Innovative new Canadian initiative will mobilize unprecedented funds towards gender equality
TORONTO, June 4, 2019 /CNW/ - The Royal Bank of Canada (RBC) today announced that it has joined the Canadian-led, first of its kind, Equality Fund. This ground-breaking collective combines national and international gender-lens granting, multi-sector philanthropy and a new innovative investment arm, to deliver new momentum for women's movements and support the advancement of gender equality in Canada and around the world.
The Equality Fund has mobilized initial investments of $100 million to partner with the $300 million multi-year funding award from the Government of Canada announced on June 2.
"RBC is proud to be a founding partner in the Equality Fund," said Lindsay Patrick, Managing Director and Head, Sustainable Finance Group, RBC Capital Markets. "As one of Canada's leading providers of financial advice, RBC will contribute our expertise in responsible investing and sustainable finance to provide counsel on how to structure and manage the Equality Fund."
The Equality Fund collective is made up of The MATCH International Women's Fund (The MATCH Fund), along with ten partners – the African Women's Development Fund (AWDF), Calvert Impact Capital, the Canadian Women's Foundation (CWF), Community Foundations of Canada (CFC), Philanthropy for Advancing Women's Human Rights (PAWHR), Royal Bank of Canada (RBC), Toronto Foundation, World University Service of Canada WUSC), Oxfam Canada and Yaletown Partners. Members all share common values yet offer unique organizational strengths.
"RBC is a purpose-driven organization, and how we act is just as important as what we achieve," said Valerie Chort, Vice President, Corporate Citizenship, RBC. "We are so proud to be bringing our expertise in sustainable finance and our passion for social good to the Equality Fund, helping to drive social impact, advance gender equality and bring our purpose of helping clients thrive and communities prosper to life."
Through this collective partnership, the Equality Fund will activate a minimum of $1B over the next 15 years.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-sustainability.
SOURCE RBC Royal Bank
For further information: Elynn Wareham, RBC, [email protected], 647-533-8152