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Our commitment to D&I extends beyond our workforce to include the development, provision and procurement of our products and services and our partnerships with community organizations. Our practices, thought leadership and innovation strategies actively drive change among our peers and in our communities.
Our Priorities
Enabling equitable access to financial products and services
Supporting products, programs and initiatives that create positive economic and social impact
Leveraging our purchasing power to influence supplier and client diversity efforts
“Diversity and inclusion is much more than a foundational talent strategy at RBC. In order to live our purpose of helping clients thrive and communities prosper, it’s critical that our efforts to advance diversity and strengthen inclusion emanate through our operations, our products, and our services so that we are truly driving inclusive economic growth.”
Greg Grice, EVP, Personal & Commercial Regional Banking
How RBC is Enabling Economic Inclusion
Enabling equitable access to financial products and services
Access to financial products and services is critical to any economy’s efficiency and growth. Easy access is also fundamental to achieving individual well-being and community-wide equality. Through the inclusive development and delivery of products and services, we can better meet the diverse needs and circumstances of our clients.
- Survivors of Human Trafficking
- Supporting Black Entrepreneurs
- Indigenous financial services in Canada
Survivors of Human Trafficking
In 2021 RBC launched the Survivor Inclusion Initiative in Canada to provide basic banking services to survivors of human trafficking. Partnering with Survivor Support Organizations (SSOs) across Canada, the program aims to reconnect survivors to the financial system through financial literacy programming, fundamental banking education and access to free, unlimited chequing and savings accounts for 12 months. With an ultimate goal of enabling a survivor’s economic independence, the program will offer financial support and resources to help them manage their finances with confidence.
Learn more about the Survivor Inclusion InitiativeSupporting Black Entrepreneurs
In 2020, RBC announced a commitment of $100 million over five years to support the path to prosperity and growth of Black entrepreneurs through inclusive financing, community advocacy and sponsorship programs. As part of this commitment, RBC is providing $40 million in financing through the Black Entrepreneurship Startup program in collaboration with Futurpreneur Canada to offer small business loans, mentorship and business resources.
In addition, RBC launched a new financing solution in October 2021, called the RBC Black Entrepreneur Loan (BEBL), with loans of up to $250,000 and dedicated advice to eligible Black entrepreneurs. In addition, we provide workshops, events and online tools to support Black entrepreneurs in areas such as the credit application process, financial literacy and cash flow management.
Learn more about the RBC Black Entrepreneur ProgramIndigenous financial services in Canada
RBC offers inclusive financial services to Indigenous clients through integrated banking, trust and investment services. For Indigenous personal banking clients, we have a network of 11 full-service branches and six agencies located on reserves and in Inuit communities. For Indigenous clients living in remote communities and unable to visit an RBC location, we offer a remote banking service. In addition, we have a home financing program designed to assist First Nation clients in purchasing or building a home on a reserve, and a leasehold mortgage program for financing homes on leased First Nation lands.
For Indigenous businesses, governments and non-profits, we have a specialized banking team located in all regions of Canada, including three on-reserve commercial banking centres. We offer solutions specific to financing land claims, infrastructure and economic development projects for Indigenous communities. We also have wealth management teams who work exclusively with Indigenous governments to provide trust and investment solutions associated with preserving and managing financial assets acquired through claims settlements, impact benefit agreements and revenue sharing arrangements.
Learn more about Indigenous People and RBCSupporting products, programs and initiatives that create positive economic and social impact
We recognize the influence RBC has on both local communities and the global stage – and with this influence comes the opportunity to help address key societal challenges such as social justice, financial literacy and access to essentials such as financial support, employment and opportunities for prosperity. We acknowledge the strength of our organizational voice and regularly publish research, engage in dialogue with experts and partner with innovative organizations to present new ideas, technologies and solutions that can contribute to positive social impact.
Charitable donations and partnerships
RBC is one of Canada’s largest corporate donors, with a tradition of philanthropy dating back to 1891. We recognize that we have an important leadership role to play in addressing societal challenges and change. The aim of our global community investment programs is to have a positive ripple effect on the communities where we do business. We are proud to invest significantly in the communities where we work and live – our long-term success depends on it. As signatories to Imagine Canada’s Caring Company Program, we invest a minimum of 1% of our domestic net income before income taxes in support of charitable and non-profit initiatives in Canada.
Learn more about Charitable Donations and PartnershipsLeveraging our purchasing power to influence supplier and client diversity efforts
RBC purchases goods and services from suppliers in Canada and around the world. Aligned with our commitment to a fair sourcing process, our goal is to offer opportunity to all suppliers, including those who identify as a diverse business, owned by women, Indigenous Peoples, minorities, members of the LGBTQ+ community, persons with disabilities, veterans or service-disabled veterans. In doing so, we enhance the levels of quality, service and value experienced by the organization. Supplier diversity processes are also embedded in our day-to-day procurement activities, which positions us well to meet the requirements of our diverse client base.
Learn more about Supplier Diversity at RBCAlignment with the Sustainable Development Goals (SDGs)
The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. This includes a vision to reduce inequality and promote inclusive economic growth – a vision shared by RBC and embedded in our D&I strategy. Enabling Economic Inclusion aligns with three specific Sustainable Development Goals (SDGs) and six targets.
Ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to financial services
Target 1.4 Ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to financial services
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Target 8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services
Target 8.6 Substantially reduce the proportion of youth not in employment, education or training
Target 8.7 Take measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour
Target 8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all
Reduce inequality within and among countries
Target 10.2 Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status