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RBC named Canada's "Best Corporate Citizen"

June 26, 2007 — RBC scored first place in the "2007 Best 50 Corporate Citizens in Canada" ranking, according to Corporate Knights magazine. The ranking is based on an evaluation of the environmental, social and governance performance of Canada's leading companies.

Factors driving RBC's top score included our responsible business practices, as well as our approach to diversity and environmental sustainability, which is quickly becoming an increasingly important indicator of a corporation's overall citizenship in most global awards and rankings of this type.

RBC's ranking took into consideration our long-standing environmental policy and risk-management practices for responsible lending. It also recognizes RBC's growing expertise in providing responsible investing and financing advice to clients of all sizes, and our growing involvement with the renewable energy sector, such as through the GEF Clean Technology Fund, our Alternative Energy Venture Fund.

This honour adds to an impressive suite of recognition garnered by RBC for programs and performance related to sustainability and corporate responsibility, including RBC having been named "greenest" large company in the world in Newsweek International in April, 2007 for our ability to effectively manage environmental risks and opportunities relative to our industry peers.

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.

RBC considers corporate responsibility to include ethical business practices, having a positive economic impact, operating with integrity in the marketplace, providing a supportive workplace, being environmentally sustainable and contributing to communities.

For more on any of these areas, visit rbc.com/responsibility.

"2007 Best 50 Corporate Citizens in Canada" Methodology and Metrics

There are a wide range of opinions on what factors constitute good corporate citizenship or corporate responsibility, and various awards are calculated in different ways. The following methodology and metrics were used to calculate the ranking for the "2007 Best 50 Corporate Citizens in Canada" list:

  • Company names were drawn from a universe of Canadian companies that are listed on the TSX, and large employers that are subsidiaries of companies listed on the NYSE.
  • Information was drawn from publicly available sources.
  • Companies were judged on a set of baseline indicators, including: tax generation/taxes paid, executive diversity and pension fund quality.
  • Each separate industry was additionally rated on a set of sector specific issues. Financial services companies, for example, were also rated on the extent to which sustainability is incorporated into asset management, financing and advisory services, liability, risk management and governance.
  • Baseline indicators were counted as 50 per cent of the final score, and sector specific indicators made up the other 50 per cent. The ranking for each indicator was based on each company's sector rank.

For more on the ranking, visit Corporate Knights (opens external website in new window) website.

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