Rbc Sustainability Profile
Royal Bank of Canada (RBC), headquartered in Toronto, Ontario, is a leading financial institution in Canada and a prominent player in the global banking industry. Founded in 1864, RBC has evolved into one of the largest banks in North America, offering a diverse range of services including personal and commercial banking, wealth management, insurance, and capital markets. With a strong presence across Canada and significant operations in the United States and internationally, RBC is renowned for its innovative financial solutions and customer-centric approach. The bank's core products, such as its comprehensive investment services and tailored banking solutions, set it apart in a competitive market. RBC's commitment to sustainability and community engagement further enhances its reputation, making it a trusted choice for millions of clients worldwide.
DitchCarbon Score
How does Rbc's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Rbc's score of 77 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Rbc's reported carbon emissions
In 2024, RBC reported total carbon emissions of approximately 60,368,000 kg CO2e, a decrease from about 70,931,000 kg CO2e in 2023. The emissions breakdown for 2024 includes Scope 1 emissions at about 23,090,000 kg CO2e, Scope 2 emissions at approximately 6,718,000 kg CO2e (market-based), and Scope 3 emissions from business travel at about 30,560,000 kg CO2e. RBC has set ambitious climate commitments, aiming to reduce global emissions from its operations by 70% by 2025, using 2018 as the baseline year. This target encompasses both Scope 1 and Scope 2 emissions. Additionally, RBC plans to source 100% of its electricity from renewable and non-emitting sources by 2025. For long-term goals, the bank is committed to achieving net-zero emissions in its lending activities by 2050. In terms of specific reduction targets, RBC aims for a 35% reduction in Scope 1 emissions by 2030 from a 2019 baseline and a 54% reduction in Scope 2 emissions by the same year. The bank's emissions intensity target is set at 5.0 g CO2e/MJ by 2030. Overall, RBC's climate strategy reflects a strong commitment to reducing its carbon footprint and transitioning to sustainable energy sources, aligning with industry standards for climate action.
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Access structured emissions data, company-specific emission factors, and source documents
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 35,905,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 86,816,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Rbc's Industry?
How Carbon Intensive is Rbc's Location?
Rbc's Scope 3 Categories Breakdown
Rbc's Scope 3 emissions, which decreased by 5% last year and increased by approximately 4% since 2015, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 51% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Rbc's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Rbc has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
