RBC Action Plan Against Systemic Racism

Three Key Action Areas

Diversity and Inclusion has been a cornerstone of our values for years, and our purpose of helping clients thrive and communities prosper is core to who we are as an organization.

This can only be achieved when everyone has an equitable opportunity to achieve their fullest potential. We know we’re not immune from systemic bias and racism, and we believe we have more work to do to better understand, identify and address issues that impede the success of Black, Indigenous and other racialized groups in our workforce.

As one of Canada’s largest companies and a global organization, we have an opportunity and business imperative to put our collective energy toward positive, sustainable change.

Enabling Economic Growth and Wealth Creation

The Financial Services industry plays an important role in enabling economic mobility and prosperity, and small businesses are the engine of that growth.

• Existing commitments to Indigenous communities. Learn more about Indigenous Peoples and RBCOpens to Another RBC site

• Committing $100 million over five years in small business loans to Black entrepreneurs. Learn more about the Black Entrepreneur ProgramOpens to Another RBC site

• Establishing a program to bring business, marketing, digital experts and community leaders together to share ideas and best practices to advance growth for Black owned businesses. Visit the Black Entrepreneur Startup Program(opens to external site in new window)

Investing in the Future

Ensuring the leaders of tomorrow have equal opportunity today is critical to building more inclusive companies and communities that can achieve their greatest potential.

• Committing to invest $50 million from now up to 2025 through RBC Future LaunchOpens to Another RBC site to create meaningful and transformative pathways to prosperity for 25,000 BIPOC youth with investments in areas such as skills development and mentoring.

  • Black Professionals in Tech Network(opens to external site in new window) and RBC Future Launch announced their new three year $4.5 million commitment. Learn moreOpens to Another RBC site

• Committing 40% of all RBC summer opportunities to BIPOC youth, with a specific focus on recruiting from Black and Indigenous communities, to bring broader perspectives to our teams and create career opportunities for a more diverse group of students. Visit the Co-ops and Internships page of our Careers siteOpens to Another RBC site

• Establishing and measuring annual internship and new hire goals for Black and Indigenous talent in Canada, the US, and the UK as applicable beginning in 2021.

Redefining Inclusive Leadership

The only way we can truly represent the communities we serve and harness the potential of our diversity is to grow the number of BIPOC leaders across our bank.

• Enhancing our existing company-wide Unconscious Bias training, and making anti-racism and anti-bias training mandatory for all employees.

• Increasing our staffing goals for BIPOC executives from 20% to 30% with a focus on increasing Black and Indigenous representation to accelerate the diversity of our leadership pipeline for senior executive roles.

• Doubling our investment in Ignite, a leadership program focused on driving the development of BIPOC talent, to complement other experience-based development opportunities.

• Including diversity and inclusion objectives in the performance management goals of all people leaders

• Expanding our annual diversity reporting beginning in 2021 to drive even more transparency on our BIPOC efforts, including enhancing our pay equity reporting to encompass racial and ethnic pay equity analysis. View all of our current reports.