Royal Bank of Canada | Corporate purpose at Royal Bank of Canada

Status
Withdrawn
AGM date
Previous AGM date
Resolution details
Company ticker
RY:CN
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Amend board structure
ESG theme
  • Governance
ESG sub-theme
  • Corporate purpose
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
It is proposed that board of directors and management specify the Royal Bank of Canada’s purpose as an organization, and that one of the board committees be mandated to oversee the deployment of the policies, undertakings and initiatives that were implemented to achieve this new strategic direction, notably as it relates to health, the environment, human resources and stakeholder relations. 
Supporting statement
This proposal having received the support of 11.15% of shareholders, we are tabling it once again. As mentioned in your response to our proposal, “How we do business is as important as what we do, and each of the board and the board committees play a critical role in achieving our Purpose, Vision and Values.” However, for this notion of purpose to become a reality and more than just a marketing slogan, it is important that it become a tangible component of an institution’s corporate governance practices. The goal of our request is therefore that a reference to the purpose be integrated into the Charter of each relevant committee so that it may guide them at all times in the relevant committee’s work. 

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