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RBC tops Newsweek's "green" list
April 26, 2007 — RBC scored first place in
the April 8 Newsweek
International online ranking of the 100 companies
worldwide that are considered most capable of adapting to
the risks and opportunities presented by climate change, relative
to their peers.
While this ranking is recent, our commitment to environmental
sustainability dates back to at least 1992, when we launched
our first environmental policy on managing credit risks related
to environmental issues. We've learned a lot since then, and
so the scope of our activities on the environmental front
has only continued to grow.
We are redeveloping our environmental policy and preparing
to replace it with an overview of the existing and emerging
environmental issues facing RBC and our clients, and our commitments
related to our three environmental priorities.
If you're interested in seeing how RBC is going green, some
highlights are provided below. We know
that there are many ways we can do better, and we will.
This honour adds to an impressive suite of recognition garnered
by RBC for programs and performance related to sustainability
and corporate responsibility. 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. We were named
one of world's Top 100 sustainable companies in 2007.
The Newsweek list was based on research and analysis
by Innovest Strategic Value Advisors and Corporate Knights.
Companies on the list were selected from the Innovest universe
of 1,800 publicly-traded companies.
How RBC is going green: Highlights
at a glance
When it comes to environmental sustainability, we all have
a role to play. Here are some highlights on how RBC is striving
to do better-a quick glance at how we're striving to become
more environmentally sustainable. If you'd like more information,
please visit rbc.com/environment.
We have three environmental
priorities:
Lend and Invest Responsibly
- We practice a high level of due diligence to identify,
assess and help mitigate the environmental risks associated
with lending to our clients and have a suite of environmental
credit risk policies that cover a range of environmental
risks and business activities. Transactions are reviewed
for environmental issues and escalated to our environmental
specialists where warranted for further analysis and approval.
- 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 resigned the revised the Equator Principles
in 2006.
Reduce Operational Footprint
- In 2006, we decreased our year-over-year greenhouse gas
emissions by 7 per cent and hope to do better in 2007.
- We are targeting paper reduction in all our operations,
moving towards full use of recycled and FSC certified or
equivalent paper. We introduced paperless and electronic
banking options to our clients for a number of banking services.
In Canada, 1.2 million clients have chosen e-statements
for Personal Deposit Accounts, RBC Royal Bank Visa, Royal
Credit Line and the RBC Homeline Plan, with more e-statements
and paperless banking options to come.
- We 'offset' the greenhouse gases created during the production
of our 2006 Annual Report, proxy circulars and Corporate
Responsibility Reports.
- We are striving to reduce the consumption of energy in
our own operations, and to increase our use of 'green' energy.
In 2007, we launched an 'EnergySmart' campaign for employees,
to help reduce our consumption of electricity. We also expanded
our support for clean, renewable power by purchasing 100
per cent green electricity for 11 RBC Royal Bank branches
in Alberta and 3 in Ontario. This augments RBC's existing
use of green power for branches in Ontario and British Columbia.
More.
- We are striving to integrate green building practices
in new facilities. For example, the RBC Centre, located
in downtown Toronto and scheduled for completion in 2009,
is being constructed to LEED (Leadership in Energy and Environmental
Design) certification. It includes floor-to-ceiling windows,
a system for reclaiming rainwater and both direct and indirect
lighting.
Green Business
- Later in 2007, we will be launching the RBC Jantzi Funds,
a suite of three mutual funds for clients who want to balance
financial returns with social responsibility. Currently,
RBC's clients in Canada can screen their investments to
ensure they are investing in a socially responsible manner,
using information provided to RBC by Jantzi Research Associates.
RBC's clients also have access to the 71 SRI Funds available
in the Canadian market.
- In 2007, we were part of a coalition of 284 asset management
companies representing $41-trillion in assets under management
that signed the Carbon Disclosure Project's 5th annual request
for information. Signatories ask companies to disclose the
climate-related risks and opportunities they consider material.
As a potential stock-pick, we also completed the request
for information.
- We released a report through RBC Capital Markets for investors
who are interested in taking advantage of the opportunities
in the global solar industry. More.
- We are striving to capitalize on environmental opportunities
through the GEF Clean Technology Fund, and our Alternative
Energy Venture Fund.
- We have a growing expertise in providing responsible investing
and financing advice to clients of all sizes. For example,
we have an SRI (socially responsible investment) Wealth
Management team based out of RBC Dain Rauscher in San Francisco,
managing nearly USD $1 Billion. This specialized team of
financial advisors, provides SRI expertise to clients across
the United States, including entrepreneurs, foundations,
unions, and pension funds.
- We also have an Energy & Utilities team through RBC
Capital Markets in London (U.K,) that provides experienced
and successful services to the renewable energy sector.
The 20-member team offers investment banking, financing
and advisory services for businesses and renewable power
projects in Europe, and provides support to our international
activities within the renewables sector for projects such
as wind farm, small hydro and biomass projects.
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