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An update from RBC Corporate Environmental Affairs Group July 2016

New and Notable

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RBC Supports a Price on Carbon

There wasn't any doubt about RBC's position on carbon pricing at the North American Climate Policy Forum in June where John Stackhouse, Senior Vice President, Office of the CEO, provided a 30 minute keynote speech outlining RBC's support for carbon pricing as a means to fund clean innovation, renewables and the shift to the low carbon economy.

Here are the key points made in his speech:
1   A price on carbon is necessary
2   Carbon should be priced at a level to create long-term behavioural change and support long-term investment
3   There is an immediate need for innovation in terms of how Canadians produce and consume energy, both to ensure the economy's long-term competitiveness and to take advantage of the vast global opportunities that emerge in the transition
4   Canada will not meet its carbon emission targets without a significant investment in innovation
5   We need to attract and grow equity capital for high risk innovation
6   We need to allow the market to pick the technologies that will succeed
7   We should motivate mainstream Canadian companies to adopt clean technologies
8   We need to ensure Canada attracts the best talent in the world for clean tech
RBC se prononce en faveur de la tarification du carbone
  Did you know that John is RBC’s representative for Smart Prosperity?
For more details on John’s speech, click here.

The Largest Solar Bond Offering in Canada

The Largest Solar Bond Offering in Canada

Grand Renewable Solar (GRS) owns a solar power generation facility in Southern Ontario. The Project is one of the largest operating solar power generation facilities in Canada with approximately 445,000 ground-mounted photovoltaic modules. It will generate enough clean energy to meet the needs of over 17,000 households.

GRS priced the bond issue at C$612 million representing the largest solar bond offering in Canada to date. GRS will use the proceeds of the notes to repay, among other things, the inaugural 2013 construction financing.

RBC Capital Markets acted as the sole bookrunner and lead agent on the project bond offering for the GRS Project. For more information on the project, click here.


A record-breaking year for green bonds

A record-breaking year for green bonds2015 was a record-breaking year for green bond issuance with $42 billion of issuance, up from $3billion in 2012, and 7 new countries issuing green bonds in 2015. The green bond market is expected to exceed $100 billion in issuance in 2016, as investing in green infrastructure will be increasingly necessary as environmental sustainability increases in importance.

In March, RBC Capital Markets hosted the 3rd annual Green Bond Conference in Toronto. A green bond is an instrument for public sector and corporate issuers to unlock private capital for a wide range of sustainable projects (for example, renewable energy).

Following the conference, Capital Markets published a Green Bond Report that provides a complete summary of the learnings from the conference. For the complete report, please click here.

A growing appetite for impact investing: what wealth advisors need to know

90% of high net worth individuals believe it is important to use their wealth to make a positive social impact, making way for a new investment approach intended to create both financial returns and societal benefits. Appetite for impact investing is highest among younger investors and women, two segments expected to be the beneficiaries of large wealth transfers in the next generation. Despite mounting interest in impact, investors lack reliable sources of advice for identifying appropriate investment mechanisms and opportunities. In this handout, produced by RBC Social Finance Initiative, you'll learn how wealth advisors can help current and prospective clients navigate this rapidly growing opportunity. Learn more.

A growing appetite for impact investing: what wealth

Congratulations to this year's Evolve Sustainable Design Competition Winners!

Congratulations to this year's Evolve Sustainable DesignCongratulations to Mark Melnichuk, Mike Fik, Jaehyung Chun, and Ramoncito Espino from Ryerson University who won the Evolve Sustainable Design Competition to design a net-zero energy and water-wise mixed-use mid-rise building with wood as the primary construction material in the design. The choice of wood reflects the recent amendments to the Ontario Building Code that now permits 5 and 6-storey wood construction.

Their winning project used energy conservation strategies including building orientation, geothermal heating and cooling, natural cross ventilation techniques to achieve a net-zero building. The team also created a space that promotes sustainable living and mindfulness. The winners received a $5,000 prize for their university. Click here for a full list of results.

Have you read the latest Energy Conservation Report from the Evnironmental Commissioner of Ontario?
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