Royal Bank of Canada | Circular economy vote at the Royal Bank of Canada

Status
11.15% votes in favour
AGM date
Previous AGM date
Proposal number
6
Resolution details
Company ticker
RY:CN
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Waste and pollution
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Canada
Resolved clause
RESOLVED: that the Bank produce a report on the loans it granted over the past few years in support of a circular economy and the steps the Bank intends to take to develop the expertise needed to properly enhance the value of these businesses.
Supporting statement
SUPPORTING STATEMENT: This proposal garnered the support of more than 10% of the votes last year. We have read your position statement in the 2023
Management Proxy Circular and acknowledge the actions taken to that end. We have also attentively read the Bank’s ESG report in
which we found little information on the various initiatives that might reassure us as to your positions on the circular economy.
While we are aware that it can be complex, as you mention in your Management Proxy Circular, to monitor the loan activities that
support the circular economy, we believe that with the help of artificial intelligence and new technologies, such information can be
found and shared with all shareholders and stakeholders. We therefore renew our request for disclosure.

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