Our long term partner the Union of BC Indian Chiefs (UBCIC) announced today  a win on pushing Canada’s biggest bank forward on Indigenous rights. Here are the highlights from the UBCIC’s statement:

In response to two successive shareholder resolutions filed by the B.C. General Employees’ Union (BCGEU), with support from the Union of BC Indian Chiefs (UBCIC), RBC launched a new component to its Environmental and Social Risk process, which asks questions about impacts on Indigenous lands and communities (I-ESR).

In addition, the bank has amended its human rights statement to invoke internationally recognized standards for Indigenous rights. Furthermore, RBC agreed to include a review of its new I-ESR policies in its racial equity audit to be completed in 2025.

“We are pleased to report that after over a year of negotiations, RBC has now charted a more meaningful course towards upholding Indigenous rights,” said Grand Chief Stewart Phillip, President of the Union of BC Indian Chiefs. “After last year’s AGM debacle and ignoring the voices of proper title holders like the Wet’suwet’en Hereditary Chiefs, it is refreshing to see a change to RBC’s approach”.

RBC is the third Canadian chartered bank to agree to terms and commitments related to a shareholder proposal on FPIC filed by BCGEU and UBCIC, following commitments from both TD Bank and the Bank of Montreal in 2023.

Read the full statement on the UBCIC website.