RBC-Ipsos research<\/a> that three-quarters of us felt that given the state of the economy, now is \u201cnot the right time\u201d to spend money combatting climate change. We need to go deeper to facilitate change by implementing more systems that help consumers overcome perceived barriers to sustainable practices like lack of affordability, reliability, and access by: 1) instilling the benefits, impacts and outcomes of these choices early on, and 2) encouraging consumers to make better choices that don\u2019t impact their quality of life.<\/p>\n3.\tInvest in tech<\/h2>\n
A major theme that emerged was investing in innovative decarbonization solutions during production, and technologies that can help consumers make better choices. In agriculture, we heard about using AI to reduce waste and optimize food production and promoting lab-grown meat to decrease the environmental footprint of traditional livestock farming. Buildings can become more energy-efficient through green building materials like mycelium mushroom concrete and automatic window blinds that adjust to natural light, reducing heating bills. In the energy sector, participants discussed the use of small modular reactors (SMRs), offshore wind farms, and nuclear fusion as cutting-edge solutions for clean energy, alongside better subsidies and infrastructure for electric vehicles (EVs) to make them more accessible and widespread. The focus was on thinking big, emphasizing the need for bold timelines in both the development and deployment of these solutions (think COVID-19 vaccine fast) and a tenfold increase in collaboration across consumers, governments and businesses to ensure we hit our 2030 climate targets.<\/p>\n
4.\tIndigenous communities as collaborators<\/h2>\n
Attendees shared concerns that climate action doesn\u2019t take into consideration the needs of all stakeholders. Critically lacking is collaboration and consultation with Indigenous communities who can leverage their knowledge as stewards of the land to prioritize resiliency and biodiversity over profitability. Deep engagement in development and decision-making processes can help implement initiatives that reflect the unique environmental, economic, and cultural contexts of each community\u2014that are more likely to be embraced. A collaborative approach enhances the effectiveness of climate action, promotes resilience, and can aid in Canada\u2019s reconciliation journey.<\/p>\n
5.\tCorporations need to build trust<\/h2>\n
This takes us right to building trust with our communities. Communities won\u2019t collaborate if they don\u2019t see action being taken and commitments fulfilled. Everyone is fatigued by what they perceive to be empty corporate commitments on climate. Attendees shared that their trust in corporations is eroding, and according to Edelman Trust Barometer, only 51% of people trust businesses to do what is right when it comes to climate change. As much as a third of respondents said companies are falling short on living up to their climate commitments . To rebuild that trust, organizations, including RBC, need to be transparent about our commitments, follow through on them and expect to be held accountable if we don\u2019t.<\/p>\n
6.\tTalk less, listen more<\/h2>\n
An equally important step to building trust is continuously engaging in meaningful\u2014and sometimes uncomfortable\u2014dialogue with young people who want their voices heard. Where appropriate, we must provide adequate time and space for young leaders to connect with decision makers in meaningful, respectful ways. The new generation wants to be a part of free and frank discussions that address their questions and helps them analyze their role in fighting climate change.<\/p>\n
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