Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The RBC Climate Blueprint is our enterprise climate change strategy to accelerate clean economic growth and support our clients in an inclusive transition to a net-zero economy. The Blueprint was updated in 2021 and now outlines four strategic priorities that are anchored by our strengths in finance, investment, risk management, innovation, economic and policy research, and community investments: 1) Help clients as they transition to net-zero, 2) Hold ourselves accountable, 3) Inform and inspire a sustainable future, and 4) Advance net-zero leadership in our own operations. Under Pillar 2 – Hold ourselves accountable – one of our key supporting actions is to partner with industry peers, standard setting bodies, governments, and other stakeholders to advance shared methodologies, accounting frameworks, and disclosure best practices. This includes engaging with government entities on policy, law or regulation that may impact climate.
RBC's enterprise policy on lobbying covers circumstances where RBC employees may have contact with public officials who play a role in developing legislation, regulations or other government actions. Where such contact occurs, the policy requires that appropriate processes and controls be put in place to ensure these contacts comply with the applicable rules, regulations and internal requirements. The majority of our activities take place in Canada, particularly at the federal level, and in the U.S. In addition to our direct engagement with government officials, we are also members of associations that may have interactions with government officials on matters of interest to the financial services industry. These associations promote public policy objectives important to RBC, our customers and the broader community. Membership in, or financial support of, these various groups does not mean that RBC supports every position taken by these organizations or their other members. Where these positions differ from those of RBC, we are committed to voicing our views as appropriate through our employees who serve on the boards and committees of these groups or publicly as necessary.