Banks have a significant impact on people, communities and countries. Our first priority is doing our jobs as bankers well, and serving our clients with integrity, every day. At RBC, we also take our responsibilities in the community, marketplace, workplace and to the planet seriously.
You are on: Approach
The RBC vision and values are the 'what’ and 'how’ of our business strategy. Together, they serve as a compass for our sustainability journey.
At RBC, we focus on six distinct areas. Our commitments in these six areas make up our overall community and sustainability strategy.
Learn about our performance in these six areas.
You are on: Stakeholders
We touch many lives and there are lots of opinions on what we should do to be a responsible corporate citizen. We take great care to listen to those opinions so we are better able to make a positive difference.
Our stakeholders include:
You are on: Hot Issues
Our clients, shareholders, employees and other stakeholders aren't shy about sharing their opinions with us or calling us out if they don't agree with how RBC approaches the issues that matter to them. So we try not to shy away from having conversations about some of the tough issues, such as those shown here.
Public sentiment toward the banking sector has deteriorated as a result of worldwide financial difficulties and scandals. Governments have responded with ever-increasing regulations. In this environment, financial institutions face a host of new challenges in adapting to changes and regaining the trust of consumers. Canadian banks have fared better than banks in many other countries, but we know we must continually work to earn the trust of our stakeholders. Over the years, we have built a foundation of trust, which we strive to maintain by behaving with integrity in everything we do.
We support economic development by providing loans, advice, information and services to our clients, and support small business, entrepreneurship, innovation and social programs. For example, in 2012, we committed $20 million to RBC's social finance initiative, purchased $5.9 billion in goods and services and incurred $3.1 billion in taxes.
We help promote financial literacy through our own initiatives and by supporting not-for-profit organizations that provide financial education. We aim to lend money responsibly by providing credit to clients who are able to manage their debt comfortably.
As the use of online and mobile banking grows, so does the risk of fraud and scams. Banks must take responsibility for protecting their clients' information from unauthorized access or use. We have stringent privacy practices and use a range of technologies and security mechanisms to ensure the safety, confidentiality and integrity of client information and transactions. We employ advanced technology and security procedures to help protect against unauthorized transactions and access to user data.1
1For a definition of an unauthorized transaction and for full details regarding the protections and limitations of the RBC Online Banking Security Guarantee, see the Electronic Access Agreement. This guarantee is given by Royal Bank of CanadaTM in connection with its Online Banking service.
We have made some important strides in the past few years in the area of diversity. Women make up 47 per cent, and visible minorities 30 per cent, of middle management positions or above. Diversity is a key ingredient for winning new business, attracting great talent, strengthening our communities and creating a workplace where everyone belongs and thrives.
Financial services companies must carefully balance environmental concerns, society's needs and economic opportunity by providing credit responsibly to all sectors. We have a very clear role in ensuring that our lending and investment banking activities are subject to appropriate environmental and social due diligence. RBC has a suite of environmental and social risk management policies that apply to our financing activities; we regularly update these policies to address scientific findings, regulatory changes, emerging and evolving issues, and international best practices.
RBC is consistently recognized as one of Canada's leading corporate citizens, thanks to our community and environmental programs and the involvement of our 80,000 employees worldwide. To help strengthen the social fabric of the communities in which we live and work, we support a broad range of causes in virtually all charitable sectors, and provide deep, focused support to key causes that that reflect our company's chosen priorities. In 2012, we made over 9,000 donations, totalling more than $61 million, to charities worldwide.
You are on: Recognition
A company's reputation is built in part by what people say about it. We have been recognized for our sustainability efforts and performance through awards and listings on sustainability indices around the world.