RBC is Canada's largest bank, and one of the largest banks in the world. RBC’s social finance initiative is designed to ignite the growth of social finance in Canada. The initiative supports and nurtures businesses that deliberately seek to make positive contributions to the community. The initiative demonstrates the opportunity to invest in businesses that deliver social, environmental and financial returns.
RBC’s social finance initiative includes:
- 1. Deploying the $10 million RBC Generator, a pool of capital to invest in for-profit businesses tackling social or environmental challenges
- 2. Catalyzing the growth of social finance in Canada through strategic partnerships and thought leadership
- 3. Investing at least $10 million of RBC Foundation assets in Socially Responsible Investments
- 4. Exploring additional business opportunities for RBC in social finance
By encouraging businesses to provide market-based solutions to environmental and social issues, social finance can open doors to new opportunities, drive economic growth, protect our environment, allow communities to reach their full potential, and offer a brighter and more sustainable future to all. RBC hopes that our commitment to social finance in Canada will not only spark entrepreneurship and innovation, but will also encourage other organizations to make similar investments that generate positive social and environmental change.
The impact of an investee organization should be quantifiable and reportable. RBC will work with successful investees to measure community and environmental impact, utilizing IRIS metrics.
In addition to regular financial reporting, all investees must report on the impact their business is making, or will make, in one or more of the following areas:
- Reduction in energy use
- Reduction in greenhouse gas or other emissions
- Improvement in water quality
- Reduction in water use
- Change in number of people employed
- Change in value of wages and benefits paid