Rbc
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 64 is higher than 99% 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 2023, RBC reported total carbon emissions of approximately 70,931,000 kg CO2e. This figure includes 23,873,000 kg CO2e from Scope 1 emissions, which are direct emissions from owned or controlled sources, and 14,842,000 kg CO2e from Scope 2 emissions, which are indirect emissions from the generation of purchased electricity. Additionally, Scope 3 emissions, primarily from business travel, accounted for about 32,216,000 kg CO2e. RBC has set ambitious climate commitments, aiming to reduce its global emissions from operations by 70% compared to a 2018 baseline by 2025. This target applies to both Scope 1 and Scope 2 emissions. Furthermore, RBC is committed to sourcing 100% of its electricity from renewable and non-emitting sources by the same year. In previous years, RBC's emissions have shown fluctuations, with total emissions reaching 102,628,000 kg CO2e in 2020 and 83,993,000 kg CO2e in 2022. The bank has also aimed for a 15% reduction in Scope 1 and 2 emissions by 2023, with a minimum annual reduction target of 2.5%. Overall, RBC's climate strategy reflects a strong commitment to sustainability and reducing its carbon footprint, aligning with industry standards for climate action.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 27,218,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Rbc is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
