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RBC named Canada's "Best Corporate Citizen"
June 26, 2007 — RBC scored first place in the
"2007 Best 50 Corporate Citizens in Canada" ranking,
according to Corporate Knights magazine. The ranking is based
on an evaluation of the environmental, social and governance
performance of Canada's leading companies.
Factors driving RBC's top score included our responsible
business practices, as well as our approach to diversity and
environmental sustainability, which is quickly becoming an
increasingly important indicator of a corporation's overall
citizenship in most global awards and rankings of this type.
RBC's ranking took into consideration our long-standing environmental
policy and risk-management practices for responsible lending.
It also recognizes RBC's growing expertise in providing responsible
investing and financing advice to clients of all sizes, and
our growing involvement with the renewable energy sector,
such as through the GEF Clean Technology Fund, our Alternative
Energy Venture Fund.
This honour adds to an impressive suite of recognition garnered
by RBC for programs and performance related to sustainability
and corporate responsibility, including RBC having been named
"greenest" large company in the world in Newsweek
International in April, 2007 for our ability to effectively
manage environmental risks and opportunities relative to our
industry peers.
RBC is listed on the 2007 Dow Jones Sustainability Index,
recognizing the world's financial, social and environmental
corporate leaders, as well as the Jantzi Social Index and
the FTSE4Good Index.
RBC considers corporate responsibility to include ethical
business practices, having a positive economic impact, operating
with integrity in the marketplace, providing a supportive
workplace, being environmentally sustainable and contributing
to communities.
For more on any of these areas, visit rbc.com/responsibility.
"2007 Best 50 Corporate Citizens in Canada"
Methodology and Metrics
There are a wide range of opinions on what factors constitute
good corporate citizenship or corporate responsibility, and
various awards are calculated in different ways. The following
methodology and metrics were used to calculate the ranking
for the "2007 Best 50 Corporate Citizens in Canada"
list:
- Company names were drawn from a universe of Canadian companies
that are listed on the TSX, and large employers that are
subsidiaries of companies listed on the NYSE.
- Information was drawn from publicly available sources.
- Companies were judged on a set of baseline indicators,
including: tax generation/taxes paid, executive diversity
and pension fund quality.
- Each separate industry was additionally rated on a set
of sector specific issues. Financial services companies,
for example, were also rated on the extent to which sustainability
is incorporated into asset management, financing and advisory
services, liability, risk management and governance.
- Baseline indicators were counted as 50 per cent of the
final score, and sector specific indicators made up the
other 50 per cent. The ranking for each indicator was based
on each company's sector rank.
For more on the ranking, visit Corporate Knights website.
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