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RBC eliminates key climate, ESG roles amid broader reorganization, sources say
RBC said the new public policy unit will oversee climate and sustainability issues after the bank dropped sustainable finance goals in 2025.
- Royal Bank of Canada eliminated at least three senior climate and ESG roles on November 12, reorganizing its teams to create a new vice presidency of public policy.
- Reflecting shifting economic priorities, North American banks are reducing their focus on climate and ESG businesses; RBC withdrew from a global climate coalition last year.
- The bank eliminated vice presidents of climate strategy, ESG risk, and sustainability strategy, while appointing Emily Head as vice president of public policy on Monday.
- Spokesperson Andrew Block said the bank "moved the climate team in its entirety" into a new Public Policy group to provide "more impact on important policy issues."
- President Donald Trump proposes looser drilling rules while Prime Minister Mark Carney prioritizes the oil and gas sector to protect the economy from potential tariffs.
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RBC eliminates key climate, ESG roles amid broader reorganization, sources say
Royal Bank of Canada has eliminated at least three senior climate, sustainability and environmental, social, and governance (ESG) roles, according to three people familiar with the lender's decisions, as the biggest Canadian bank reorganizes its teams and creates a new vice presidency of public policy.
·London, United Kingdom
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Total News Sources7
Leaning Left0Leaning Right1Center6Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
C 86%
14%
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