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RBC’s Corporate Environmental Policy was originally developed in 1991 and supplements the environmental section of our employee Code of Conduct.
The original objective of the Policy was to shield credit transactions from environmental risks. As our experience and understanding of environmental issues has expanded over the years through stakeholder engagement and research and collaboration, we revised our Policy to guide RBC’s business and operational activities in a manner more consistent with the evolving principles of sustainable development.
The Policy is overseen by Corporate Environmental Affairs which ultimately reports to the Conduct Review and Risk Policy Committee of our Board of Directors.
The following elements will guide environmental initiatives at RBC:
- Environmental Footprint Reduction: RBC will pro-actively apply sound environmental practices to internal operations and purchasing decisions. We will seek ways to minimize our consumption of resources, including energy, paper and water, and our generation of waste and emissions. We will help create opportunities for our suppliers and employees to do the same.
- Responsible Business: RBC will develop, maintain, and communicate effective policies, procedures, standards and guidelines for our business activities, to address environmental issues and risks material to RBC, its clients and its other stakeholders.
- Products, Services and Business Opportunities: RBC will provide clients and employees with innovative, practical and cost-effective financial products and services to promote environmentally sustainable choices. We will seek out business opportunities that promote environmental sustainability and provide business benefit.
- Employee Involvement: RBC will offer environmental education and tools to our employees worldwide to enable them to act in an environmentally responsible manner, and support our company’s objectives. We will also provide our employees opportunities to become personally engaged in environmental sustainability initiatives that are important to our business.
- Compliance: RBC will responsibly manage all aspects of our business to ensure environmental laws and recognized standards are met or exceeded. We will monitor compliance with our own policies, procedures, and standards.
- Reporting and Transparency: RBC will report regularly on our key environmental performance indicators. We will continue to improve our system for monitoring, measuring and transparent reporting of our performance relative to our targets, priorities and objectives.
- Partnership: RBC will establish and maintain productive partnerships with experts and stakeholders to ensure that we remain informed about relevant concerns and issues and are well-positioned to manage environmental risks and opportunities. We will provide support for selected non-profit groups working to address environmental issues of importance to RBC and our stakeholders.
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