RBC has long been recognized as a leader in environmental issues. Since the launch of our first Corporate Policy on the Environment in 1991, we have continued to develop and implement a suite of world class environmental and social policies and processes for our many business and functional units.
RBC’s supplier management policy includes requirements in the procurement process to review environmental and social issues that can impact our business, our supplier’s business and communities. The review process ensures that we gather the appropriate environmental and social information regarding supplier’s operations and the products and service they offer to make informed procurement decisions.
RBC’s supplier management policy requires that RBC gather information on eight key areas of supplier operations, which include:
Any significant issues identified in the supplier due diligence process are incorporated into our standard procurement review process, making environmental and social risks part of our routine supplier review.
For certain material procurement engagements, we also require category specific environmental screening in an effort to identify and reward environmental leaders and/or products that help RBC reduce our environmental footprint. This may include a review of environmental benefits and lifecycle impacts of a product, by evaluating the product’s environmental impacts associated with the extraction of raw materials, manufacturing process, packaging, transportation, product longevity and end-of-life disposal.
RBC’s supplier management policy and the RBC Supplier Code of Conduct reinforces our commitment to work with our suppliers to manage environmental and social issues and take a responsible approach to procurement activities.