- Higher interest rates and the rising cost of living are hurting affordability for people and families and contributing to economic and social inequalities
- Society is increasingly polarized, with divisions deepening when coming together has never been more important to address large and complex challenges
- Existential threat of climate change and its impact on every aspect of our lives
- Lack of standard definitions and taxonomies has been a barrier to deploying capital for decarbonization to high-emitting, hard-to-abate sectors at the scale and pace required
Royal Bank of Canada
Greenhouse gas emissions & sustainability report data
In its 2023 (November 1, 2022 – October 31, 2023) reporting, Royal Bank of Canada disclosed greenhouse gas emissions of 50.3K tonnes (from operations). Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
50.3K tonnes (from operations)
2023 (November 1, 2022 – October 31, 2023)
Renewable Energy
100%
of total energy
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 (November 1, 2022 – October 31, 2023) | 50.3K tonnes (from operations) |
| 2021 | 68.2K tCO2e/year |
| 2020 | 98.2K tCO2e/year |
| 2015-11-01 to 2016-10-31 | 108.3K tCO2e/year |
| 2014 | 144.2K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Sourced 100% of our total global electricity consumption from renewable sources
- Facilitated $29 billion in green finance as part of our $500 billion sustainable finance commitment
- Disclosed absolute financed emissions for oil & gas sector of 71.4 million tonnes of CO2e
- Launched the RBC Climate Action Institute
- Supported climate innovation by committing $48 million toward venture capital and growth equity funds
- RBC Tech for Nature supported 150 partners in clean tech, agriculture, energy and nature-based climate solutions through $21+ million in community investments
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce our own global GHG emissions by 70% compared to our baseline year of 2018 and to increase our sourcing of electricity from renewable and non-emitting sources to 100%, both by 2025
📅 Medium-term
- Triple our lending to renewable energy from $5 billion in 2023 to $15 billion in 2030
- Grow overall low-carbon energy lending to $35 billion by 2030
- Allocate $1 billion by 2030 to support the development and scaling of innovative climate solutions
🔭 Long-term
- Achieve net-zero emissions in our lending by 2050
🌱 ESG Focus Areas
Talent attraction and retentionCommunity and social impactResponsible governance practicesConduct and trustRisk managementHuman rightsPrivacy and cyber securityClient satisfaction and loyaltyClimate changeSustainable financeFinancial wellbeing and inclusionResponsible digital enablementResponsible investmentResponsible procurement and supplier diversityEmployee wellbeingCulture of inclusion and belongingEconomic value generated and distributed