16:57:53 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Royal Bank of Canada
Symbol RY
Shares Issued 1,408,827,582
Close 2024-02-08 C$ 130.20
Market Cap C$ 183,429,351,176
Recent Sedar Documents

Globe says RBC talks big on climate change, but . . .

2024-02-08 06:46 ET - In the News

The Globe and Mail reports in its Thursday edition that among Canadian institutional investors, the commitment to combatting climate change is broad: Dozens of pension and money managers have signed pledges or joined groups to encourage companies to reduce their emissions. The Globe's David Milstead writes, however, that when it comes time to vote in annual corporate elections for shareholders' climate-change proposals, many of those institutional investors fail to live up to their ideals. A review of voting records of 35 public pension plans and private-sector asset managers by Canadian climate group Investors for Paris Compliance (I4PC) shows 15 voted in support of fewer than half of the shareholder proposals they faced in 2023. RBC Global Asset Management voted in favour of one proposal, opposed 16 of them, and had what I4PC calls a "split" vote on nine others, meaning that some of RBC's retail funds voted for a proposal, while others voted against. In seven of the nine split votes, 88 per cent or more of the RBC-affiliated managers cast votes in favour of the climate proposals. Five institutional investors did support every climate-related proposal they considered, led by the Canada Post Pension Plan.

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