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RBC launches Policy on Environmental and Social Risk Management for Capital Markets

A message from Gordon M. Nixon, President and Chief Executive Officer

 

December 22, 2010 - 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 policies and processes for our many business areas.

As part of this suite, our new Environmental and Social Risk Management Policy for Capital Markets increases our focus on environmental and social issues in corporate lending, debt and equity underwriting and financial advisory activities. Building on the strong foundation that RBC has already established, this leading edge policy addresses evolving environmental and social risks that can impact our business and those of our clients. We know that our clients work hard every day to manage the environmental and social impacts that may result from their business operations. The new policy is intended to ensure that we gather the appropriate information on relevant environmental and social aspects of our clients' business to evaluate potential impacts on a client's financial position, and to understand how they are preventing or mitigating their impact on environmentally sensitive areas. The policy also recognizes the importance of community relations, and in particular aboriginal community relations, in operating and growing a business, and we look at how our clients consult and meaningfully accommodate these communities.

In addition, we plan to launch our newly updated enterprise-wide environmental and social risk management policy, which ensures that all of RBC's activities and initiatives are conducted with due regard for the impact of environmental and selected social considerations.

These policies reinforce our commitment to work with our clients, suppliers and other business partners to manage environmental and social issues and take a balanced, responsible approach to business.