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 72 is higher than 85% 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 23,090,000 kg CO2e from Scope 1, 6,718,000 kg CO2e from Scope 2 (market-based), and 30,560,000 kg CO2e from Scope 3, specifically from business travel. In 2023, Scope 1 emissions were about 23,873,000 kg CO2e, while Scope 2 emissions (market-based) were approximately 14,842,000 kg CO2e, and Scope 3 emissions from business travel were around 32,216,000 kg CO2e. RBC has set ambitious climate commitments, aiming to reduce global emissions from its operations by 70% by 2025 compared to a 2018 baseline. This includes a target to source 100% of its electricity from renewable and non-emitting sources by the same year. Additionally, RBC aims to achieve a 35% reduction in Scope 1 emissions and a 54% reduction in Scope 2 emissions by 2030, both from a 2019 baseline. The bank is also committed to achieving net-zero emissions in its lending activities by 2050. RBC's emissions data is not cascaded from any parent organization, and all figures are reported directly from the Royal Bank of Canada. The bank's ongoing efforts reflect a strong commitment to sustainability and climate action within the financial sector.
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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.
