Royal Bank of Canada

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Supplier Code of Conduct:
Environmental Management
Suppliers must have the appropriate management policies and procedures in place to minimize material environmental impacts and comply with all environmental laws. Suppliers are also expected to support RBC’s efforts to reduce our adverse environmental impacts, where appropriate.

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RBC is committed to helping build a more inclusive, sustainable and prosperous future. We do so by harnessing the power of our Purpose: Helping clients thrive and communities prosper. The aim of our purpose-driven approach to environmental, social and governance (ESG) issues is to help tackle some of society’s greatest challenges in the communities where we live and work. [..]
We are committed to providing $500 billion in sustainable finance by 2025.1
As a provider of sustainable finance products and services, we have a deep interest in enhancing the integrity and credibility of the sustainable finance market, and are committed to upholding industry guidelines and good market practice.
Table 1: Eligible green activities
Eligible green activities under this Framework are those that support key environmental objectives including but not limited to climate change mitigation, climate change adaptation, biodiversity and ecosystem protection, sustainable use and protection of water and marine resources, pollution prevention and control, and circular economy.
Sustainable agriculture, climate smart farm inputs, animal husbandry, fisheries and aquaculture, certified by a recognized third-party certification such as Canada Organic, USDA Organic, UTZ, Rainforest Alliance, Marine Stewardship Council, Aquaculture Stewardship Council, GlobalG.A.P. for Aquaculture, or Best Aquaculture Practices (2 stars or more)

Comments on score: The bank does have a framework to finance sustainable agriculture, but it is not clearly aimed at animal-friendly food production systems.