RBC is Canada’s second-largest company.
RBC serves 17 million customers
And commits to “creating a positive social impact.”
“Climate change is one of the most pressing issues of our times.” [Dave McKay, RBC CEO, 2021]
“RBC supports the principles of the Paris Agreement and the international goal to hold global warming to below 2 degrees Celsius.”
In 2011, RBC pledged that its oil and gas clients have “policies and processes consistent with the standard of free, prior, and informed consent” with First Nations.
RBC funded more than C$208 billion into fossil fuels since the Paris Climate Agreement was signed.
RBC financed C$14 billion of coal over the past two years. RBC is the world’s 12th largest coal lender.
RBC is the world’s 5th largest fossil fuel funder and the biggest in Canada.
RBC is the second biggest funder of the tar sands, lending the industry C$29 billion since 2016.
RBC is the #5 bank in the world for financing fossil fuel expansion projects.
The UN says we must cut carbon pollution in half by 2030 to avert irreversible catastrophe.
RBC continues to earn billions in annual profits, even during a global pandemic.