership Index.
RBC and its employees support and participate in a broad range of community initiatives through donations, sponsorships and volunteer activities. In 2011, RBC contributed more than $98 million to causes worldwide through donations of $64 million and sponsorship of community events and organizations of $34 million.
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