Royal Bank of Canada

Overall approach

4/16
- Overarching commitment on deforestation
  
  4/16
  
  Deforestation commitment
  
  Understanding of the risks
  
  4/16
  
  " There is strong scientific evidence that climate change is caused by human activities including fossil fuel combustion, deforestation and other changes in land use".
  
  Open source document
Commodity score

23/64
- Beef & Leather
  
  19/64
  - Commitment Strength
    
    13/42
    - Commodity-specific financing policy
      
      0/9.6
      - Commitment details
        No
        
        0/8
        
        Commitment details
        
        No
        
        0/8
        
        Type of policy: No policy
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must be legally operated
      
      3.6/5.6
      - Commitment details
        Own operations - Require
        
        2/4
        
        Commitment details
        
        Own operations - Require
        
        2/4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
    - Companies must protect priority forests or globally important landscapes
      
      9.6/9.6
      - Commitment details
        All high priority landscapes - Require
        
        8/8
        
        Commitment details
        
        All high priority landscapes - Require
        
        8/8
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
    - Assurance mechanism to ensure compliance
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must have a grievance mechanism
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Commitments must be timebound
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
  - Social Considerations
    
    6/22
    - Company must ensure Free, Prior and Informed Consent
      
      5.6/5.6
      - Commitment details
        Yes - Require
        
        4/4
        
        Commitment details
        
        Yes - Require
        
        4/4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
    - Company must respect labour rights
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Company must address gender equality issues
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must encourage the inclusion of small-scale farmers
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
- Palm oil
  
  19/64
  - Commitment Strength
    
    13/42
    - Commodity-specific financing policy
      
      0/9.6
      - Commitment details
        No
        
        0/8
        
        Commitment details
        
        No
        
        0/8
        
        Type of policy: No policy
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must be legally operated
      
      3.5/5.6
      - Commitment details
        Own operations - Require
        
        2/4
        
        Commitment details
        
        Own operations - Require
        
        2/4
        
        "We believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers
        
        0.3/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers
        
        0.3/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
    - Companies must protect priority forests or globally important landscapes
      
      9.6/9.6
      - Commitment details
        All high priority landscapes - Require
        
        8/8
        
        Commitment details
        
        All high priority landscapes - Require
        
        8/8
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests or UNESCO World Heritage Sites".
        
        Open source document
    - Assurance mechanism to ensure compliance
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must have a grievance mechanism
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Commitments must be timebound
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
  - Social Considerations
    
    6/22
    - Company must ensure Free, Prior and Informed Consent
      
      5.6/5.6
      - Commitment details
        Yes - Require
        
        4/4
        
        Commitment details
        
        Yes - Require
        
        4/4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
    - Company must respect labour rights
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Company must address gender equality issues
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must encourage the inclusion of small-scale farmers
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
- Soy
  
  19/64
  - Commitment Strength
    
    13/42
    - Commodity-specific financing policy
      
      0/9.6
      - Commitment details
        No
        
        0/8
        
        Commitment details
        
        No
        
        0/8
        
        Type of policy: No policy
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must be legally operated
      
      3.6/5.6
      - Commitment details
        Own operations - Require
        
        2/4
        
        Commitment details
        
        Own operations - Require
        
        2/4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
    - Companies must protect priority forests or globally important landscapes
      
      9.6/9.6
      - Commitment details
        All high priority landscapes - Require
        
        8/8
        
        Commitment details
        
        All high priority landscapes - Require
        
        8/8
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
    - Assurance mechanism to ensure compliance
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must have a grievance mechanism
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Commitments must be timebound
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
  - Social Considerations
    
    6/22
    - Company must ensure Free, Prior and Informed Consent
      
      5.6/5.6
      - Commitment details
        Yes - Require
        
        4/4
        
        Commitment details
        
        Yes - Require
        
        4/4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
    - Company must respect labour rights
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Company must address gender equality issues
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must encourage the inclusion of small-scale farmers
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
- Timber, Pulp & Paper
  
  34/64
  - Commitment Strength
    
    28/42
    - Commodity-specific financing policy
      
      9.4/9.6
      - Commitment details
        Yes
        
        8/8
        
        Commitment details
        
        Yes
        
        8/8
        
        Type of policy: Sustainable/Responsible
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all operations and financing
        Subset
        
        0.2/0.4
        
        Policy applies to all operations and financing
        
        Subset
        
        0.2/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
    - Companies must be legally operated
      
      3.6/5.6
      - Commitment details
        Own operations - Require
        
        2/4
        
        Commitment details
        
        Own operations - Require
        
        2/4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "we believe that there are some basic ESG principlesthat are applicable across all markets. Those include[...] full compliance with allapplicable laws and regulations".
        
