Environmentally Sustainable
Business:
RBC’s Perspective
Sandra Odendahl
Director, Corporate Environmental Affairs
Royal Bank of Canada
Rotman School of Management
February 22, 2009
Overview
I. About RBC
II. Why Sustainability?
III. Integrating Sustainability into business
IV. Banking and the Environment
V. Sustainable Business at RBC
VI. What Next?
I. About RBC
•
Assets ~ $655 billion; Market capitalization ~ $77.6 billion.
•
Approximately 80,000 employees in 50 countries
•
Major operations in Canada, US, UK and the Caribbean
•
Over 1700 branches and more than 4,800 ABMs
•
Business areas:
– RBC Canadian Banking (~44% of revenue)
– RBC Capital Markets
– RBC Wealth Management
– RBC US and International Banking
– RBC Insurance
Largest Canadian bank, 5th largest bank in North America
Largest Company on the TSX
II. Why Environmental Sustainability?
II. Why Environmental Sustainability?
What’s in it for Business
Challenging economic
conditions, heightened
competition, volatile
markets
Greater need for
breakthrough messaging
and clear differentiation;
reduce costs, innovate
Society’s priorities have
evolved – Baby-boomers
want balance of Wealth,
Wellness and World
Company must tap into
need for relevance,
authenticity, perspective –
clients and employees
Limited government
leadership and money
Expectation that major
companies will fill the void
Our sustainability strategies must reflect these new realities
III. Integrating Sustainability into Business
- Components
1.
Governance
–
Board of directors commitment
–
Executive support and leadership
–
Staff
–
Committees and/or champions
–
Policy
2.
Strategy
–
Priorities
–
Initiatives
–
Targets
–
Performance measures
3.
Execution
–
Results
The Challenge is Getting the Strategy Right
Integrating Sustainability into Business
Step 1: Who are you?...