Royal Bank of Canada (RBC) Canada

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Royal Bank of Canada (RBC) Canada Royal Bank of Canada (RBC) Canada Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Feb 26 2021 About Royal Bank of Canada (RBC) The Royal Bank of Canada (in French, Banque Royale du Canada, and commonly RBC in either language) was founded in 1864 in Halifax, Nova Scotia and is the largest financial institution in Canada by measured deposits, revenues, and market capitalisation. The bank serves sixteen million clients and has more than 81,000 employees worldwide. The bank offers retail banking, corporate banking and investment banking services. Website http://www.rbc.com Headquarters 200 Bay Street ON M5J 2J5 Toronto Canada CEO/chair David I. McKay CEO Supervisor Superintendent of Financial Institutions (OSFI) Annual report Annual Report 2020 Ownership listed on NYSE, SIX Swiss Exchange & Toronto Stock Exchange Royal Bank of Canada's shareholder structure can be accessed here. Complaints RBC does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. and Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance). grievances Sustainability Voluntary initiatives Royal Bank of Canada (RBC) has committed itself to the following voluntary standards: Carbon Disclosure Project Dow Jones Sustainability Indices Equator Principles Global Reporting Initiative Principles for Responsible Investment (PRI) Sustainability Accounting Standards Board Task Force on Climate-related Financial Disclosures UNEP Finance Initiative Investment policies Royal Bank of Canada's web page on corporate social responsibility can be accessed here. Environmental and social risk management Date listed represents date as accessed on website Feb 26 2021 | Royal Bank of Canada Code of Conduct Jan 1 2021 | Royal Bank of Canada Policy guidelines for sensitive sectors and activitities Sep 14 2020 | Royal Bank of Canada Global approach to anti-money-laundering (AML) Feb 7 2020 | Royal Bank of Canada Supplier Code of Conduct Jan 27 2020 | Royal Bank of Canada Climate Blueprint Nov 25 2019 | Royal Bank of Canada Modern Slavery Statement Apr 30 2019 | Royal Bank of Canada Environmental policy Mar 5 2019 | Royal Bank of Canada Climate change position & disclosure statement 2017 Jan 31 2018 | Royal Bank of Canada BankTrack campaigns and Royal Bank of Canada (RBC) Human rights True leader BankTrack has assessed Royal Bank of Canada (RBC) on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Royal Bank of Canada (RBC) is assessed as a Laggard, with a total score of 0.5/12. Front runner Policy: 0.5/3 Due dilligence: 0/3 Reporting: 0/3 Remedy: 0/3 Follower For more details, see Banking with Principles? 2016 update. Laggard Equator Principles Implementation and reporting The Equator Principles require that adopting banks publicly report on the implementation of the principles. You can find the reporting requirements for EPFIs here. Royal Bank of Canada (RBC) is reporting on the implementation here. Contact and complaints The Equator Principles currently lack a formal complaints mechanism. Should you have any concerns or complaints about how the Equator Principles are being applied in a specific project in which Royal Bank of Canada (RBC) is also involved, please get in touch with our Equator Principles team. Equator Principles Dodgy Deals BankTrack is monitoring the following Equator Principles projects that are co-financed by Royal Bank of Canada (RBC) -note that some files may be on record, no longer updated-: Projects Coastal GasLink pipeline Canada Pipeline Transportation of Natural Gas active Trans Mountain Pipeline Expansion project (TMEP) Canada Pipeline Transportation of Crude Oil active Atlantic Coast Pipeline United States Pipeline Transportation of Natural Gas on record Toka Tindung gold mine Indonesia Mining on record Good moves Related Dodgy Deals Royal Bank Of Canada (RBC) has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal. Projects Keystone XL pipeline United States active Pipeline Transportation of Crude Oil Trans Mountain Pipeline Expansion project (TMEP) Canada active Pipeline Transportation of Crude Oil Line 3 Pipeline Replacement Project (L3RP) United States target Pipeline Transportation of Crude Oil Annova LNG Terminal United States active LNG Terminal Coastal GasLink pipeline Canada active Pipeline Transportation of Natural Gas Mountain top removal coal mining United States on record Coal Mining Grasberg gold and copper mine Indonesia on record Mining Toka Tindung gold mine Indonesia on record Mining Canadian tar sands Canada on record Oil and Gas Extraction Israeli illegal settlements Israel on record Construction Enbridge Northern Gateway pipelines Canada on record Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas Great Barrier Reef Coal & Gas Exports Australia on record Coal Mining | Fossil Fuels Bulk Stations and Terminals | Oil and Gas Extraction Offshore Detention Centres Australia on record Prisons and Immigration Detention Mountain Valley Pipeline United States on record Pipeline Transportation of Natural Gas Atlantic Coast Pipeline United States on record Pipeline Transportation of Natural Gas Companies EDF France active Biomass Electric Power Generation | Hydroelectric Power Generation | Nuclear Electric Power Generation | Solar Electric Power Generation | Wind Electric Power Generation Royal Dutch Shell Netherlands active Oil and Gas Extraction TotalEnergies France active Gas Electric Power Generation | Oil and Gas Extraction | Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas RWE Germany on record Biomass Electric Power Generation | Coal Electric Power Generation | Coal Mining | Commodities Trading | Nuclear Electric Power Generation | Solar Electric Power Generation | Wind Electric Power Generation Rio Tinto Australia on record Coal Mining | Mining | Nuclear Electric Power Generation Orano France on record Mining | Nuclear Electric Power Generation BHP Billiton Australia on record Coal Mining | Mining | Oil and Gas Extraction Coal India India on record Coal Mining Enbridge Canada on record Oil and Gas Extraction | Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas Arch Resources United States on record Coal Mining Anglo American United Kingdom on record Coal Mining | Mining Glencore Switzerland on record Coal Mining Vale Brazil on record Coal Mining | Mining TC Energy Canada on record Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas Kinder Morgan United States on record Pipeline Transportation of Crude Oil | Pipeline Transportation of Natural Gas BAE Systems United Kingdom on record Arms Industry and Trade.
