RBC agrees to new measures on race, climate after pressure from investors and First Nations – Corporate Knights

May 7, 2024

The moves come after weeks of negotiation with investors who supported Indigenous and Black leaders and their allies assembled at the bank’s annual general meeting in April

After years of protest from First Nations and climate activists, the Royal Bank of Canada has agreed to an audit of its Indigenous and racial community business practices, and disclosure of key climate change data.

While these measures are a step forward, they don’t give Indigenous communities a say over the financing of particular projects or exclude new fossil fuel financing – two key demands of the bank’s critics. But these concessions do open the door to dialogue with communities and investors on these critical issues.

The compromises came after weeks of negotiation with investors who supported Indigenous and Black leaders and their allies assembled at the bank’s annual general meeting in April, the largest showing of these community members at an RBC AGM.

Read More: https://www.corporateknights.com/category-finance/rbc-race-climate-pressure-investors-first-nations/