Royal Bank Plaza Announces Net Zero Commitment by 2040, Supported by RBC's Landlord Engagement Program

RBC Landlord Engagement Program advances commitment to reduce emissions from its operations

TORONTO, June 15, 2026 /CNW/ - RBC and Pontegadea, the landlord of Royal Bank Plaza, RBC's corporate headquarters at 200 Bay Street in Toronto, entered into a lease agreement which commits the property to achieve net zero emissions by 2040 – positioning Royal Bank Plaza's commitment as an example for emissions reductions in major commercial real estate. Pontegadea will develop a decarbonization roadmap for Royal Bank Plaza in consultation with RBC.

RBC is committed to reducing emissions associated with its operations, including working with landlords to help support reducing emissions in the spaces it leases. Established in 2023, the Landlord Engagement Program aims to incorporate climate-focused lease clauses within lease agreements for new and renewing lease agreements. This program is designed to support RBC's commitment to reducing emissions in its operations by asking landlords to commit to climate-focused actions and share relevant climate data with RBC.

RBC has now secured commitments from global landlords covering over 2.5 million square feet (the equivalent of approximately 147 hockey rinks or 57 acres of land) of leased office space with net zero targets by 2040. These tenant-landlord collaborations support the scaling of decarbonization initiatives at leased properties, as they address barriers from shared ownership and control of assets.

How RBC is taking action through the Landlord Engagement and Branch Retrofit Programs
RBC is taking steps to address global operational emissions at leased locations through its Landlord Engagement Program and is taking action at owned and controlled locations through its Branch Retrofit Program. Through the Branch Retrofit Program, the bank continues to make progress in installing heat pumps in its Canadian branch network where it is are responsible for heating, ventilation and air conditioning (HVAC) by 2035.

"Reducing operational emissions requires time, strategic planning and most importantly collaboration. By working with strategic landlords, we are taking a practical step towards reducing our operational emissions as part of our ambition to be the bank of choice in the transition to a low-carbon and resilient economy," said Jon Douglas, Senior Director, Head of Climate Operations at RBC. "We hope this action inspires others across the building sector to accelerate their emissions reduction efforts."

"We are proud to be working with RBC on the decarbonization of their headquarters. Achieving structural emissions reductions requires long-term vision, commitment and collaboration. Together with RBC, we are confident in our ability to deliver meaningful impact at the Royal Bank Plaza," said Eva Ronhaar, Director of ESG at Pontegadea.

Why decarbonizing office spaces matters
Built in 1976, Royal Bank Plaza is RBC's third largest commercial office space globally. The building sector accounts for 18% of Canada's greenhouse gas emissions as cited in RBC's Climate Action 2026 Report. That's why RBC's efforts to decarbonize major facilities like Royal Bank Plaza are important. You can find out more about the Landlord Engagement Program in RBC's Operational Emissions website.

Caution regarding forward-looking statements
This press release contains forward-looking statements within the meaning of certain securities laws and may include, but are not limited to, statements in connection with Pontegadea's commitment to achieve net zero emissions for Royal Bank Plaza by 2040, in consultation with RBC, and RBC's Branch Retrofit Program, and related objectives, visions, commitments, goals, metrics and targets. The forward-looking information contained in this press release is presented for the purpose of assisting stakeholders in understanding visions, commitments, goals, metrics and targets, as well as their economic and sustainability-related impacts and objectives, and may not be appropriate for other purposes. By their very nature, forward-looking statements require assumptions and are subject to inherent risks and uncertainties, both general and specific in nature, which give rise to the possibility that the predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that the assumptions may not be correct, that the sustainability-related or other objectives, visions and strategic goals will not be achieved and that the actual results may differ materially from such predictions, forecasts, projections, expectations or conclusions. Moreover, many of the metrics, measurements, commitments, goals and targets described in this press release continue to evolve and are based on assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. We caution readers not to place undue reliance on these forward-looking statements as a number of risk factors could cause the actual results to differ materially from the expectations expressed in such forward- looking statements.

About RBC
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 101,000+ employees who leverage their imaginations and insights to 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 more than 19 million clients in Canada, the U.S. and 27 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 more information, please contact:
Siriphone Maldonado, RBC Communications

SOURCE RBC