TORONTO, March 4, 2020 /CNW/ - RBC today released its 2019 Environmental, Social and Governance (ESG) Performance Report, Task Force on Climate-related Financial Disclosures (TCFD) Report and Public Accountability Statement (PAS) - complementary documents to RBC's annual report to shareholders.
Together these reports describe and disclose the many ways RBC demonstrated our purpose of helping clients thrive and communities prosper in 2019. They provide our investors and other key stakeholders with greater transparency into our strategy, commitments and performance on relevant environmental, social and governance topics as well as our balanced scorecard approach to delivering leading performance.
Our ESG Performance Report outlines how RBC creates value for our stakeholders through our commitments in the following priority areas: governance and integrity, value for employees, value for clients, value for society and value for planet. It also reflects RBC's contribution to the economy and society in Canada, which are the key measures supporting RBC's purpose.
"We want a future where people thrive and communities prosper," said Valerie Chort, Vice-President, Corporate Citizenship, RBC. "As an organization whose success relies very much on our many stakeholders, we believe our efforts in helping create this future are both a responsibility and an opportunity. That's why we remain relentlessly focused on creating value in ways that both leverage and extend beyond our primary role as a bank."
Among the many examples of RBC's ESG performance throughout the reports, key highlights include:
- The contribution of more than $25.9 billion of our $100 billion sustainable financing target by 2025 to help support a transition to a low-carbon economy
- The establishment of the Sustainable Finance Group in RBC Capital Markets
- The enhancements to our disclosure on climate-related risks and opportunities in line with the Taskforce on Climate-related Financial Disclosures (TCFD)
- The donation, through the RBC Foundation, of $130 million to registered charities
- The invitation to individuals from all walks of life to engage in a frank conversation about prevalent misperceptions on gender, race, religion, sexual orientation and disabilities
For more information on RBC's commitment to community and sustainability, or to read the full report, visit: www.rbc.com/community-social-impact/index.html.
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 85,000+ 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 17 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-social-impact.
For further information: Elynn Wareham, RBC Communications, 647-533-8152, [email protected]