Recommended publications
  • Regulation of Access to Oil Pipelines 777
    REGULATION OF ACCESS TO OIL PIPELINES 777 THE NATIONAL ENERGY BOARD: REGULATION OF ACCESS TO OIL PIPELINES JENNIFER HOCKING* In the past few years, a number of long-distance oil pipelines have been proposed in Canada — Northern Gateway, the Trans Mountain Expansion, Keystone, and the Energy East Project. This article describes the criteria used by the National Energy Board in approving the allocation of capacity in oil pipelines to firm service contracts while requiring that a reasonable percentage of capacity is allocated for uncommitted volumes (common carriage). It explains the economic theory related to regulation of access to major oil pipelines. It reviews and analyzes relevant NEB decisions, which show that the NEB supports well- functioning competitive markets, but will exercise its discretion to resolve complaints where markets are not functioning properly. The article also explains the economic significance of the proposed long-distance oil pipelines to Canada and Alberta despite the current low price of crude oil. The article concludes with recommendations for a written NEB policy regarding access to capacity in oil pipelines. TABLE OF CONTENTS I. SIGNIFICANCE OF PROPOSED OIL PIPELINES TO THE CANADIAN ECONOMY ................................. 778 A. PIPELINES NEEDED DESPITE LOW PRICE OF OIL ............... 780 B. SHIPPING OF OIL BY RAIL ................................ 781 II. OIL PIPELINES AS COMMON CARRIERS ........................... 781 A. THE NATURE OF COMMON CARRIERS ....................... 781 B. COMMON CARRIAGE OBLIGATION SUBJECT TO REASONABLENESS TEST ............................... 783 C. WHY WERE OIL PIPELINES ORIGINALLY DESIGNATED AS COMMON CARRIERS? ................................. 784 III. MAJOR LONG-DISTANCE OIL PIPELINES TODAY ................... 785 A. ENBRIDGE PIPELINES .................................... 786 B. TRANS MOUNTAIN PIPELINE .............................. 787 C. SPECTRA ENERGY EXPRESS-PLATTE .......................
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    Issue Briefing: Kinder Morgan Trans Mountain Pipeline and Tanker proposal November 2016 The Kinder Morgan Trans Mountain Pipeline and Tanker proposal would transport 890,000 barrels/day of tar sands bitumen to Canada’s west coast for export in oil tankers. The risks - social, economic, environmental - of this proposal far outweigh any supposed benefits to the Canadian public and the province of British Columbia. An approval of Kinder Morgan’s Trans Mountain pipeline and tanker proposal would not conform to government promises for climate action, First Nations reconciliation, or social license in B.C. This pipeline and tankers proposal, if approved, would create an unacceptable risk of spills and lead to extinction of the southern resident orca population, harming the local tourism economy and putting the Government of Canada in contravention of the Species At Risk Act. Summary of Risks: Diluted Bitumen Spills ● Kinder Morgan would increase tanker traffic nearly 700 per cent, from 60 to 400 tankers a year in Vancouver’s busy inner harbour, passing by Stanley Park and hundreds of kilometres of beaches, islands, and coastal wilderness. ● A spill is inevitable. The existing Trans Mountain pipeline has already spilled around 5.5 million litres (35,000 barrels) in 82 separate incidents. Even brand new pipelines are spill-prone (Nexen), and ships carrying fuels have recently spilled into B.C.’s coastal waters (MV Marathassa, Nathan E Stewart), exposing deficient marine spill response. ● No technology currently exists that successfully cleans up heavy bitumen spills in oceanic environments, concluded the National Academy of Science. ● Industry considers “success” in spill response to be recovery of 10 to 15 per cent of conventional oil.
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  • Sending Payments to Royal Bank of Canada (Channel Islands) Limited
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  • Settlement Banks for FX and MM Transactions, Options and Derivatives
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  • About Pipelines Our Energy Connections the Facts About Pipelines
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