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

Status
Filed
AGM date
Previous AGM date
Proposal number
10
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
Circular economy It is proposed 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
For several years, we have submitted a proposal to encourage the Bank to increase transparency around its initiatives to support a circular economy — a promising sector for innovation and economic opportunities. We firmly believe that this is in the long-term interests of the Bank, its shareholders and its stakeholders. Why this proposal? The circular economy would enable better resource management, reduce risks associated with raw materials scarcity, and promote innovative business models. Our simple and constructive request is that the Bank publish a report on: • the loans and initiatives already approved to support the circular economy; • the measures planned to develop the internal expertise to effectively support businesses in this growing sector. This report is not a constraint, but rather a tool for transparency and good governance, to allow shareholders to assess how the Bank is positioning itself with respect to emerging economic and environmental challenges. By voting for this proposal, shareholders will encourage the Bank to be proactive and innovative, and to increase its competitiveness in a rapidly changing market. This proposal received over 10% of the votes cast at the last AGM.

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