        Open source document
    - Companies must protect priority forests or globally important landscapes
      
      9.6/9.6
      - Commitment details
        All high priority landscapes - Require
        
        8/8
        
        Commitment details
        
        All high priority landscapes - Require
        
        8/8
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "RBC will [...] not engage in new financing activities with corporations operating unsustainably in tropical rainforests, High Conservation Value Forests10 or UNESCO World Heritage Sites".
        
        Open source document
    - Assurance mechanism to ensure compliance
      
      5.6/5.6
      - Commitment details
        Require
        
        4/4
        
        Commitment details
        
        Require
        
        4/4
        
        Verification method: Certification Scheme
        Certification scheme (if applicable): FSC
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[RBC] assess our corporate lending, and our debt and equity underwriting activities and corporate credit facilities for environmental and social risk. The environmental and social risk management process depends on the type of transaction and sector(s) in which the client operates. Our policy requires that clients operating in industries of elevated environmental risk be subjected to an Environmental and Social Risk Review to evaluate the following:...Certification of logging operations (FSC, SFI, CSA or any other applicable)."
        
        Open source document
    - Companies must have a grievance mechanism
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Commitments must be timebound
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
  - Social Considerations
    
    6/22
    - Company must ensure Free, Prior and Informed Consent
      
      5.6/5.6
      - Commitment details
        Yes - Require
        
        4/4
        
        Commitment details
        
        Yes - Require
        
        4/4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all operations and financing
        All
        
        0.4/0.4
        
        Policy applies to all operations and financing
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all deals
        All
        
        0.4/0.4
        
        Policy applies to all deals
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all companies
        All
        
        0.4/0.4
        
        Policy applies to all companies
        
        All
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
      - Policy applies to all stages of the supply chain
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        Policy applies to all stages of the supply chain
        
        Producers; Processors; Traders; Manufacturers; Retailers
        
        0.4/0.4
        
        "[...] require that our clients recognize and respect legal rights in project development, including meaningful community consultation and the principle of free, prior and informed consultation with indigenous peoples living in natural areas that exist within project areas."
        
        Open source document
    - Company must respect labour rights
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Company must address gender equality issues
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
    - Companies must encourage the inclusion of small-scale farmers
      
      0/5.6
      - Commitment details
        No
        
        0/4
      - Policy applies to all operations and financing
        No
        
        0/0.4
      - Policy applies to all deals
        No
        
        0/0.4
      - Policy applies to all companies
        No
        
        0/0.4
      - Policy applies to all stages of the supply chain
        No
        
        0/0.4
Reporting & Implementation

13/20
- Policy is reviewed and updated
  
  3/5
  
  Policy review
  
  Commit to update policy - Timeline unclear
  
  3/5
  
  "We proactively review and update these policies and processes to address regulatory changes, emerging and evolving issues and international best practices. RBC employs an in-house team of environmental professionals, who provide expertise across the enterprise whenever required".
  
  Open source document
- Companies must disclose subsidiaries in commodity supply chains
  
  0/5
- Monitoring and non-compliance process
  
  5/5
  
  Monitoring compliance
  
  Yes - Screening and monitoring process
  
  5/5
  
  "Before financing a proposed Project, RBC must ensure the client has complied with the Equator Principles, and that environmental and social issues associated with the Project have been adequately considered and minimized, mitigated, or offset [...] RBC reports annually on our implementation of the Equator Principles."
  
  Open source document
- Reporting on implementation of the policy
  
  5/5
  
  Reporting
  
  Yes - Annually
  
  5/5
  
  https://www.rbc.com/community-social-impact/_assets-custom/pdf/2018-ESG-Report.PDF
Commitment strength

17/42

Avg. score
Social considerations

6/22

Avg. score

Profile

The Royal Bank of Canada are a banking and financial services group headquartered in Canada serving private, corporate and institutional clients. Their services include wealth management, insurance, capital markets, investments, commercial banking and retail banking services. As of 2017, their total assets amount to more than 1.2 trillion CAD, with net loans worth nearly 480 billion CAD. The Royal Bank of Canada are among the top 30 lenders to Forest 500 companies, with loans amounting to more than 11 billion USD across a broad range of forest risk sectors. They are also among the top 50 shareholders for Forest 500 companies, with more than 7 billion USD worth of shares.

Canada

Financial institution type

Asset management, Bank

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Full finance sector performance data Forest 500 assessment methodology

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Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.