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Companies both large and small can help shape the economies of the communities and countries in which they do business, simply through their day-to-day business decisions and actions. |
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Economic development
RBC invests in sustainable economic development, and we are committed to contributing to the success of people and businesses in the communities in which we operate. We support:
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Economic growth in communities in which we do business |
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Initiatives that help build well-being, wealth and capacity in Aboriginal communities |
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Initiatives that help newcomers succeed in their adopted country |
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Resources to promote economic self-sufficiency |
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Financial literacy programs |
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Programs that address basic needs, such as food banks. |
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Promoting self-sufficiency and growth
We help stimulate economic growth by investing in programs that enable economic development with a social purpose. For instance, in Canada, we support: |
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The Neil Squire Society’s Employ Ability Program which assists physically disabled adults in Canada seeking employable skills, education and confidence |
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The Winnipeg Salvation Army’s Work Readiness Program which helps income assistance recipients find a job and become self-sufficient |
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Miziwe Biik, which is committed to improving the socio-economic status of the Greater Toronto Area Aboriginal population through access to training, employment opportunities, business development services, and employment counselling |
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Youth Employment Services, a leading Canadian youth organization that provides innovative programs empowering disadvantaged and vulnerable youth to become self-sufficient, contributing members of society.
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In the U.S., RBC Bank provides millions of dollars in financing for community development projects, benefiting low- and moderate-income populations. Projects include low-income rental and ownership housing developments, as well as affordable housing for the elderly and people with disabilities. |
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Partnerships
RBC also promotes economic growth through industry partnerships. For example, we support the Greater Halifax Partnership which brings together over 150 private sector companies, three levels of government and skilled business professionals dedicated to engaging the community in the growth of Greater Halifax’s economy.
Innovation
RBC takes a leadership role in supporting innovation and the commercialization of research. In May 2008, we joined Research in Motion Limited and Thomson Reuters to launch BlackBerry Partners Fund, a US$150 million venture capital fund, to invest in mobile applications and services for the BlackBerry platform and other mobile platforms.
Small business
Small business is an important engine driving economic growth. We are the market leader in Canada, serving almost one in four small business owners. We have over half a million small business clients in Canada, the U.S. and the Caribbean. Financing is essential for many small businesses to start, operate or grow, and RBC offers a host of credit solutions tailored to meet the needs of diverse businesses at various stages. We also strive to provide the best possible products, advice and expertise to help this sector prosper.
Purchasing
Our procurement policies are inclusive and aim to promote sustainable business practices and economic development where possible and appropriate. To maintain the highest standards, we review our purchasing policies annually.
We promote fair purchasing practices and strive to support, whenever possible, the communities in which we operate. We are a founding member of the Canadian Aboriginal and Minority Supplier Council (CAMSC). RBC has been a member of CAMSC’s U.S. affiliate, the National Minority Supplier Development Council, since 2002.
For more information, visit rbc.com/responsibility/economic |
