Our Environmental Objectives

1. Reduce the intensity of our environmental footprint

Primarily, RBC’s environmental footprint comprises energy use, paper consumption, employee travel, water use, and procurement activities. We are committed to continuing to reduce our environmental footprint, as set out in this section.

Greenhouse Gas Emissions
While we emit greenhouse gases directly through the use of fossil fuels in some of our heating systems, most of our greenhouse gas emissions are indirect, such as through our use of purchased electricity, the production and distribution of documents, and employee travel. To learn more about our climate change risks and migitation strategies please see our Carbon Disclosure Project submission.

Energy Use
We use energy to heat and cool buildings, run our technology infrastructure and lighting systems, and for other purposes. RBC has been a purchaser of renewable energy¹ since 2002.

Procurement
RBC’s procurement of materials, goods and services is extensive and globally far-reaching.  We currently subject our purchases to environmental screening, but recognize the need to formalize an enterprise-wide policy to address the environment and social impacts associated with our procurement activities. That’s why in 2008, we drafted the RBC Responsible Procurement Policy that will increase the acquisition of environmentally and socially preferable products and services. Learn more about our Procurement activities.

Paper Use
As a large financial services institution, RBC uses a great deal of paper, both internally and in client materials. We will do our part to conserve forest resources and support sustainable forest management.

Waste Management
Waste minimization through demand management, reuse and recycling are the preferred methods of reducing solid waste. However, where solid waste cannot be eliminated we are committed to careful management and disposal.

Water Use
While the level of direct water consumption at RBC is relatively small - associated mainly with restroom and lunchroom facilities on our premises – we are committed to improving our water use and conservation practices.

More about RBC's environmental footprint.

2. Promote Environmentally Responsible Business Activities

RBC provides a variety of financial products and services to personal, business and corporate clients globally. We have comprehensive environmental risk management policies and procedures to facilitate the environmental review of transactions. We proactively review and update these policies and processes to address regulatory changes, emerging and evolving issues and international best-practices. RBC employs a dedicated team of environmental professionals who are available to provide expertise across the enterprise, when required.

We will continue to work with our clients and business partners to mitigate environmental risks and support environmentally responsible business models.

In addition, we were the first Canadian financial institution to sign the Equator Principles in 2003, a set of voluntary guidelines addressing environmental and social risks associated with project finance. We reaffirmed our commitment to the Equator Principles by signing the revised the Equator Principles in 2006.

More about Responsible Lending at RBC.

3. Offer Environmental Products and Services

RBC seeks to offer an expanding array of products and services that provide long-term environmental benefits, are clearly distinguishable from comparable non-environmentally focused products, and empower clients with options to reduce their environmental footprint at little or no additional cost to the client.

More about Environmentally responsible products and services.