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Helping Clients as They Transition to Net-Zero

At RBC, we believe the biggest impact we can make in addressing the climate change challenge is by helping our clients reduce their emissions and achieve their climate goals.

From large corporations to individual homebuyers, we offer advice and support to help make their journeys easier. And, by helping to fund new technologies that reduce emissions and produce cleaner energy, we can help clients access resources and implement climate change solutions.

Green and decarbonization finance

Helping clients as they transition to net-zero involves facilitating capital to support emissions reductions in high-emitting, hard-to-abate sectors, and the adoption and scaling of solutions for a greener economy1.

We offer a broad range of financing products, services, and advice to help individuals and businesses think about, establish and advance their climate goals.

To help drive growth in sustainable finance with transparency and accountability, we published a Sustainable Finance Framework. Our Sustainable Finance Framework highlights our approach and methodology used to measure our $500 billion sustainable finance commitment and report on our progress to date. In 2024, RBC updated its Sustainable Finance Framework to include, among other things, additional eligible green activities and a new decarbonization finance definition.

Client Engagement Approach on Climate – Energy Sector

The Client Engagement Approach on Climate formalizes RBC Capital Markets’ approach to engagement with its energy sector clients on their plans for the energy transition.

We have also disclosed our initial assessment of RBC Capital Markets’ energy sector client transition plans and intend to update on progress annually.

Holding Ourselves Accountable

We have a goal to achieve net-zero in our lending by 2050, while balancing the needs of people and the planet. At RBC, we know how important it is to keep track of where we’ve been, where we’re going and how far we’ve come. We report annually on our progress on our climate commitments.

Our commitment to holding ourselves accountable also includes:

  • Establishing high standards of governance, including by embedding ESG factors in executive compensation
  • Joining the Net-Zero Banking Alliance, a global industry-led initiative, as we believe global banking collaboration helps to drive progress on the transition to net-zero.
  • Continuing to embed climate risk factors into our credit decisions
  • Restricting lending transactions for certain sectors and activities(opens in a new window) that have significant environmental impacts

Learn more about our Environmental and Social Risk Management

Reporting on our Progress

As we work toward our commitments, goals and targets we have committed to measuring and reporting on our progress.

See our 2023 Climate Report for details(opens pdf in a new window)

Summarizes progress to date in advancing how we manage climate-related risks and opportunities in line with our enterprise climate strategy, the RBC Climate Blueprint, and in implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

2022 Net-Zero Report(opens pdf in a new window)

This report outlines our initial 2030 interim emissions reduction targets for the Oil & Gas, Power Generation and Automotive sectors. It also outlines our target-setting methodology and the principles and beliefs that guided our target-setting process.

Informing and Inspiring a Sustainable Future

Addressing climate change is a large and challenging undertaking – and one that requires the ideas and expertise from a diverse group of companies and thinkers. By sharing research and insights, we aim to inform and inspire our clients, foster further climate innovation and build climate awareness.

Climate Action Institute

The RBC Climate Action Institute brings together economists, policy analysts and business strategists to help research and advance ideas that can contribute to Canada’s climate progress.

Learn about the RBC Climate Action Institute

Partnering with Experts to Make a Meaningful Impact

It takes a collective effort to move the dial on climate change. We’re proud to be working with these purpose-driven organizations.

Our partners: UNEP, The Green Bond Principles, PRI, Climate Bonds, BRC, PCAF, Institute for Sustainable Finance and Center for Climate Aligned Finance

Advancing Net-Zero Leadership In Our Own Operations

We are taking steps to reduce emissions from our own global operations. We have set two goals: to reduce our global emissions from our own operations by 70%2 compared to our baseline year of 2018 and to increase our sourcing of electricity from renewable and non-emitting sources to 100%3, both by 2025.

Our Progress


reduction in our operational emissions(legal disclaimer)2 since 2018


of our global electricity consumption came from renewable sources4

The increase in our sourcing of renewable electricity through long-term power purchase agreements and other sources of renewable energy certificates is an important contributor to our progress on both of our goals. We continue to pursue initiatives to unlock emissions reductions on our long-term path to net-zero operations, for example, investments in select onsite solar projects where viable. We are also actively pursuing collaboration with the owners of the buildings we lease to reduce our emissions. The electrification and energy efficiency plans are an integral part of this initiative.